Faber Criticizes Secretive BEL Acquisition Plan

Opposition Senator Patrick Faber has launched a scathing critique of the Belizean government’s secretive plan to acquire Fortis Belize and its shares in Belize Electricity Limited (BEL). Faber accuses the Briceño administration of lacking transparency in its dealings with Fortis principals, particularly regarding the financial and procedural details of the agreement. The senator expressed frustration over the rushed legislative process, which he claims forces the Senate to evaluate, study, and pass the bill in a single sitting. Faber described this approach as ‘unconscionable,’ suggesting the government is attempting to push through a significant financial deal without proper scrutiny. The acquisition includes Fortis Belize Ltd., which owns three hydroelectric dams, at a reported cost of $110 million USD. Faber questioned whether the payment has already been made, citing discrepancies in the circulated documents, including one marked ‘executed’ with the prime minister’s signature. This move, according to Faber, represents an unnecessary and costly expansion of the government’s initial plan to repurchase BEL shares.