04172023 BUSINESS

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‘Someone did some thinking’: Petroleum competition push

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

PETROLEUM retailers and wholesalers are studying “significant new ideas” proposed by the Government to foster greater competition - “but not at the expense of consumers” - in a bid to resolve the industry’s structural woes.

Sir Franklyn Wilson, chairman of BISX-listed FOCOL Holdings, which operates the Shell brand, told Tribune Business that “someone did some thinking” after the Davis administration unveiled its proposal to both the oil majors and gas station operators during a Friday morning meeting.

With all parties due to give their responses by this Wednesday, he described the contents as “a new day” for the Bahamian petroleum industry’s business model amid the near-constant calls from retailers for an increase in long-standing fixed margins so that they can return to profitability and absorb a multitude of ever-increasing costs.

• Gov’t proposal to break margin deadlock

• But solution ‘not at expense of consumer’

• Sir Franklyn: ‘I saw no one throw stones’

Bad loans ‘too high’ - yet at 14-year low

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

Sir Franklyn, revealing that the Government’s proposal seeks to increase competition at all levels of the Bahamian petroleum industry - between retailers as well as wholesalers - even indicated it may involve moving away from the fixed margins on every gallon of gas and diesel sold, which station operators have long argued is the root cause of their plight.

However, Simon Wilson, the Ministry of Finance’s financial secretary, told Tribune Business yesterday that the proposal does not call for the elimination of the industry’s price-controlled fixed margins as the Government seeks to balance the interests of wholesalers, retailers and Bahamian consumers.

Describing the situation as “very delicate”, he acknowledged that some gas station operators as well as the entire industry’s business model are “under a lot of pressure” and described the proposal unveiled on Friday as “a first step”. If agreement and buy-in is obtained from both wholesalers and retailers, Mr Wilson

City’s ‘turned the tide’ without Central Bank

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE DOWNTOWN Nassau Partnership’s (DNP) co-chair says the city has “turned the tide” on its revival despite the Central Bank’s decision to terminate development of its new headquarters at Royal Victoria Gardens.

Charles Klonaris told Tribune Business that while the multi-million dollar project would have provided a confidence boost for downtown Nassau’s prospects, and enhanced the area’s overall appearance, there was sufficient “momentum” behind Bay Street and the city to prevent any

“disruption” to their continued progress.

With the Nassau Cruise Port’s $322.5m overhaul already attracting a record 28,000-plus passengers in a single day, he added that this presents “for the first time in a very long time” significant economic opportunity for Bay Street merchants, restaurants, tour and excursion operators, straw vendors, taxi drivers and all other sectors reliant on the cruise industry.

And, while acknowledging that downtown Nassau had generally been locked in a 20-year “downward spiral” prior to COVID-19, Mr Klonaris told this newspaper that fresh investment

SEE PAGE B7

GB water rise conflict ‘most fantastic thing’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A GRAND Bahama resort operator yesterday said its owners will have to “pay more for the privilege of running a hotel” on the island if proposed water rate increases are ultimately approved.

Magnus Alnebeck, the Pelican Bay Resort’s general manager, told Tribune Business it is “the most fantastic thing” that the island’s water “monopoly” is owned by the same people responsible for regulating it and approving the proposed rate increases.

Pointing out that approval of Grand Bahama Utility Company’s proposal will merely increase his resort’s losses, he added that he opposes the rate increase while “absolutely” agreeing that the Utilities Regulation and Competition Authority (URCA) should take over regulation of all utilities within the Port area.

The Grand Bahama Port Authority (GBPA), which is responsible for regulating GB Utility and approving a rate increase proposal that could take effect as early as May 1, has already pledged

SEE PAGE B6

The Central Bank’s governor says loan delinquencies are still “too elevated” compared to global standards even though - at 7 percent of total outstanding credit - they have fallen below pre-COVID levels and are at their lowest in 14 years.

John Rolle, in written replies to Tribune Business questions, said slow economic growth and relatively high non-performing loan rates have deterred Bahamian commercial banks and other formal lenders from extending credit to businesses and home buyers during the past decade in a trend that pre-dated the pandemic.

While total loan delinquencies, representing credit 90 days or more past due, stood just below $400m at $397m at endFebruary 2023, he added that it was economic growth that drives commercial bank lending rather than the other way around.

“In the domestic sector, the Central Bank is concentrated on making the

environment more favourable to private sector lending as the basis for more positive medium-term outcomes,” Mr Rolle told this newspaper. “Growth prospects in the domestic banking sector are tied to the overall performance of the economy, more so than the economy being driven along by bank lending.

