03152019 BUSINESS

business@tribunemedia.net

FRIDAY, MARCH 15, 2019

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By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE deputy prime minister yesterday said “the crystal ball is not exactly clear” in response to Moody’s warning that the government will not hit its 2020-2021 budget surplus target.

KP Turnquest told Tribune Business that the government remained confident in its three-year fiscal consolidation plan forecasts especially since it was “making up some ground” on its 2018-2019 revenue collections.

While declining to give figures, Mr Turnquest indicated the projected $185m revenue shortfall for the current fiscal year has been narrowed during early 2019 - a period when tax collections traditionally peak, as it coincides with the winter tourism season, business licence fee payments, commercial vehicle month, the bulk of real property tax collections.

This year’s January to March period also represents when the full effects of the 12 percent VAT rate kick-in, with the transition periods afforded the hotel/ tourism and construction industries - two key revenue earning sectors - come to an end.

Mr Turnquest said 20192020, which will be the first full year of 12 percent VAT, will also witness a fully-fledged Revenue Enhancement Unit (REU) going after an estimated

SEE PAGE 4

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

T

HE National Health Insurance Authority (NHIA)must“give it another go” after failing to win Cabinet approval for the scheme at the first try, a minister revealed yesterday.

Dr Duane Sands, pictured, minister of health, disclosed to Tribune Business that the government wants answers to multiple questions raised during the authority’s first presentation to Cabinet on the reformed healthcare financing plan.

While not providing specifics on the queries raised

by Cabinet, Dr Sands indicated there needed to be further testing of the “assumptions” that the NHI Authority has made to support how it has chosen to structure the scheme’s

Tribune Business Reporter

nmckenzie@tribunemedia.net LOVE Beach residents have voiced strong opposition to a proposed resort-based development, arguing it will violate zoning restrictions, destroy the beach and disrupt the community’s peace.

Dozens attended a public Town Planning Committee meeting on Wednesday night to object to ‘The View Love Beach’ project, which is being being proposed by an entity called Mylor Caribbean Development, and urge its rejection.

Mylor Caribbean Development’s beneficial owners were not formally identified, although residents suggested that controversial Austrian financier, Dr Mirko Kovats, was behind the project.

Dr Kovats, a Bahamas resident who owns a home at Lyford Cay, was behind a 2014 bid to acquire the still-closed 363-acre South Ocean resort in southwestern New Providence - a proposal that was revealed

by Tribune Business. However, no deal was sealed with the property’s owner.

According to its website, Mylor is an “investment vehicle” created in Hong Kong SAR (China) in 2005, and financed by multiple investors specialised in real estate development. That company, which purports

managing director, Graham Whitmarsh - for doing “an absolutely superb job” with the breadth and depth of the consultation process they engaged in.

The minister added that once the NHI Authority “crosses the ‘t’s’ and dots the ‘i’s’” it will ultimately come down to the government’s highest decision-making body to determine “whether we’re going to play or punt”.

“They’ve given a presentation to Cabinet,” Dr Sands told this newspaper of the NHI Authority.

“We have not made a definitive decision as yet. There are additional questions to be answered, and more

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE New Providence landfill’s new operator yesterday said it is “well armed with funding and ready to go” as it takes over the site’s management for the first time today.

Henry Dean, head of the Waste Resources Development Group (WRDG), told Tribune Business that the winning bidder had already mobilised with “no less than 50 trucks” ready to haul fill to the Tonique Williams Highway site to ensure all garbage is fully covered.

Pledging that the 100 percent Bahamian-owned

to be a retirement housing development entity, “created Mylor Caribbean Development Ltd to identify perfect properties for its clients and investors”.

“We are currently exploring several acquisitions in The Bahamas and in the Turks & Caicos. Our intention is to offer to our clients a very unique one-stop service, where our operation will provide package-acquisition, inclusive of residency permit, and with all facilities to make our clients and investors’ retirement one of their happiest time ever,” its website said.

Its plans, which are currently under review by the Department of Physical Planning, call for a resort development on 7.44 acres of property in the Love Beach Subdivision. It is eyeing a four-storey, 40-room hotel; four storey restaurant facility with bar/ lounge; two four-storey timeshare buildings; ten over-water bungalows; and three single-storey service buildings.

Jason Lorandos, principal of the Architekton Design Studio, the project’s architect, told attendees that the hotel component had been scrapped. He said that based on the concerns expressed by residents there could likely be a following-up meeting with an updated proposal.

SEE PAGE 7

group will deliver “a first class experience for all of us”, Mr Dean said its first

priority upon formally taking charge today will be “to kill or bring as as close

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

SEE PAGE 5

SEE PAGE 7

specifics about some of the things dealt with somewhat hurriedly. We need to know how they would work specifically.

“I suspect they’ll need to come back and present to Cabinet again. As we get closer to the finish line, and hopefully we’re getting closer, it becomes incredibly important to look at the process by which certain decisions are made.

“What will be the impact on the economy? If you look at the benefits in the Standard Health Benefit, why have you included this and not included that?

What are the implications

SEE PAGE 4

• Private operator takes over site today • Mobilised ‘no less than 50 trucks’ already • Pledges to deliver ‘first class experience’

AERIAL view of the New Providence landfill on fire.

Employees facing uphill battle over grievance redress

to zero as possible” the risk of major fires breaking out at the site.

WRDG has partnered with Providence Advisors, the Bahamian investment bank, to form New Providence Ecology Park Ltd, the entity that will oversee the landfill’s transformation. Mr Dean predicted that the group’s efforts to raise the initial $20m financing it requires will likely be

• Does not approve health scheme at first try • NHI Authority must ‘give it another go’ • Delay ‘casts no aspersions’ on work done

financing, operational and administrative mechanisms.

He hinted that the questions posed included the proposed inclusion/noninclusion of certain medical treatments in NHI’s Standard Health Benefits (SHB) package; whether the pricing/cost estimates for these benefits can be “substantiated”; and how the scheme will impact employers, employees and the wider Bahamian economy.

