April 20, 2007

A release from the People’s United Party Secretariat says the Government of Belize is not entertaining any sale of its shares in the oil revenues of Belize Natural Energy Company Limited. The release says a few weeks ago in a meeting with the Prime Minister and other Government officials, B-N-E and its representatives made a suggestion that G-O-B could sell its 10 percent equity in the Spanish Lookout oil fields. The release further states the matter was routinely taken to the next Cabinet meeting like many other proposals that are made to the Government but it was turned down. On Monday the Press Office issued a press release but the P-U-P say the release was misinterpreted to mean that the proposal was still on the table when in reality it had been discussed and rejected. Since the beginning of this week a number of organizations have sent out condemnation of the proposed sale. These include the Belize Chamber of Commerce and Industry, Vision Inspired by the People, the Lake Independence Community Development Program and the National Trade Union Congress of Belize. In their release the United Democratic Party said it welcomed in principle the idea of the sale however they would want to see ordinary Belizeans owning the shares and revenues derived from the sale be put in the petroleum fund.