“This is because lending is more sustainable in the Bahamian domestic setting when the economy has the corresponding foreign exchange inflows to absorb the spending on imports that credit stimulates. Hence, slow economic growth on average over the last decade, coupled

SIR FRANKLYN WILSON SIMON WILSON

JOHN ROLLE

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interchangeably. Business leaders must understand the differences between these two concepts, and how they impact their

operations, as they increasingly rely on data for decision-making. The next three articles, including this one, will provide the

necessary clarification and insights on data privacy and protection tools over the following month.

A person’s right to privacy refers to their ability to control how their personal information is collected, used and disclosed. In other words, it is the right of individuals to know what data is being collected on them; how it is being used; and who it is being shared with. Therefore, providing individuals with privacy rights and protecting their personal information is crucial to data privacy laws. Data protection, meanwhile, refers to a company’s measures to protect its data. Protecting data means preventing it from being lost, stolen or accessed by unauthorised parties. A combination of technical standards, such as encryption and firewalls, and company policies and procedures are required to protect sensitive information.

While the two concepts are related, they are not interchangeable. As noted by privacy expert Michelle Dennedy: “The difference between privacy and security is not always easy to see. Security protects the perimeter - it says who is in and who is out - while privacy is the content within.”

Companies that are serious about protecting their own, and their customers’, interests should develop a comprehensive data privacy and protection programme that addresses both privacy and security concerns. Such a programme should

include policies and procedures for collecting, storing and processing data, and measures for securing data and ensuring compliance with applicable laws and regulations.

There is one area where the difference between data privacy and data protection becomes particularly apparent: In the case of a data breach. As a consequence of a breach, companies may be held liable for both data privacy violations (such as failing to inform individuals whose data has been compromised) and data protection failures (such as failing to implement adequate technical safeguards).

As noted by privacy expert, and chief executive of the International Association of Privacy Professionals, Trevor Hughes: “If you look at the most damaging data breaches that have happened over the last decade, most of them could have been prevented by good security practices.” As a result, strong data privacy and data protection programmes are essential.

In conclusion, data privacy and data protection are related concepts. They are not interchangeable. Data privacy is concerned with protecting the privacy rights of individuals, while data protection is concerned with securing data from loss or unauthorised access. Companies that are serious about safeguarding their own, and their customers’, interests should develop comprehensive programmes addressing

Bahamas cloud provider in magazine’s top ten

A BAHAMAS-BASED cloud solutions provider has been named as one of the ten best-managed IT Service Providers of 2023 by Aspioneer magazine. The list recognises companies that have demonstrated excellence in delivering IT services and solutions to clients. Stelios Xeroudakis, Cloud Carib’s founder and chief technology officer, said of the recognition: “We are thrilled to be named one of the 10 Best MSPs by Aspioneer magazine. This is a testament to the hard work and dedication of our team, who work tirelessly to

privacy and security concerns. As data continues to play an increasingly important role in business, understanding these distinctions is more critical than ever.

• NB: About Derek Smith Jr Derek Smith Jr. has been a governance, risk and compliance professional for more than 20 years. He has held positions at a TerraLex member law firm, a Wolfsburg Group member bank and a ‘big four’ accounting firm. Mr Smith is a certified anti-money laundering specialist (CAMS), and the assistant vice-president, compliance and money laundering reporting officer (MLRO) for CG Atlantic’s family of companies (member of Coralisle Group) for The Bahamas and Turks & Caicos.

ensure our clients receive the best possible service and support.”

Cloud Carib is a provider of cloud and data centre services in the Caribbean region. With a focus on cyber security, sovereign cloud and compliance, it has built a portfolio of corporate clients seeking to elevate their security networks. The company has already been ranked 12 in the world, out of 501 managed services providers, by Channel Futures.

Daniel Walker, business development manager at Aspioneer Magazine, said:

“We are delighted to have Cloud Carib on our list this year. They have consistently demonstrated their ability to deliver outstanding IT services and solutions to their clients within the Caribbean, and their commitment to excellence is truly impressive.”

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Data privacy and data protection have distinct meanings and implications, but they are often used

TRIBUNAL RULE CHANGE

THE Court of Appeal’s president is urging that the Industrial Tribunal’s rules be reformed such that all parties have “greater flexibility” to amend their original pleadings within the limits set by the ‘trade dispute’ originally referred to it.

Sir Michael Barnett made the call in a unanimous verdict where the Court of Appeal reinstated a claim by Marisa D. Mason-Smith, now the University of the Bahamas (UoB) ombudsman but then an assistant general manager for human resources and training at Bahamas Power & Light (BPL), against her former employer over alleged pension benefits she claims she is entitled to.

