(Barbados Today) Prime Minister Freundel Stuart seems to have brushed aside a recommendation by the recently established Fiscal Deficit Committee to sell the Barbados National Oil Company Limited (BNOCL) and the National Petroleum Corporation (NPC).
Instead, Government will proceed with the planned merger of the two state-owned entities (SOEs).
Opening debate on the National Petroleum Corporation Amendment Bill in the House of Assembly Friday morning, the Prime Minister made no mention of the recommendation contained in the 30-page report submitted by the tripartite committee.
However, he reminded Parliament that a decision had already been taken by his administration “to effect efficiencies and economies by amalgamating” the two entities.
It was back in March 2014 that the merger was first announced by BNOCL General Manager Winton Gibbs to employees during an emergency staff meeting at the Woodbourne, St Philip office, called to clarify media reports and soothe tensions over the future of the parent company.