Dr Sands emphasised that NHI had not been rejected

by Cabinet, and said the request for further clarification “casts no aspersions” at the scheme. He praised the authority - led by chairman, Dr Robin Roberts, and

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WEAKNESSES in the Bahamian judicial system prevent many employees from seeking redress for discrimination and other forms of victimisation, the US State Department is arguing.

Its 2018 human rights report, released this week, said the Bahamian government fails “to effectively enforce” many aspects of this nation’s labour laws, including those designed to prevent employment discrimination in multiple forms.

“The law prohibits discrimination in employment based on race, colour, national origin, creed, sex, marital status, political opinion, age, HIV status, or disability, but not based on language, sexual orientation or gender identity, religion, or social status,” the US State Department report said.

“The government did not effectively enforce the law, and while the law allows victims to sue for damages, many citizens were unable to avail themselves of this remedy due to poor availability of legal representation and the ability of wealthy defendants to drag out the process in courts.”

The report noted that there was “a case backlog of up to three years at the Industrial Tribunal”, which further exacerbates the difficulties employees with legitimate grievances encounter in trying to bring actions against employers with deeper financial pockets.

The government has established the Office of the Public Defender to give low income Bahamians access to better legal representation, but its remit appears not to extend to the multiple employment-related disputes that are a prominent feature of the system.

Landfill manager ‘well armed and ready to go’

Love Beach battles resort development

By NATARIO MCKENZIE

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Cabinet demands answers on NHI

DPM on Moody’s: ‘Crystal ball is not exactly clear’

KP TURNQUEST

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PAGE 2, Friday, March 15, 2019

THE TRIBUNE

PRODUCING CHANGE STAFF CAN BELIEVE IN

I

F you want to know why so many companies sink into chaos, take time to listen to the language used by their leaders.

Leadership, at any level, is certainly not easy, but unclear, vague, rollercoaster pronouncements make many top managers’ jobs more difficult than they need to be.

In the absence of clear communication that satisfies the urgent desire to know what the boss is really thinking, people imagine all kinds of motives. The result is often sloppy behaviour and misalignment that can cost a company dearly.

Precious time is wasted, rumours abound, talented people lose their focus, and big projects fail.

This becomes particularly important when major change is being proposed in a company. What a leader

does, and says, has serious implications for the level of productivity and efficiency in the worksplace.

Here are seven suggestions for communicating the realities of change in your company: 1. Be clear and honest about what is changing and why Any sort of spin, sugarcoating or jargon is going to look like you are trying to hide something. You will gain employees’ trust if you use simple, straightforward language, and are completely upfront about what is changing and why. Do not talk down to employees; this only makes them feel resentful and unvalued.

2. Consider the emotional impact of the change Human resource-related changes often strike a personal chord with employees.

Adjustments to medical or

life insurance plans can stir a great deal of uncertainty that requires answers. Take these concerns into consideration when crafting your message, and outright acknowledge them too.

Sometimes people just need to feel heard.

3.

Tell employees what is in it for them It is the age-old marketing adage: What’s in it for me? In times of transition, people naturally resort to selfish mode, looking out for “number one”. Explain the benefits of the change and what employees will get from it. Yes, things will be different- acknowledge that. Yes, everyone may not like what’s changing acknowledge that, too. But there is generally an upside, so outline that as well. Then thank employees for their patience, co-operation, ongoing contributions to the company and for sticking

with you through the shift.

4. Explain how the change will happen Employees feel reassured, and are more easily able to get on board, when you paint a clear picture of what is going to happen and when. If you have to use a numbered step-by-step list, do it. If your employees respond well to graphics, use them. Just make sure to set expectations by explaining the process so people can clearly see the road ahead.

5. Tell employees what they need to do The infamous call to action. It is critical to outline what needs to be done, and when. This is what people are looking for at the end of a communication, so use bullet points, bold font, links to websites to highlight the necessary action.

6. Consider the source – and the channels

Change communications are generally best delivered from the top. Develop a cascading messaging strategy that starts with your leaders, and then encourage managers at all levels to discuss the change in more detail with their teams.

Make sure to use a variety of media: E-mail, full meetings, company intranet and any other communication methods available.

7. Open two-way communication channels During these times of transition, employees need to be heard. Create two-way communication channels where they can ask questions, express their concerns and get answers. A dedicated e-mail alias is a great start, but a town hall (or series of them) goes one step further. Allow employees to ask questions and address all of them, clearly and honestly.

IAN FERGUSON BY

• NB: Ian R Ferguson is a talent management and organisational development consultant, having completed graduate studies with regional and international universities. He has served organsations, both locally and globally, providing relevant solutions to their business growth and development issues. He may be contacted at iferguson@ bahamas.com.

Bahamas signs UK aviation deal THE Bahamas has moved to boost aviation links with the UK through the signing of an Air Service Agreement (ASA) between the two countries.

Dionisio D’Aguilar, minister of tourism and aviation, executed the agreement on The Bahamas’ behalf on March 5 during a signing ceremony at the Great Minister House in London. Baroness Sugg, the UK’s parliamentary under-secretary of state for transport, officially

signed for the UK. The agreement with the UK takes the number of ASAs that The Bahamas has signed with other International Civil Aviation Organisation (ICAO) states to 20.

Mr D’Aguilar said the agreement with the UK is designed to drive future economic growth and stimulus through the aviation sector. Air service agreements provide financial incentives, and internationally-agreed

FROM left: Juliea Brathwaite-Rolle, manager of safety oversight for the Bahamas Civil Aviation Authority; Ellison Greenslade, The Bahamas High Commissioner to the UK; Dionisio D’Aguilar, minister of tourism and aviation; Baroness Sugg, parliamentary under-secretary of state for transport for the UK; and James Gilderoy, senior air services negotiator, technology and international aviation. rules and regulations, which govern how foreign airlines from a specific country can provide service to The Bahamas - either directly or via a code share arrangement.

