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Big Creek Group says PBL acquisition puts their future at risk

HighlightsBig Creek Group says PBL acquisition puts their future at risk

BELIZE CITY, Thurs. Dec.19, 2023

The Big Creek Group which operates the port of Big Creek has penned a letter to the Prime Minister expressing great concern about the Government’s buy over of the Belize City port. They add that they were not consulted about the acquisition.

Director Zaid Flores tells PM John Briceno in the letter, dated December 15, that as one of the biggest employers in the south, and as a significant economic contributor, providing jobs to more than 250 persons, they expected to – at the very least – have been notified about the decision. The letter states, “We are concerned about the future of the Port of Big Creek and that of our employees.”

The Group accuses that the decision “made in secret” was driven by political considerations and not based on “prudent economic or business practices.”

The Group then states that it categorically rejects the “use of government funds, influence, or security to enhance a facility that directly competes with the Port of Big Creek.” Flores says they assumed significant risks and took on debt to improve their port over the years to gain a competitive edge. They note that the government’s takeover of Port of Belize now jeopardizes those investments.

According to Flores, the Prime Minister had personally assured them that Government would not acquire the Belize City port.

The Group also makes the affirmation that Port of Belize will be unable to repay the purchase cost without the increase in port tariffs. Flores tells the PM that they had repeatedly requested an increase which he refused to grant. The Group then proclaims that the Government is now the player and referee in the port sector and will ensure Port of Belize is successful. It therefore demands that the Government grant the port of Big Creek the same accommodations and benefits it will afford Port of Belize.

It also says it will wait to see how the Government will address dredging at Port of Belize since it twice rejected the former owner’s request.

(Story courtesy of Krem Radio)

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