And while the Prime Minister was glum about the fuel pronouncement,
he was visibly angry when he discussed the issue of BTL and SMART. Before the
takeover, the two were jointly harnessed in a managed competition situation
– where a single interest controlled both companies. According to the
Prime Minister, that resulted in multiple contracts which served the corporate
overlord, but did not benefit taxpayers, or, for that matter, rate payers. Two
agreements that he singled out for special attention today were the interconnection
agreement which continues indefinitely and the tower space rental agreement
which ends in 2019. According to the PM, in both cases SMART was allowed to
get the better of BTL and he didn’t mince words about who’s responsible.
Hon. Dean Barrow,
“Lord Ashcroft can holler until the cows come home that he is not
or he was not the owner of BTL, that he is not the owner of SPEEDNET, that these
famous or infamous trusts are in fact the owners of the two companies. Those
trusts are controlled by trustees and the trustees are in turn controlled by
some corporal body and I have absolutely no doubt in my mind that that body
is Lord Michael Ashcroft. So I don’t want to hear any foolishness about,
‘oh I have no economic interest in the….’ Please, that is
most upsetting and irritating at any rate.
Had Telemedia give to Speednet two critical agreements, an interconnection
agreement dated sixth February 2004 and a tower release agreement dated 6th
February 2004 between Speednet and BTL. And the rates at which those agreements
were given in my view are scandalous.
SMART as a consequence of these grossly unfavorable arrangements, unfavouable
to Telemedia, favorable to itself, will be able to make lots of money. The profits
from which would go into the pockets of the person that ultimately controls
SMART. Telemedia would stand ultimately to lose a consequence of these arrangements.
But it didn’t matter to that same person who controlled Telemedia because
he would then come to us and say under the Accommodation Agreement, Telemedia
has not made 15% rate of return, you get it from Belizean taxpayers and put
it in my pocket.”
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