September 22 - 28, 2012
TURKS AND CAICOS WEEKLY NEWS
NEWS
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Chevron TCI sells assets to French company BY VANESSA NARINE A FRENCH supplier of petroleum, the multinational company RUBIS, is the newest investor in the Turks and Caicos Islands (TCI) with its purchase of Chevron’s assets here. Governor Ric Todd, at a
press conference on Wednesday, explained that RUBIS has already invested some $20m in the economy. Locally, RUBIS is expected to take over as the wholesale supplier to Texaco gas stations across the Islands. Todd noted that more details on
the company’s operations would be available soon. He also pointed out that the company recently donated $5,000 to the Wellness Centre on Grand Turk. The Governor added that RUBIS is looking to adopt a school in Providenciales. Todd described the company’s
Milestone progress resulted in far-reaching reforms, Governor GOVERNOR Ric Todd, on Tuesday, made public his final report on the milestones and contends that their progress has resulted in far-reaching reforms in the Turks and Caicos Islands. According to him, progress against the eight milestones has left the TCI with an improved, more effective and sustainable public service; modernised legislation; stronger control of its public finances investing in key priorities; and sound management of the economy, which has been growing since 2010 and by 4.1 per cent in 2011. Todd maintains that these principles have sought to instil good governance at the heart of the public service and have underpinned the activities of the interim administration since it took on responsibility for governing the territory. This happened following the suspension of the TCI Constitution after the damning conclusions reached by the Sir Robin Auld led Commission of Inquiry in 2009. The six-month long, highly detailed investigation by Sir Robin concluded that there was a high probability of systematic corruption in the TCI Government, legislature and public officers of the territory; compounded by a serious deterioration – from an already low level – in the territory’s system of governance and public financial management. This corruption appeared to have consisted mainly of bribery and fraud by developers and other investors of ministers and public officers, so as to secure Crown land on favourable terms. The eight milestones themselves were published in 2010 and outlined the practical steps that would need to be taken in order address the institutional problems and return to an elected assembly and government. The eight milestones are: 1. Implementation of a new TCI Constitution Order, in support of recommendations of the Commission of Inquiry, which
underpins good governance and sound public financial management; 2. Introduction of a number of new ordinances, including those making provision for: i) the electoral process and regulation of political parties; ii) integrity and accountability in public life; iii) public financial management; 3. Establishment of robust and transparent public financial management processes to provide a stable economic environment and a strengthening of the TCI Government's capacity to manage its public finances; 4. Implementation of budget measures to put the TCI Government on track to achieve a fiscal surplus in the financial year ending March 2013; 5. Implementation of a transparent and fair process for acquisition of Turks and Caicos Islander status; 6. Significant progress with the civil and criminal process recommended by the Commission of Inquiry, and implementation of measures to enable these to continue unimpeded; 7. Implementation of a new Crown land policy; 8. Substantial progress in the reform of the Public Service. Todd said, “The beneficial changes brought about by the milestones provides any future elected administration with a solid and more sustainable base with which to consider affordable levels of public expenditure, demonstrate continued good governance and achieve sustainable economic development to the benefit of all people in TCI. “I would like to take this opportunity to thank everyone across TCI, in the Governor’s Office and UK government for all of their hard work and commitment to embed the reforms in everyday practices and embrace these better ways of working. “The support provided by TCI public servants, advisers, legal drafters and numerous other
contributors has been exceptional. “The programme of work to modernise the management and delivery of public services in TCI, as well as to put public finances on the road to recovery, modernise legislation and strengthen the economy is simply the most extensive undertaken for any UK overseas territory.” Achievements against them have led to the TCI Constitution being reinstated on October 15, triggering the general election on November 9.
Corporate Social Responsibility (CSR) programme as an “ambition plan” – one he commended. GOOD INDICATOR The Governor explained that the investment is indicative of investor confidence in the local economy. Todd said, “They would not put $20m in an economy that is in free fall or collapsing or in recession or hopeless,” He pointed to other recent investments, signs of the economic turnaround, which include Amanyara’s expansion follows, Digicel’s $7m growth plans for TCI, the £15 million second Fixed Based Operation (FBO) at the airport and the $9m investment in a new medical school. The Governor also pointed to the proposal for the development of a high-rise in the TCI. He said, “Their (the developers) willingness to invest $200m is of course a major vote of confidence in TCI, illustrating both the strong economic position which TCI currently has and the potential of the islands.” Todd added that the Interim Administration has invested significantly in improving the economy. According to him, an elected government will have a good “starting point” from where they can
continue economic progress. PLANS The Governor also told the media that RUBIS has not only bought Chevron’s assets, but has plans to develop the business. He stated that the company is reviewing alternative ways to import fuel into the TCI, among other developments. “RUBIS is looking at lower cost and more efficient ways to bring fuel into the country…they are looking at different options,” Todd said. Chevron’s sale of its assets in the TCI follows the recent wind-down of operations in Cayman Islands and the Bahamas. After the French Antilles and French Guiana in 2005, Bermuda in 2006, the latest RUBIS acquisitions in the Caribbean is fast establishing the company’s position as a leading independent petroleum products distributor. RUBIS distributes Liquid Petroleum Gas, retail, commercial and aviation fuel, and refined products. While Chevron continues its retreat from the Caribbean region, the French multinational has projected strong growth in 2012 based on these acquisitions.
The damaged vehicle
Man killed in weekend smash-up PAUL Joseph, 28, was killed on Saturday in a smash-up in the vicinity of Suzie’s Turn on the Leeward Highway. Joseph suffered fatal injuries when the vehicle in which he was a passenger collided with another vehicle. Both drivers and the passengers of the second vehicle suffered non life threatening injuries.
Seargeant Diamond from RTCI Police said,“The 911 center was alerted just after 11:00pm on Saturday to a serious motor vehicle accident at the roundabout on the eastern carriageway of the Leeward Highway, in front of Suzie Turn involving two vehicles. “All four passengers of the two vehicles were injured and rushed
to the Cheshire Hall Medical Centre by ambulance. “Sadly one of the passengers succumbed to his injuries and was pronounced dead at 1am.” Police are continuing their investigation into the accident. Anyone who either saw the collision or who has information to call the police at 911 or Crimestoppers at 1-800-8477.