As a result, when a foreign carrier expresses an interest in launching air services to The Bahamas, the regulatory regime is already in place and service can commence quickly without

DIONISIO D’AGUILAR, minister of tourism and aviation, and Baroness Sugg, parliamentary under-secretary of state for transport for the UK . encountering undue bureaucratic delays.

This will also make travel easier for Bahamians who are visiting, in greater numbers, destinations throughout the world, and for the growing number of persons across the globe who wish to come to

The Bahamas.

Other members of the Bahamian delegation included Ellison Greenslade, The Bahamas’ high commissioner to the UK, and Juliea Brathwaite-Rolle, manager of safety oversight for the Bahamas Civil Aviation Authority.

WORKS MINISTRY TO HOLD CONTRACTOR WORKSHOPS THE Ministry of Public Works (MOPW) yesterday said it will hosting two workshops on “proper construction practices” to ensure contractors adhere to local and international building codes.

“One of the core principles of this ministry is the sharing of knowledge with all of our stakeholders in order to improve the infrastructure and construction practices in The Bahamas,” said Melony Roach, director of works.

“We believe that an informed contractor base is of vital importance to the delivery of service to the country. It is all well and

FROM left: Selena Curry, senior building inspector; Antoinette Thompson, permanent secretary; Melany Roach, director of works; and Damian Francis, deputy director of works.

Photo: Derek Smith/BIS good for the Ministry of Public Works to do designs that are to international and local codes of practice and standards, but if the contractors do not transfer our designs into proper construction practices then all of our work would have been in vain and we would have put the safety of the general public into question.”

The Ministry, in conjunction with the Caribbean Development Bank (CDB), will host a National Contractor’s Workshop on Improved construction practices in New Providence at Holy Trinity Activity Centre, Stapledon Gardens,on Tuesday, March 19. The workshop will be staged in Freeport at the Bahamas Public Services Union Hall on Thursday, March 21. The workshops are free of charge and will be held from 9am to 4pm.

Selena Curry, senior building inspector, and Timothy Johnson, acting chief architect, participated in a Caribbean Technology Consultancy Agency Network training initiative

in Barbados recently that highighted the need to provide information on improved construction practices to planning and building inspectors.

Ms Curry explained: “This sector is dominated by artisans who construct houses that are not in keeping with building standards and codes, primarily due to their lack of knowledge and government compliance requirements.

“The housing sector is often severely affected by natural disasters in the Caribbean region, constructed by an informal building sector and usually operated outside the scope of formal construction industry practices regulated by the planning and building authorities.

“We received training in ways that we can build more resilient houses to withstand a category 5 hurricane.

The hurricanes are coming stronger and we are also experiencing earthquakes.

We need to now build our structures to meet these challenges that are caused by climate change.”

The workshops will share the knowledge and experience acquired by Ms Curry and Mr Johnson with small contractors, draftsmen, building inspectors, small contractors and anyone who may be building a home or interested in construction.

“We now have bankers who are building contractors,” Ms Curry said. “[They are] coming from teaching, real estate; sometimes they come with some skills and apprenticeship, and sometimes they come with as little as no knowledge. They are out in the field and they are building. The mandate is to train them, and they can go and train the lay persons on the jobs to build more resilient houses.”

She outlined some of the challenges the Ministry is faced with on home construction.

They include homes that are constructed too close to the boundary, and problems with the layout of the property, such as finding out it has cavities or blow-out holes; incorrect strength of the concrete mixture; and selecting the wrong foundation.

“All of these we would like to impart to persons to become more cognisant of the construction field. They probably seem minor, but when it comes to building the house these can lead to complaints and, in some cases, litigation between the contractor and the homeowner,” Ms Curry added.

THE TRIBUNE

Friday, March 15, 2019, PAGE 3

Financial sector ‘has some responsibility’ for EU woes

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net A LEADING accountant yesterday said the financial services industry must “bear some responsibility” for The Bahamas’ constant struggles with international regulatory initiatives.

Gowon Bowe, the Bahamas Institute of Chartered Accountants (BICA) president, told Tribune Business that some in the sector had attempted to cling on to the old secrecy/ tax avoidance business model rather than respond proactively as the world changed around them.

Agreeing that The Bahamas has much work to do despite escaping the European Union’s (EU) tax “blacklist” this week, Mr Bowe said: “When we keep speaking about the upheaval in the financial services sector I think that there needs to be a realisation and acknowledgement by the industry that we have have some responsibility to bear for what has transpired.

“We have looked at our practices and service offerings, and hoped that the policymakers and the regulatory infrastructure could accommodate the continuation of business the same way. The world of financial services has changed, and not just in the last few years...

“Unfortunately, I think that we as an industry, equal to government, have been reacting to what has taken place as opposed to being proactive and saying what is the new product offering and paradigm as it relates to tax planning, wealth management, estate planning

GOWON BOWE etc. If we don’t define our niche market, our valueadded products, then in reality it doesn’t matter what our regulatory and legal framework is; it will always simply be responding to threats by external parties.”

Mr Bowe continued: “I think that it’s probably foolhardy to say we have gotten a reprieve in this regard by being kept on the [EU] ‘grey’ list because what it says is we have been given more time to define our identity and then, holistically, start building our legal and regulatory framework around it.

“If industry is not proactive in giving government

an identity, a product offering or offerings as well as the framework they need to have in order to be successful in offering it, then we cannot expect anything other than government being reactionary.”

It was confirmed earlier this week that The Bahamas had avoided the EU’s 15-strong “blacklist” of nations deemed uncooperative in the fight against tax evasion/avoidance. It is, though, among 34 jurisdictions that have been given until end-2019 to fulfill their commitments to complying with the EU’s demands otherwise they could be “blacklisted” in 2020.

“We shouldn’t just simply

keep doing what we have been doing and tinker with our legislation in order to make us compliant or be seen to be compliant,” Mr Bowe added. “We have to now say what is the new product and the new value proposition; what is the new identity for financial services in The Bahamas?