The Industrial Tribunal dismissed her action on the basis that it had no jurisdiction to hear the dispute, as

the issues and causes raised in Ms Mason-Smith’s originating application claim did not include the grounds on which the case was referred to it by the minister responsible for labour as a trade dispute.

However, in overturning the Industrial Tribunal verdict and sending the matter back for a new hearing on “what, if any” pension benefits she is entitled to, Sir Michael suggested that its rules be amended to address the problems that were raised.

“We observe that many of these issues may be resolved by amending the Industrial Tribunal Rules to permit both an applicant and a respondent to amend his originating application and/or defence save that any amendment ought not exceed the parameters of the ‘trade dispute’ which was originally reported to the minister under the Industrial Relations Act,” Sir Michael suggested.

SIR MICHAEL BARNETT MARISA MASON-SMITH

“The proposed amendment which we envisage would allow for greater flexibility and enable the parties to amend their pleadings... provided that the referred dispute to be adjudicated by the Tribunal is clearly shown on the amendment to be ‘connected with the employment or nonemployment or the terms or conditions of employment of any person’. This would enable a general dispute about termination to

Downtown businesses ask for real story on bank plan

By FAY SIMMONS jsimmons@tribunemedia.net

DOWNTOWN Nassau

business owners and stakeholders are questioning “what’s the real story” behind the Central Bank’s decision to abandon plans for the construction of its new headquarters at Royal Victoria Gardens.

John Rolle, the Central Bank’s governor, did not respond before press time to questions seeking the reasons for why a project that was first conceived some five-to-six years ago has suddenly been dropped.

While downtown Nassau stakeholders voiced disappointment with the decision, they were optimistic about potential alternative uses for a property that the Central Bank is now in the process of handing back to the Government.

Ms Smith, a restaurant manager, said the outcome was disappointing given the fanfare that surrounded the Urban Planning and Architectural Design Competition, held in 2018, to design a new Central Bank building. Architecton Design Studio Bahamas won the competition, received a $50,000 prize and was subsequently contracted to provide

architectural services for the project. She said: “After all of the fuss about the architecture competition, I’m surprised they just gave it up. I wonder what’s the real story, you know? This project and all that was supposed to be part of a plan to revitalise downtown, so I hope they keep going because downtown needs to be cleaned up.”

Ms Smith suggested that the Government use the site to construct a tourist attraction such as a museum, and said: “Hopefully they will make good use out of it, maybe put up a museum or something to draw the tourists in. It’s an historical site, so it would be a shame for it to just stay in such a state”

Another downtown business owner, who wished to remain anonymous, questioned if the site’s proximity to the new US embassy played a role in the decision to cancel the new Central Bank headquarters building. He said: “I wonder if it has something to do with the closeness of the new embassy by the old Post Office? Maybe that’s why they can’t move there any more.”

The business owner suggested that the Royal Victoria Gardens site can

be used for a new Supreme Court complex or international arbitration centre. However, the former Post Office building immediately south of Royal Victoria Gardens was demolished to make way for the very same Supreme Court complex.

“Maybe they can use this as the new [site for] the Supreme Court. It’s in disrepair, and the judges and lawyers been calling for something to be done. Or they can use it for an arbitration centre. Whatever they do I hope Bahamians will benefit,” they said.

The Government passed the new International Commercial Arbitration Bill, and reforms to the existing Arbitration Act 2009, in March as part of ambitions for The Bahamas to establish itself as an international arbitration centre.

Adrian White, the St Anne’s MP, questioned the timing of the announcement and why Parliament and Cabinet officials were not made aware of the changes before the Central Bank’s announcement. “The drastic 180-degree decision not to proceed sounds like interference occurred,” he argued.

“Before there was any indication of this happening, the Government already

be refined at a later date to encompass both a wrongful and/or unfair dismissal claim.”

Sir Michael, in his written ruling, said: “In our judgment it is clear that Parliament intended the Tribunal to focus on the merits of the disputes and not be constrained by formality and niceties of pleading as may be found in matters in the Supreme Court.

had the title. We hear multiple communications in Parliament from Cabinet ministers in the House of Assembly, but I don’t recall any communication forewarning of this outcome.”

Mr White also questioned why the Central Bank governor made the announcement instead of Prime Minister Philip Davis or deputy prime minster, Chester Cooper. He said: “The people are in the dark over the cause. The good governor of the Central Bank, John Rolle, has again had to give the facts of an interaction involving this current Davis/Cooper administration as diplomatically as possible.

