NASSAU, BAHAMAS — Opposition leader Michael Pintard cautioned yesterday that the Davis administration seems to be treading down a familiar path reminiscent of the drawn-out St. George and Hayward family dispute over the Grand Bahama Port Authority (GBPA) ownership, which, he claimed, damaged the Freeport economy.
Pintard also accused the Davis administration of pursuing political gains under the guise of nationalism.
While commenting on the government’s stand-off with the Grand Bahama Port Authority (GBPA) Pintard said: “One of the challenges we are having right now is not a new challenge. We have a challenge when you have a sitting government engaged in a public row with a municipal government in the Grand Bahama Port Authority.
“We have said that this is a bad decision by the government, that they are creating uncertainty not just in Freeport but they are creating uncertainty among present and potential investors who are not certain it makes sense to pump money into an environment where the government appears to have the capacity that it could wrestle away assets or make any number of threats they could have certainly had a private conversation about.”
Pintard continued: “We believe that the present status quo in Freeport cannot remain. We would like to see an expanded shareholder base with far more Bahamians being shareholders in GBPA. There has to be greater involvement with license-making decisions relative to the functioning of GBPA, including how service charges are apportioned.
“We do not believe the central government should be in charge of the regulatory function in Freeport so they can politicize it in the way they are seeking to do it in the rest of the country. Nor do we believe they should be in charge of the infrastructural maintenance and upgrades. We believe the government is attempting to score political points to give the impression they are more nationalistic than us, that they love the people of Grand Bahama more than us, and that they love Bahamians and Grand Bahama more than us. We ride out storms with our people. We help them in the aftermath of catastrophes that hit them, we want investors with deep pockets, clear vision, and willingness to create a shareholding society.”
Pintard noted that for many years, the St George and Hayward families had been locked in a protracted battle, which damaged Grand Bahama’s economy. For about four years, the families engaged in a feud regarding ownership claims. GBPA Honorary Chairman Sir Jack Hayward maintained that he owned 75 percent of the company, while the Estate of Edward St. George adamantly asserted their ownership at 50 percent.
“The government is following the identical formula, the only difference is the government is sending a wider message than the fight between the two families because now other investors on other islands may presume this is how the Bahamian government functions and we do not want that to be the impression.”
National Security Minister and Leader of Government Business in the House of Assembly Wayne Munroe defended the Davis administration Wayne Munroe said: “Government only abiding by the rule of law. Every investor on every island should know that they are subject to the laws of the Commonwealth of the Bahamas.”
Prime Minister Philip Davis recently asserted that the Grand Bahama Port Authority (GBPA) has not been living up to its legal obligations to develop and grow the economy in Freeport, adding that the government has a “very strong case” to demand $357 million – which covers the last five fiscal years. The Grand Bahama Port Authority has warned against the government’s efforts to “force” a sale of the Port Group, expressing concerns over the significant damage it could inflict on the Freeport economy, while strongly refuting the claim that it owes $357 million as asserted by the government.