“We have to define that: The necessary tax infrastructure, the business operating model, to enable efficient business and promote it to the world. I think that when we look at our competitors, some of them have been doing a much better job at saying this is our sweet spot in terms of products and services. This is what the high net worth persons and the international market desire.”

Mr Bowe argued that The Bahamas should not continue to compare itself to other “grey list” jurisdictions but should rather its “white list competitors”.

“We look at our competitors as being the Cayman Islands, Guernsey and other legacy tax havens,” he added. “What we should really be comparing ourselves to is not fellow grey list competitors but white list competitors whether we believe that they should be on the white list or not.

“We should be saying how do we go and eat their lunch. Look at what they have in place, develop multiple products and services, and do it more efficiently to draw people to our jurisdiction. That is going to require brave thinking and brave initiatives. We cannot do it on our own.

“We need international expertise in the legal profession, accounting profession and wealth

management profession. It’s not a case of continuing with some of the xenophobia we have had, but welcoming talent from international

sources in order to drive the very business that they actually solicit to our jurisdiction and, at the same time, develop our local talent.”

PAGE 4, Friday, March 15, 2019

THE TRIBUNE

Cabinet demands answers on NHI FROM PAGE ONE

when it has yet to agree a fee schedule with both doctors and medical facilities - the basic determinant of how much healthcare will cost.

The greatest fear raised by the Bahamas Chamber of Commerce and Employers Confederation (BCCEC) and others in the private sector is that if the NHI Authority gets its calculations wrong, and the $1,000 SHB premium severely undervalues the scheme’s price tag, businesses and their employees could be burdened with ever-increasing levies to finance its escalating costs.

Dr Sands’ remarks suggest some members of the Minnis Cabinet raised similar concerns, but he expressed confidence that the NHI Authority would be able to adequately address all queries that were raised.

“Hopefully now a number of the outstanding questions will be able to be answered for the satisfaction of Cabinet, and decisions made as to how to proceed,” Dr Sands told Tribune Business.

“Once the ‘i’s’ are dotted to the satisfaction of the

NHI Authority, the plan will be to seek an audience with Cabinet and give it another go. I believe that they have tried to get the answers to the questions posed.

“As you move closer to a conclusion, a final proposal, it’s like dotting the ‘i’s’ and crossing the ‘t’s’, looking at the polling data to see how people feel about this, how they feel about that; what impact does a particular approach have for a particular industry; and what is the real level of support among employers, employees and unions.

“It’s going to be critically important to have done your homework, and have done it well. That’s where I think we are. There has certainly been substantive progress.”

Dr Sands added that “the implications of certain policy approaches” to different parts of the NHI scheme needed to be “tested” so that the conclusions were based on sound “assumptions”.

Proposed NHI financing mechanisms include VAT levied on health insurance premiums; a reallocation from the existing Public

Hospitals Authority (PHA) budget; and a so-called “sin tax” on sugary drinks.

The minister said the fiscal and other implications of such proposals needed to be worked through from the government’s side, and “a range of projected outcomes” obtained, so that the government could ensure its decisions were made on sound empirical evidence.

“Ultimately no matter how well the NHI Authority does its work it’s going to come down to the considered opinion of the Cabinet of The Bahamas,” Dr Sands told Tribune Business.

“There’s no aspersions cast at NHI. “It’s simply a matter of however much we try and predict, we can only give worst case, best case and likely scenarios, and have to decide whether to play or punt.”

Still, Dr Sands said the NHI Authority’s efforts to consult as widely as possible could not be challenged.

“I’m very pleased with the comprehensive approach they’ve taken,” he added.

“There’s no question they’ve done an absolutely superb job in reaching out

to the community in a very real way, and engaging a huge number of stakeholders. They have been to multiple islands, large and small communities up and down the country, and so I don’t think there’s any possible chance of anyone saying with any degree of sincerity that there’s not been a consultation process.”

Tribune Business revealed last month that NHI’s true cost was closer to a range between $200m to $236m, with the muchtouted $100m-$130m price tag only covering “the government’s exposure” to the scheme.

Healthcare for the 206,000 persons covered by the employer mandate will be financed through their annual $1,000 Standard Health Benefit (SHB) premium, NHI’s minimum level of care, which is to come from a combination of 1.5 percent of their annual gross salary and employer contributions.

This cost is separate, and on top of, the $130m that will be incurred by the government (Bahamian taxpayer) in financing NHI coverage for the 160,000

persons not covered by the employer mandate.

The NHI Authority has said the $130m cost for persons outside the “employer mandate” will be financed via “a diverse mix of revenue sources”, one of which is NHI’s “existing budget allocation” that stands at $20m.

That leaves a further $110m to be located, but the NHI Authority said it would come from VAT paid on private health insurance premiums; a “reallocation” of resources from the Public Hospitals Authority’s (PHA) existing $216m budget to cover services NHI will now provide; the $8m-$10m that a “sugary drinks tax” may raise; and the scheme’s own “risk equalisation” method.

However, neither the “sugary drinks tax” or the reallocation of VAT on health insurance premiums has been legislated or approved. And some 80-90 percent of the PHA’s budget goes on staff costs, with the Princess Margaret Hospital operator also consistently facing an annual $30m$40m funding shortfall.

DPM on Moody’s: ‘Crystal ball is not exactly clear’

their forecasts versus actual performance.

“We have our medium term fiscal plan that we’re continuing to work through,” the deputy prime minister said in response to Moody’s latest assessment. “We acknowledge that we’re a little behind on revenue, but we’re making up some ground and will see where we end up.

“We continue to be disciplined in our spending patterns, and the economy continues to grow, and we believe we’re in a good spot and will see what happens. The crystal ball is not exactly clear.”

Despite the $185m, or seven percent, revenue shortfall against projections

that was detailed in the recent mid-year budget, Mr Turnquest said a $130m, or five percent, cut to forecast spending would enable the government’s 2018-2019 fiscal deficit to come in $5m$10m below the predicted $237m.

Projecting that the revenue increases anticipated this fiscal year will now come through in 2019-2020, he added: “We made some estimates based on experience and what we could see we had in lost revenue.

