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Volume: 119 No.103, April 21, 2022
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INFLATION COULD HIT BPL BILLS
MINISTER of Works and Utilities Alfred Sears
By EARYEL BOWLEG Tribune Staff Reporter ebowleg@tribunemedia.net
AMID concerns of soaring inflation and rising fuel prices, Works and Utilities Minister Alfred Sears said “there is always the possibility” of an increase in Bahamas Power and Light bills due to external factors. However, Mr Sears said the Davis administration intends to maintain BPL’s fuel hedge strategy, which he said seeks to “minimise” the unpredictable international market. Asked if he would be able to say if it’s possible that consumers can expect an increase in their BPL bills considering inflation and rising fuel prices, Mr Sears told reporters yesterday: “I think there’s always the possibility.” SEE PAGE THREE
Photo: Donavan McIntosh/ Tribune Staff
...AS PM SAYS GOVT WILL DO ALL IT CAN TO MINIMISE IMPACT By KHRISNA RUSSELL Tribune Chief Reporter krussell@tribunemedia.net PRIME Minister Philip “Brave” Davis said yesterday his administration will do what it can to ensure the impact of a projected 7.3 percent rise in consumer prices is minimised for Bahamians.
Mr Davis was asked yesterday by The Tribune how his administration intended to tackle the expected increase in prices as foreshadowed by the International Monetary Fund in its World Economic Outlook. The IMF said this was due to the ongoing conflict between Ukraine and Russia. “Well we are looking at measures and initiatives now to do
that,” the prime minister said when asked how the government planned to combat the IMF’s prediction. “We are talking now with shipping companies to lower the cost of freight coming in and to try and get discounts on containers. “We have already successfully (done) that with one company and we are now talking about
how we could assist through the logistical supply chain to reduce costs in those areas.” Asked whether he was surprised by the IMF’s prediction, Mr Davis said: “We’re not surprised because a lot of the factors that inform the inflationary numbers we can’t control, we have no control of it. SEE PAGE THREE
MINNIS: GOVT IS FAILING ON CRIME By RASHAD ROLLE Tribune Senior Reporter rrolle@tribunemedia.net FORMER Prime Minister Dr Hubert Minnis said crime in New Providence escalated as his successor travelled “all over the place with large delegations on very expensive trips in the early months of his term.” His comments in the House of Assembly yesterday came as parliamentarians debated The Evidence (Amendment Bill), the Magistrates (Amendment) Bill, the Juries (Amendment) Bill and the Criminal Procedure Code (Amendment) Bill. SEE PAGE SEVEN
CARBON BILL ‘FIRST STEP’ IN BRINGING PAYMENTS
By KHRISNA RUSSELL Tribune Chief Reporter krussell@tribunemedia.net
PRIME Minister Philip “Brave” Davis said yesterday that the Climate Change and Carbon Market Initiatives Bill 2022 is his administration’s first step in securing carbon credit payments for The Bahamas. Mr Davis said the country has 28 years to optimally benefit from the carbon market initiatives in the vibrant carbon credit marketplace that currently exists. He said the sale of carbon credits could aid in further protecting the country’s seagrasses, mangroves, forests and coral reefs. SEE PAGE FIVE
CRYPTO ‘CHANCE TO MAKE UP LOST GROUND’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE Bahamas has “an incredible opportunity to reclaim lost ground and be part of finance’s new frontier”, digital asset specialists argued yesterday, as they hailed the Government’s release of its “vision” for the $3trn industry. Andrew Rolle, the Bahamas Investments and Securities Business Association president, told
PRIME Minister Philip “Brave” Davis yesterday. Tribune Business that the policy position unveiled by the Prime Minister in Parliament “is another step
in The Bahamas positioning itself as a world digital assets leader”. The white paper, entitled The Future of Digital Assets in The Bahamas, seeks to balance signalling to crypto, blockchain and non-fungible token (NFT) providers that this nation is open for business with the necessary risk-based regulatory approach to protect the country’s reputation and the interests of investors/consumers. FULL STORY - SEE BUSINESS
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FRONT PORCH: THE HUBRIS AND DELUSIONS OF AUTOCRATS
- SEE PAGE EIGHT