This week, BP broke the news that BTC would be sold to Cable and Wireless for a rock bottom price; $195 million. This added with the $15 million left in the bank, which brought the figure to $210 million; the amount announced by the Government.
The $15 million question is this: Why would a government sell the “Bahamian Success Story” and leave money in the bank for the new corporate rapist to take? Well, that is the question BP put to an insider to the long negotiations out of the finance department and what we were told is indeed shocking.
According to our “deep throat” in the boardroom at BTC, the government of the Bahamas has transferred the decision to fire Bahamians to Cable and Wireless.
“It is no secret why the $15 million was left in the cookie jar. Members of the Government’s negotiating team were reluctant to sign a Memorandum, which would state the downsizing of the company; a situation requested by the new owners.
“We are headed into an election year and therefore, like Pilate washed his hands before the Crucifixion of the risen Lord, so has this government washed their hands from the decision to fire Bahamians. They have left the money in the bank for Cable and Wireless to do that job. This is why the language in the memorandum was change to “restructuring” from the initial term “Downsizing”. Didn’t ZNS get restructure?” the source said.
Bahamas Press has learnt the $15 million is the Government’s contribution to separation packages at the Corporation, which will be backed by additional funds supplied by the new buyer. It is speculated some 300 workers will be purged from the Corporation.
We are told it is likely scores of senior management members at BTC will opt for the package offered, which will also deplete the mass skills bank at the telecommunications company.
What amazes BP however is this, since the negotiations began, the general public has not seen one face or spokesman to the announcements. NOT THE WUTLESS MINISTER WITH RESPONSIBILITY, Tommy Turnquest, nor the Chairman of BTC, nor the team from Cable & Wireless. Why is everyone so invisible like the 19 benefactors of the Port Deal?
Hubert Ingraham, just like a secret agent, has led the most secretive government in the history of the Bahamas. For a team which propagated “WE ARE A GOVERNMENT IN THE SUNSHINE”, it is a ‘dutty’ SHAME to see how public business is being conducted in the country. They must have meant they will do the public business where the DAMN SUN REFUSE SHINE!
NOT ONE FACE FROM BTC OR CABLE & WIRELESS HAVE EMERGED TO THE PUBLIC TO ANNOUNCE THE SALE OF THE CORPORATION! WHAT WICKEDNESS!
Also since the announcement of the sale last week, BTC cell and landline services have had frequent disruptions for long periods each time.