“With the establishment of the Revenue Enhancement Unit we expect to be able to drive the compliance percentage up, which helps achieve our objectives. As far as VAT, we believe there will be some organic growth that we’ll realise with full implementation, and the first quarter numbers are looking positive in that regard.”

Moody’s, though, warned the government it will likely miss its target of generating a small budget surplus by 2020-2021, and predicted it will still be running a deficit equal to 1 percent of GDP. It suggested that the fiscal consolidation targets were overly-aggressive given The Bahamas’ poor track record

of meeting annual budget projections, and warned it may take one to two years longer than planned to achieve these goals.

“Because the government has not yet established a track record under its new fiscal rules, our baseline projections are slightly more conservative than the government’s. We expect a fiscal deficit of two percent of GDP in 2018-2019, and deficits slightly wider than the government’s targets in subsequent years,” Moody’s said in an analysis obtained

by Tribune Business.

Moody’s deficit analysis, while not representing a material deviation from the government’s forecasts, is nevertheless some 20 basis points higher. This, if it comes true, would add around $26.5m to the “red ink” incurred during the 2018-2019 fiscal year, taking the deficit to around $263.5m.

The credit rating agency said future deficits will also come in higher than those set out in the Minnis administration’s threeyear fiscal consolidation plan. While the government is forecasting a deficit equal to one percent of GDP for 2019-2020, keeping it in line with the

Fiscal Responsibility Act’s requirements, Moody’s is projecting that it will be around 1.8 percent.

As for the government’s ambition to run a GFS surplus of $10m in 2020-2021, likely the first time this would happen in modern Bahamian history, Moody’s dashed those hopes by projecting it would still run a deficit close to one percent of GDP. “They’re taking a very conservative position, which I don’t blame them for,” Mr Turnquest told Tribune Business, acknowledging that Moody’s had “been bitten in the past”.

He added that The Bahamas now had to “rebuild the credibility we need” by consistently delivering on its budget projections and economic growth forecasts, and said: “It’s dependent on results.

“That’s where we are because in the past we’ve been so wrong, to put it inelegantly, and been wrong for so many years that the credibility in projections is not there.” Mr Turnquest said an improvement in The Bahamas’ sovereign credit rating was likely some two years off until it can show it delivers.

if we include this and not that? Then there are the implications about the cost charges for things included in the Standard Health Benefit,” Dr Sands added, giving an insight into the issues in play.

“How far had this thing gone in terms of verifying how far these charges can be sustained. That involves conversations with various stakeholders, and at some point in time you’d need agreement. I would certainly say the conversation is ongoing.”

Little had been heard on NHI since the Authority completed its last round of consultations in early 2019, which were designed to inform medical industry, private sector and other stakeholders on the changes made following feedback provided on the scheme’s first policy document late last year.

One of the major queries raised by both healthcare providers and employers is how the NHI Authority has been able to price the scheme, and cost the SHB’s annual premium at $1,000,

FROM PAGE ONE $80m that the government believes is being lost to a combination of avoidance, evasion and collection inefficiencies.

Anticipating a further revenue boost in the upcoming fiscal year, Mr Turnquest said the government was holding firm to projections - as mandated by the Fiscal Responsibility Act - that it will slash the deficit to a sum equal to one

percent of GDP in 20192020 before producing a small $10m budget surplus the following year.

While Moody’s suggested it may take a year or two longer for the government to hit these and debt-toGDP targets, Mr Turnquest conceded it had every right to take a conservative approach towards The Bahamas given that it had been “bitten in the past” by previous administrations being “so wrong” with

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At this moment we are seeking to fill the following positions: HEAVY EQUIPMENT OPERATOR Candidate must be able to operator one of the following equipment’s: Backhoe, Telehandler, Dump Truck Operator certification is a requirement CRANE OPERATOR Candidate must be well experienced in operating moving crane Crane Operator license is a must SKILLED EQUIPMENT MAINTENANCE EXPERT Candidate will be responsible to review and complete list of equipment spare parts.

Revise job site equipment to determine which ones are needed. Organize maintenance process, etc.

SKILLED MECHANIC Experience working on hydraulic; truck engine and boat engine SKILLED ELECTRICIAN Candidate must have knowledge of 3 phase electricity; generator; able to do installation; understanding of blue print SKILLED PLUMBER Candidate must have knowledge of pipe work and installation as well as understanding of pitch QUANTITY SURVEYOR • Liaise and collaborate with the construction and design teams in all aspects of contractual activities. Take ownership for maximizing commercial results for allocated projects, to represent and meet client expectations • Prepare the cost / value reconciliation reports accurately • Agree final accounts with subcontractors to maximise project margins • Prepare or assist with cost/value reconciliation reports on a monthly basis • Agree final accounts with subcontractors to maximise project margin under direction of line manager CAD TECHNICIAN • Responsible of translating project requirements into drawings/models • Collaborate with other designers, engineers and architects to convert information into layout designs, drawings and models using REVIT and AutoCAD • Understand and operate according to project scope, specifications and design criteria • Ideally candidate will have at least 5 years of experience, knowledge of construction field, reading blueprints and architectural drawings preferred or equivalent combination of education and experience PROJECT QUALITY OFFICER • Assist with job site incident reporting, corrective action follow up, audits and advisory functions • Monitors job site development and implement Corrective and Preventive Action track quality control • Ensure that management system requirements are implemented and maintained • Maintain a system of reporting job site incidents and recommend solutions to rectify deviations • Conduct weekly and monthly inspections and audits based on project requirements • Bachelor’s degree on Quality Management / Health & Safety is required • Good knowledge on Health & Safety Management System & OHSAS 18001 Standards • Working knowledge of ISO 9001 requirements and Local Bahamians Regulations If you are interested in these great opportunities, please submit your resumé to: recruitment@bouygues-construction.com

THE TRIBUNE

Friday, March 15, 2019, PAGE 5

Landfill manager ‘well armed and ready to go’ FROM PAGE ONE

“oversubscribed”, adding that money was “no issue”.

