Opposition Slams GOB Over Fortis Buyout

The Belizean government’s recent announcement of its acquisition of hydro plants and Fortis’ shares in BEL has sparked significant controversy. The Opposition, led by Tracy Panton and the U.D.P. caucus, has raised serious concerns about the lack of transparency surrounding the multi-million-dollar deal. They argue that the process has been rushed without adequate disclosure to the public, questioning whether an independent valuation, cost-benefit analysis, or regulatory review was conducted. The Opposition has also cast doubt on whether the acquisition will lead to reduced electricity costs for citizens. Additionally, they warn that a special budget appropriation for the deal could result in increased borrowing, higher national debt, and a greater financial burden on taxpayers. In response, the Opposition is demanding the immediate release of all financial documents and valuations related to the acquisition. These concerns are expected to be a focal point during Friday’s House Sitting in Belmopan, where further scrutiny of the deal is anticipated.