business@tribunemedia.net
TUESDAY, AUGUST 8, 2017
$4.00
$4.17
NHI payments will stay on hold By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net HEALTH Minister Dr Duane Sands warned yesterday that no payments under the National Health Insurance (NHI) scheme will be made until a proper governance structure is in place. And Dr Sands told The Tribune at the same time as this structure is being established a legal opinion would be sought on the validity of all contracts entered into by NHI. Dr Sands noted the new NHI Authority’s Board only met for the first time last week. “Now that the Board is in place one of the first things it has to do is to appoint a managing director, a legal
adviser, financial controller and so forth,” he said. “It is only when those things are properly in place that any contractual obligations can be reviewed and funds disbursed.” The Bahamas Insurance Association (BIA) pointed out last month that key aspects of the NHI Act had not been ‘gazetted’ and brought into law by the time the scheme was launched. Among the sections omitted were those giving authority to enroll persons in NHI; the criteria setting out who was eligible to enroll and the framework detailing the functions of health care providers and insurers. Dr Sands added: “The establishment of a proper governance structure and the appointment of the NHI staff proper is required in order to facilitate See PG B2
MINISTER OF HEALTH DR DUANE SANDS
$4.18
$4.06
AVIATION NEEDS A PLAN WHICH WILL FLY By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net
go and get them. We need to involve the domestic carriers in the development of this sector.” Mr Butler argued the A SENIOR Bahamian government must create airline executive said yes- an environment which terday he was not prepared would allow domestic carto simply ‘curse the dark- riers to remain profitable. ness’ over the issues facing “What is challenging to us this nation’s aviation sector, is we continue to have an demanding, “Let’s quit airline like Bahamasair talking and make things that we are going to give happen”. $40 million to and they Captain Randy are competing against the Butler, Sky Bahamas chief other domestic airlines,” he executive told Tribune added. Business he was eager to “We are competsee what plans the Minnis ing against our own administration has for the tax dollars. We have to aviation sector, noting that address Bahamasair. We addressing Bahamasair can’t continue to subsi“must be a top priority”. dise it the way we have. “I am open to support- ‘We can’t depend on the ing this administration foreign carriers to bring in building this industry. people here. Let’s go and I’m not at the giving up build those routes we need stage at all. I just want and get the people here us all to look at the reali- and get the demand going. ties that we are faced with When the legacy carriers and come up with a plan.” see that then they will jump “We have the airspace on board. I would rather agreement, we have tourists see us spending money on who want to come here, let’s that.”
Bahamas can regain BCCEC gearing up for ‘packed’ fall schedule shipping registry prominence Bimini bank crisis A MARITIME attorney with a leading law firm says The Bahamas is only steps away from regaining its position as one of the world’s most respected and sought after shipping registries. Syneisha Bootle, maritime specialist with Callenders & Co., the country’s oldest law firm with a century-old history with shipping, said to achieve this goal the Bahamas must update maritime legislation including a half century old insurance act and enact new legislation with strict enforcement provisions. “We have the talent, we have the resources to put The Bahamas back on the map in maritime law,” said Bootle, who holds an advanced degree in maritime law. “However, we must enact legislation enabling us to act on the many conventions and treaties we have signed. Without enforcement legislation, the signatures on the treaties are merely well-intentioned promises.” In the 1990s, The Bahamas enjoyed the position of being the fastest growing ship registry in the world and at one time was the third largest, boasting of high standards that would distinguish it from being a flag of convenience.
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net
SYNEISHA BOOTLE Bootle is worried the country has fallen to seventh place in an era when opportunities are greater than they have ever been. “It is gratifying to know that companies like Chevron, Exxon International, Maersk Line, Cunard Lines, Texaco, Holland-America Cruises, Finnlines, Teekay Shipping, Lauritzen Reefers, Smit International, the East Asiatic Company and MSC are listed on the official Bahamas Maritime Authority register and have chosen to fly the Bahamian flag. However, with the record number of new cruise ships under commission and the growth being experienced by the shipping industry as a whole, we must ask ourselves why we are sliding instead of See PG B2
THE Bahamas Chamber of Commerce and Employers’ Confederation is gearing up for a ‘packed’ fall schedule of trade missions. “It’s going to be petty busy time,” said chamber chief executive Edison Sumner. “We are looking to do a trade mission into the Washington DC area which would include Baltimore, Virginia and other states in that immediate vicinity. We are also working on a trade trip to South Africa for the Fall as well.” said chamber chief executive Edison Sumner. “There is also still on our agenda a trade mission
into Haiti which we expect to take place neat the end of summer as well. There are at least missions three on our agenda between September and November and we are working to finalize the details within the next week or two. It’s quite a busy agenda. I’m not sure we can fulfil them all because everything is coming in around the same time so we may have to decide on the ones we can deal with this fall and what may have to be pushed back but we have at least three of them actively on our agenda.” The Chamber has led numerous trade missions to promote Bahamian firms to international markets and foster reciprocal trade arrangements.
crippling trade By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net BANK of The Bahamas (BOB) is set to return to the island of Bimini later this month as but residents still fear the absence of a bank on the island would encourage crime and negatively impact commerce. One local businessman told Tribune Business after Royal Bank of Canada’s pull-out on August 2 left the island with no banking institution the
island needed a bank ‘like yesterday”,. Bank of The Bahamas, which is majority owned by the Government, confirmed in an advertisement last week that it would be opening a branch in Alice Town Bimini on August 21 but this hasn’t satisfied residents and traders. Lorrick Roberts, owner of Dolphin Cart Rentals, told Tribune Business: “RBC closed the doors, moved all the ATMs and that’s it, we don’t have a bank. As a businessman it’s scary. See PG B3