He said New Providence Ecology Park’s 20-strong workforce was familiarising itself with the landfill’s layout and management concerns yesterday, prior to taking over from the Department of Environmental Health Services (DEHS), and promised that its work during the ten-year lease agreed with the government will benefit many more Bahamians than just the consortium.

“We are ready. Things are going well. We’re having orientation for all the employees as we speak, and all the equipment is identified. We’re good to go,” Mr Dean told this newspaper.

“We have a management team that is foreign, six to eight of them, and then the rest are Bahamian. Immediately we’re going to begin the process of identifying Bahamians to understudy them so Bahamians are being exposed to the science.”

Tribune Business sources, speaking on condition of anonymity, said New Providence Ecology Park’s management team has vast experience in managing landfills and waste across the globe, and in addressing the problems they create.

Its members are said to be especially well-versed in bringing order to chaos, and establishing rules and a regulated environment where none previously existed. “They’ve done a lot of work to get ready and are well-poised to take over tomorrow [today],” one source said.

“They’re used to going into uncertain situations and bringing order and everything to it. They are people familiar with going

into situations where there are not too many rules and regulations, and creating stuff from the ground up.”

Mr Dean, meanwhile, said New Providence Ecology Park had the necessary financing to underpin its plans. “We are well armed with funds,” he told Tribune Business. “We are ready for take over tomorrow. There is no issue with funding.

“I think we’ll be oversubscribed. This operation, this vehicle, provides interest returns that are far more than anyone is getting in the bank. This is a good opportunity for Bahamians with money to invest. We want, in the first instance, to offer it to Bahamian institutional investors who manage funds. There’s liquidity in the country, and liquidity available for us. We’re well on our way.”

Tribune Business reported last month how Mr Kerr, on New Providence Ecology Park’s behalf, was moving rapidly to “cement” previous investor financing commitments now that it had sealed the landfill deal with the government.

Mr Dean yesterday said the consortium planned to hit the ground running, explaining: “We have begun to stockpile fill so we can make sure the garbage is covered in a timely manner, and reduce the risk of fire,” he told this newspaper. “We want to kill that or bring that risk as close to zero as possible. That will be the first thrust.

“Right now we are hauling fill to cover the landfill, and I’m sure we have no less than 50 trucks being mobilised. Before we even takeover we’re creating income for people. While we are operators and investors, and the force behind it, there is much we will do that others will benefit from.”

NOTICE NOTICE is hereby given that AMAIRD WINSTON BROOKS of Carmichael Road, P. O. Box CR-55750, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 8th day of March, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

LEGAL NOTICE

NOTICE

International Business Companies Act (No. 45 of 2000)

EOLUS LEASING CORPORATION In Voluntary Liquidation Notice is hereby given in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of EOLUS LEASING CORPORATION has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register.

The date of completion of the dissolution was the 5th day of February 2018.

LEGAL NOTICE

NOTICE

THE INTERNATIONAL COMPANIES ACT, 2000 LIQUIDATOR’S STATEMENT PURSUANT TO SECTION 138 (6) OF THE INTERNATIONAL BUSINESS COMPANIES ACT, 2000 We, ELCO CORPORATE SERVICES LIMITED, Liquidator of Warwick Mann International Insurance Brokers Ltd (BAHAMAS) HEREBY CERTIFY that the winding up and dissolution has been completed in accordance with the Articles of Dissolution.

Dated this 15th day of March 2019

The New Providence landfill has represented a growing health and environmental hazard for years, with the frequent eruption of fires - and the associated fumes - a particular nuisance and disruption for residents and businesses in nearby communities such as Jubilee Gardens.

The situation worsened to such an extent that it was seen as threat to the tourism industry, especially hotels in Cable Beach and western New Providence, and high-end communities such as Albany and Lyford Cay. The government committed to remediating the landfill in its Heads of Agreement with Baha Mar’s new owner, Chow Tai Fook Enterprises (CTFE), an obligation that pushed it towards outsourcing the site’s management and a private sector solution.

Outlining New Providence Ecology Park’s other priorities, Mr Dean said it is focused on ensuring “clear road paths” through the landfill so vehicles can better access the areas they are trying to get to.

He added that the consortium planned to secure, and fence in, the entire landfill site “by the end of next month” as a means to prevent unauthorised access by the likes of scavengers - which has been blamed for starting fires in the past.

The Tonique Williams Highway entrance’s dropoff point for small amounts of garbage will be maintained, and Mr Dean said instructions for the disposal of garbage and other behaviours will be posed throughout the site.

“We’re making a scheduled meeting with the haulers for next week to advise them of the new procedures and changes that will be from tomorrow or, at the latest, Monday, and let people appreciate that if we are able to obtain our objectives we need the support of users and people coming in,” Mr Dean said. “We want them to support the challenges the landfill has; any landfill has; and their support is critical.

I cannot over-emphasise that.”

Mr Dean said New Providence Ecology Park’s initial focus will be on remediation, management and operations, adding that it will likely turn its attention to materials recycling, the separation of waste streams and other income-generating ventures towards the end of its first year in charge.

“We’ll begin to introduce revenue streams, how to convert this waste into wealth, income,” he pledged. “I think it [the landfill] has huge potential.

Let’s look at the shrubbery, the trees that come in every day. If we were to totally

isolate that and mulch it, we could approach the government and say: ‘We have enough mulch for the country. Could you not increase the tariff, protect this?’

“I think the government would do that as they would want us to succeed.” The New Providence landfill’s outsourcing is designed to extend the site’s longevity as well as transform waste management practices in The Bahamas, with Mr Dean suggesting this could extend to garbage collection depots being created for certain waste types in different parts of the island.

“It’s going to be a firstclass experience for all of us,” he told Tribune Business. “I am excited that we have this opportunity to demonstrate that we, as

a people, can do such things with a little help from outside.

“That’s where my head is.

Making this good, making this successful, making it a model where if we’re successful others can follow.

Giving the government kudos for its decision, we’re saying open it up and give others the some opportunity.”

