Friday, November 15, 2019

‘Pay higher BPL bills or expect higher taxes’

Peter Turnquest

If Bahamas Power and Light (BPL) does not increase light bills, the government would have to raise taxes to deal with the power company’s debt, Acting Prime Minister Peter Turnquest said yesterday.

“Unfortunately, the cost of that fix is significant and in order to meet that, BPL, as a stand-alone corporation, has to raise the money,” Turnquest said.

“Otherwise, the taxpayers, the shareholders of the corporation, will have to inject the capital as equity. If we inject the capital as equity, it means that our tax bill will go up because we have to recoup that money.  Read more >>