NASSAU, BAHAMAS — As the country grapples with high inflation, Prime Minister Philip Davis revealed yesterday that he has been able to “work out an arrangement” with a shipping agency for a discount of up to 38 percent on containers coming into the country – particularly from the far east.
The Prime Minister made the revelation during his office’s weekly press briefing yesterday.
“I have engaged with several of our shipping agencies and I have been able to work out an arrangement with one of them that has already agreed and outlined the effect of the reduction in the cost of containers coming into the country,” he said.
“I don’t want to identify them because we don’t want a challenge as to what they are charging,” said Davis.
He added: “We have negotiated up to a 38 percent discount on containers coming into The Bahamas particularly from the far east and we are waiting to hear what that discount will be from Florida. Those are the efforts we have engaged in to eliminate the inflationary impact on the vulnerable amongst us.”
The price of food, oil and essential products have continued to rise globally and have been exacerbated by Russia’s invasion of Ukraine.
Davis also clarified the government’s position on oil drilling, adding that there has to be a distinction made between drilling and extraction.
“There is a mechanism to know if you have oil and monetize it while it is in the ground,” he said.
“At the moment we are exploring monetizing our blue carbon and we believe that will be sufficiently monetized for us not to even look at oil drilling. At the movement it is not on our radar and our contemplation.”
The Our Islands, Our Future Coalition earlier this week renewed calls for a permanent nationwide ban on oil drilling in The Bahamas, following the most recent United Nations Intergovernmental Panel on Climate Change (IPCC) report.
The report, published on April 4 2022, called for major transitions in the energy sector – a substantial reduction in fossil fuels use, improved energy efficiency, and use of alternative fuels in order to limit global warming. The Our Islands Our Future said in a statement that it is convinced that any offshore drilling approvals will no doubt compromise the future well-being of The Bahamas.
Loading ...