To advertise in The Tribune, contact 502-2394

NOTICE NOTICE is hereby given that TATIYANA RAQUEL BERMANE of White Sound, Elbow Cay, Abaco, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 8th day of March, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE

NOTICE is hereby given that ROBIN JEANTIL of White Sound, Elbow Cay, Abaco, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 8th day of March, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE is hereby given that LEONARD LODIMUS of Gamble Heights Subdivision, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 8th day of March, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

MARKET REPORT THURSDAY, 14 MARCH 2019

t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com

BISX ALL SHARE INDEX: CLOSE 2,114.13 | CHG 0.05 | %CHG 0.00 | YTD 50.56 | YTD% 2.45 BISX LISTED & TRADED SECURITIES 52WK HI 4.50 20.91 7.50 5.50 1.96 0.96 3.68 10.20 6.60 4.64 12.50 2.74 1.81 9.02 6.40 15.60 6.99 4.47 13.85

52WK LOW 3.50 19.17 4.90 3.34 1.00 0.19 2.10 8.70 6.10 3.54 9.75 2.30 1.50 7.25 6.10 10.10 5.85 3.01 12.51

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

PREFERENCE SHARES

1.00 103.00 100.00 100.00 105.00 103.00 100.00 10.00 1.01

1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS EMAB FAM FBB FIN FCL JSJ CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

Bahamas Note 6.95 (2029) BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y

BAH29 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407

BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

MUTUAL FUNDS 52WK HI 2.20 4.24 2.03 184.51 158.55 1.60 1.74 1.69 1.12 6.99 8.54 6.15 10.52 11.46 10.46 10.00 8.69 11.79

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.54 1.68 1.63 1.08 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

LAST CLOSE 4.37 17.43 6.49 5.39 1.95 0.96 2.28 9.85 6.16 4.50 10.65 2.63 1.79 9.02 6.40 15.60 6.98 3.34 13.85

CLOSE 4.37 17.43 6.49 5.39 1.96 0.96 2.28 9.85 6.16 4.50 10.65 2.66 1.79 8.97 6.40 15.60 6.98 3.34 13.85

CHANGE 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.00 -0.05 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

CLOSE 100.00

CHANGE 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

LAST SALE 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund FG Financial Preferred Income Fund FG Financial Growth Fund FG Financial Diversified Fund FG Financial Global USD Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

VOLUME

1,000 1,000

273

VOLUME

EPS$ 0.147 0.932 -0.306 0.323 0.104 0.000 -0.523 0.700 0.480 0.154 0.627 0.102 0.209 0.000 0.481 0.762 0.578 0.277 0.631

DIV$ 0.120 1.260 0.000 0.240 0.000 0.020 0.000 0.710 0.220 0.120 0.620 0.060 0.060 0.084 0.240 0.500 0.200 0.090 0.600

P/E 29.7 18.7 N/M 16.7 N/M N/M -4.4 14.1 12.8 29.2 17.0 26.1 8.6 N/M 13.3 20.5 12.1 12.1 21.9

YIELD 2.75% 7.23% 0.00% 4.45% 0.00% 2.08% 0.00% 7.21% 3.57% 2.67% 5.82% 2.26% 3.35% 0.94% 3.75% 3.21% 2.87% 2.69% 4.33%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.00% 0.00% 0.00% 0.00% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75% 6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%

NAV 2.20 4.24 2.03 184.51 147.81 1.60 1.74 1.69 1.12 7.47 8.64 6.60 10.37 11.69 10.38 9.92 8.69 11.79

YTD% 12 MTH% 3.97% 3.97% 2.49% 2.49% 2.43% 2.43% 3.26% 3.26% -3.65% -3.65% 0.47% 4.42% -0.04% 2.71% 0.27% 3.85% 0.75% 2.58% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69% -0.71% 0.16% 3.96% 7.75% 8.34% 14.88

MATURITY 19-Oct-2022 20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022 NAV Date 31-Dec-2018 31-Dec-2018 31-Dec-2018 31-Dec-2018 31-Dec-2018 31-Jan-2019 31-Jan-2019 31-Jan-2019 31-Jan-2019 31-Dec-2018 31-Dec-2018 31-Dec-2018 31-Dec-2018 31-Dec-2018 31-Dec-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018

MARKET TERMS BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings

YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225

THE TRIBUNE

Friday, March 15, 2019, PAGE 7

Love Beach battles resort development FROM PAGE ONE

Residents argued that the properties on which the developer proposes to build are zoned for multi-family residential development only, not commercial development.

They added that restrictive covenants prohibit the construction of any building 28 feet in height above ground level.

One resident said: “I highly opposed this project. My wife and I applied to Town Planning for a particular house and were rejected. We applied for a three-storey house and got two-and-a-half.

If you reject me why would you approve them? Is it because they have more money than me?

That wouldn’t be right.”

Employees facing uphill battle over grievance redress FROM PAGE ONE The US State Department report, meanwhile, noted a case reported on by Tribune Business in which the Court of Appeal found the Employment Act was notably silent on how companies should treat workers with disabilities.

“On September 18, the Court of Appeal upheld the wrongful dismissal claim of a woman who was fired from her job as a restaurant manager at the Atlantis Paradise Island resort because she

To advertise in The Tribune, contact 502-2394

Erica Ferriera, an attorney representing another Love Beach resident, told the Town Planning Committee: “It’s in a residential community that would have to be re-zoned to accommodate this development. We have a restaurant and bar that would change the character of the neighbourhood as it stands now. Persons would have to consider noise.

“You have restaurant and there would be concerns about rodents, pollution and things like that. My client strongly objects to a restaurant and bar operating on the premises. I believe that parking woes will be created as a result; more drunk driving, disrespectful behaviour and noise pollution. We say no the proposal for a restaurant and bar and any application that may come from any re-zoning from

multi-family resident to commercial.”

Another resident argued that by going forward with what the developer proposes the very features that make Love Beach what it is would be destroyed.

