PUBLIC PURPOSE REQUIREMENT FOR NATIONALIZATION IN BELIZE.

While PM Barrow and his government lawyers are seeking to define nationalization of BTL and BEL in terms of the Constitution. The end result is, it has to be for a PUBLIC PURPOSE!

The PUBLIC PURPOSE is easy! The country is growing in population and GDP growth. The public utilities as in a monopoly when our country was younger and smaller in population, needed outside Foreign expertise. That expertise served it´s purpose to a point, but what has been learned by all segments of society, is that a MONOPOLY for a utility is not a good thing. Without competition in such a small market, the Foreign Expert company doing the management is guided by principals of working FOR PROFIT. The needs of the country is that we require constant reinvestment of the utility profit, or a good portion of the profit from MONOPOLY UTILITIES to be RE-INVESTED in the country and utility company, as the growing demand for expansion of the utility company expansion is CONSTANT. What the effect of our utilities has been that are FOREIGN EXPERT PRIVATELY OWNED, is that they cream off the profit and take it out of the country. Often most of the money earned is not enough to expand the infra structure, or even maintain existing infra structure of the utility. The FOREIGN OWNER is interested only in PROFIT and the method is to demand and insist that ALL GROWTH of that utility be FUNDED from LOANS. Such Loans are demanded to be guaranteed by the government of Belize. The NATIONAL DEBT keeps increasing to astronomical levels, which we are unable to pay, caused by utility monopolies that do not re-invest enough of their profits into the necessary growth of the utility company. Since the government guarantees those loans, the country DEBT PROFILE keeps increasing and to meet the cost of the UTILITY DEBTS created by a profit making Foreign investor company, intent on taking the profits out of the country, there is no re-investment in the utility company to grow sufficiently, with the population and country GDP requirements. Once sufficient managment expertise is achieved through education within a small third world country like Belize, it behooves the GOVERNMENT as a point of NATIONAL INTEREST, to stop the flight of earnings by the monopoly utility companies abroad, and to see for the NATIONAL INTEREST, that profits are shared in dividends and reínvestment growth, which is constant in utility companies. The NATIONAL INTEREST is in seeing the monopoly utility company pays it´s own way, as much as possible to grow incremently with the growth of the nation. The idea of robbing Peter to pay Paul, or taking the taxes from the sugar crop, or sales tax ( GST ) to subsidize the loans required for re-investment by the monopoly utility, or raising of rates to pay off those loans and interest payments, has to stop, when the government of the day has sufficient expertise to take back control of the monopoly utility and run it.
The Foreign Owned monopoly utility thus works itself out of a job, like a colonial governmnet by training and educating the locals to do that expertise which they were once hired for. Nationalization of majority shares in said utility is the way this is done. The shares are then agreed to be paid for in a mutual agreed manner. The growing debt burden of having a Foreign Company manage the monopoly utility for their profit, is no longer needed and is fact, BAD for the DEBT PROFILE of the country. Stopping the growth of National Debt trumps, the need to let a Foreign Utility owner cream off the profits and take them out of the country.