NASSAU, BAHAMAS — Prime Minister Philip Davis said a major investigation into the affairs of Bahamas Power & Light is still on the table pending the results of initial inquiries into the company.
Davis promised televised hearings into BPL in 2018, saying there was no transparency or accountability at the company.
At the time, BPL had missed a self-imposed deadline to place the rate reduction bond in the market. BPL had hoped to raise more than half a billion by the end of February 2021. As discussions about the bond continued, Davis questioned whether the structure of the bond would benefit investors at the expense of Bahamians.
Asked yesterday about the promised investigation, Davis told reporters: “There are a number of things that are on the table and we are looking into those matters now and the question is how far do we want to take it.
“As you know we have been inquiring into a number of issues that we thought needed some oversight and inquiry and those are continuing and we will be making a decision. We are considering some inquiries,” he continued.
“You would have heard me say on a number of occasions where we are unable through the inquiry, what I call the anterior inquiry, where we are unable to get information there are ways and means of advancing that inquiry to another level to ensure that persons are compelled to respond and to provide the information that is necessary, (to) come to a conclusion as to what has happened.
“What I am concerned about is not just what has happened, but I want to have recommendations from these inquires as to how best we can shore up our democracy, to ensure transparency and accountability and that we understand that the pitfalls made by persons in governments before we would not fall in those pitfalls. “
It is not clear what BPL matters the Davis administration is investigating or wants to be investigated.
In 2018, Davis said because of the rate reduction bond, which has never been placed, “something smells fishy at BPL.”
“Unless the government comes clean, when we come into the office we will order a full-scale inquiry, and send for papers and persons both nationally and internationally, and conduct the proceedings live on national television so that the Bahamian people can see for themselves any mismanagement and any corruption,” he said.
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