And members of the Ageeb family have already written to the Department of Physical Planning in opposition of the development. A February 13, 2019, letter by Dr Gloria Ageeb to Charles Zonicle, acting director of physical planning, said: “A development of the nature proposed is not only in violation of the zoning regulations, as the subject lots are multi-family and not commercial, but will destroy the peaceful ambiance currently enjoyed by the residents and property owners of Love Beach.”

suffered a ‘serious nerve injury’ that left her unable to carry out her duties,” it said .

“The court ruled that the Atlantis resort did not make reasonable efforts to accommodate the worker in another position. The judge noted the Employment Act fails to set out how companies should accommodate workers with disabilities.”

Elsewhere, the US State Department report said The Bahamas’ minimum wage, which was increased from $4 to $5.25 per hour in 2015 was “well above the established poverty line of B$4,247 per annum”.

It added that Ministry of Labour inspections to enforce occupational health and

safety standards “occurred infrequently”, and said: “It was uncertain whether these inspections were effective in enforcing health and safety standards. The government did not levy fines for noncompliance but occasionally forced a work stoppage. Such penalties were not sufficiently stringent to deter violations.”

Further weaknesses, according to the US State Department report, exist when it comes to preventing forced labour. “The law prohibits all forms of forced or compulsory labour. The government did not always effectively enforce applicable law, due to lack of capacity.”

PAGE 8, Friday, March 15, 2019

THE TRIBUNE

LONDON Associated Press IN A stalemate over Brexit, British politicians have chosen to delay it.

After weeks of political gridlock, Parliament voted yesterday to seek to postpone the country’s departure from the European Union, a move that will likely avert a chaotic withdrawal on the scheduled exit date of March 29.

With Brexit due in 15 days and no divorce deal yet approved, the House of Commons voted 413-202 to ask the bloc to put off Britain’s exit until at least June 30. The official result was initially announced as 412202, but was later amended to 413 in the official voting list.

The vote gives Prime Minister Theresa May some breathing space, but is still humbling for a leader who has spent two years telling Britons they were leaving the bloc on March 29.

Power to approve or reject the extension lies with the EU, which has signaled that it will only allow a delay if Britain either approves a divorce deal or makes a fundamental shift in its approach to Brexit.

In a historic irony, almost three years after Britain voted to leave the EU, its future is now in the bloc’s hands.

May is likely to ask EU leaders for an extension at a March 21-22 summit of the bloc in Brussels.

The European Commission said the bloc would consider any request, “taking into account the reasons for and duration of a possible extension”.

May was forced to consider a Brexit delay after lawmakers twice rejected her EU divorce deal and also ruled out, in principle, leaving the bloc without an agreement.

Withdrawing without a deal could mean major disruptions for businesses and people in the UK and the 27 remaining countries.

By law, Britain will leave the EU on March 29, with or without a deal, unless it cancels Brexit or secures a delay.

PRIME Minister Theresa May, first row centre, laughs during the Brexit debate in the House of Commons, London, yesterday. Britain’s Parliament has voted to seek a delay of the country’s departure from the European Union, a move that will likely avert a chaotic withdrawal on the scheduled exit date of March 29.

Brextension: UK lawmakers vote to seek delay of EU departure Yesterday could have been worse for May. Lawmakers rejected an attempt to strip her of control over the Brexit agenda. They defeated by the narrowest of margins — 314-312 — an opposition attempt let Parliament choose an alternative to May’s rejected divorce deal and force the government to negotiate it with the EU. Lawmakers also voted against holding a second Brexit referendum — at least for now.

By a decisive 334-85 vote, they defeated a motion that called for another vote by the public on whether to stay in the EU or leave.

Campaigners for a new referendum are divided over whether the time is right to push for a second Brexit vote. The vote doesn’t prevent lawmakers from trying

again later to get Parliament’s support for another referendum.

Despite the rebuffs and the political chaos that have weakened her authority, May has signaled she will try a third time to get backing for her agreement next week. She is seeking to win over Brexit-backing opponents in her own party and its Northern Irish political ally, the Democratic Unionist Party, who fear the deal keeps Britain too closely tied to the EU. Alan Wager, a researcher at the UK in a Changing Europe think tank, said May faced a struggle to overturn a 149-vote margin of defeat in Parliament this week.

“It’s still really difficult to see how the numbers stack up for Theresa May, but she’s giving it one

more go,” he said.

If May’s deal is approved, she hopes to use a delay until June 30 to enact legislation needed for Britain’s departure. She has warned Brexit supporters who oppose her deal that if no withdrawal agreement is passed in the coming days, the only option will be to seek a long extension that could mean Brexit never happens.

Any delay in the Brexit process would require the unanimous approval of all 27 remaining EU member states — and leaders in the bloc are exasperated at the events in London. They have said they will approve an extension if there is a specific reason, but don’t want to provide more time for political bickering in Britain.

“Under no circumstances

an extension in the dark!” tweeted the European Parliament’s Brexit coordinator, Guy Verhofstadt.

“Unless there is a clear majority in the House of Commons for something precise, there is no reason at all for the European Council to agree on a prolongation.”

Belgian Prime Minister Charles Michel said the EU needed “more decisions” from London.

The EU is also reluctant to postpone Brexit beyond the late May elections for the European Parliament, because that would mean Britain taking part even as it prepares to leave.

The bloc is more open to a long delay to allow Britain to radically change course — an idea favored by pro-EU British lawmakers who want to maintain

close ties with the EU. European Council President Donald Tusk tweeted that he will appeal to EU leaders “to be open to a long extension if the UK finds it necessary to rethink its Brexit strategy and build consensus about it”.

In another sting for May, US President Donald Trump said he was “surprised at how badly” the Brexit negotiations have been handled.

Trump, who sees himself as a dealmaker, said he gave May advice but she didn’t listen to him.

Speaking alongside Irish Prime Minister Leo Varadkar at the White House, Trump said Britain’s debate over leaving the EU was “tearing the country apart”.

British businesses expressed relief at the prospect of a delay.

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