“The people, however, deserve a communication from the Office of the Prime Minister, or a minister, on what their motivating intentions are for the land that took precedence over the approved construction of the Central Bank’s new, modern head office building. “

Mr White questioned if the new US Embassy’s proximity played a role in the decision to cancel the Central Bank’s construction plans. He added: “The public won’t accept it if this has to do with another foreign nation’s interest to

“The Tribunal is to ‘avoid formality’ and is not bound by rules relating to the admissibility of evidence. Indeed, the Tribunal is not even obliged to determine the dispute but may ‘remit a dispute... to the parties for further consideration by them with a view to settling or reducing the several issues in dispute’.

“The Tribunal is a different kind of forum for determining disputes in employment matters,” Sir Michael continued. “In my judgment the vice-president erred in determining that the Tribunal had no jurisdiction by focusing simply on the language of the originating application. In construing what was the dispute the Tribunal is required to determine, the Tribunal cannot simply look at the originating application.

“The Tribunal, in our judgment, must look at the trade dispute which was reported to the minister,.

move on to land adjacent to the new US embassy site.”

The new Central Bank was designed to be an “iconic structure” and a “one-of-a-kind building” that was to play a central role in the overall revival of downtown Nassau.

“The Central Bank of The Bahamas wishes to advise the public that it has terminated its project to construct a new headquarters building on the Royal Victoria Gardens site in downtown Nassau,” the Central Bank said on Thursday night. “Accordingly, the Central Bank has started the process to transfer ownership of the property back to the Government so that

It is that dispute which is referred by the minister to the Tribunal. In our judgment it is that dispute which gives the Tribunal jurisdiction, not simply the originating application. The originating application must be construed against the background of the trade dispute reported to the minister and which dispute was referred by the minister to the Tribunal.

“This is not to suggest that an applicant in the Tribunal is not bound by his ‘pleading’ in the originating application. The applicant is bound and cannot pursue a claim that is not contained in his originating application. But, where there is some ambiguity as to the claim being made, the Tribunal is entitled and - in my judgment, ought to look at the trade dispute reported pursuant to section 68 - to clarify any ambiguity. It is that dispute which was referred to the Tribunal by the minister.”

alternative use can be made of the site.

“In 2017, the Government agreed to transfer the Royal Victoria Gardens to the Central Bank for development of its new headquarters building. The transfer was approved by Parliament in 2019 and executed in 2022. In 2018, the Central Bank hosted a competition and selected a conceptual building design from Architecton Design Studios. The firm was subsequently contracted to provide the architectural services for the project.

“The Central Bank will explore alternative arrangements to meet its long-term accommodations needs.”

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Notice

PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED

The Nominations Committee, of the Public Workers’ Co-operative Credit Union Limited, in accordance with Sections 46, 47, 48, 73 and 79 of The Bahamas Co-operative Credit Unions Act, 2015, wishes to announce that applications are now invited from members in good standing who may wish to be considered to run as candidates for the below-listed posts, to become vacant at the next Annual General Meeting (AGM), to be held on FRIDAY, MAY 26th, 2023:

• Board of Directors (2)

• Supervisory Committee (1)

• Credit Committee (1)

No member may be elected to the Board of Directors, Supervisory or Credit Committees unless he or she has satisfied the Guidelines for Assessing the Fitness and Propriety of Applicants for Regulated Functions, regarding Fit and Proper Requirements, as outlined by our Regulator, the Central Bank of the Bahamas.

Further, please note that all interested members must meet the following criteria:

- Is 18 years of age or older (Section 50(a) of The Bahamas Co-operative Credit Unions’ Act, 2015).

- Is not disqualified from serving in accordance with Section 50 of The Bahamas Co-operative Credit Unions’ Act, 2015.

- Has qualifications or experience in matters relating to accounts, finance, business administration, commerce, or law; (Section 48(4)(a) (i) of The Bahamas Co-operative Credit Unions’ Act, 2015).

Interested members can obtain a Nomination Form from the Credit Union’s offices, Wulff Road (Nassau), or Oak Street (Freeport); or by email to sthompson@pwccu.org.

All members interested in serving on any of these three (3) Committees should submit: the completed/signed Nomination Form and a cover letter and resume outlining their qualifications and experience by 4:00 p.m., on Monday May 8th, 2023, to any of our offices, or via the email, listed above.

No nominations will be allowed from the floor

Finally, all Member-sponsored RESOLUTIONS, for the consideration of the AGM, must be submitted by 4:00 p.m., on Monday May 8th, 2023, at any of our offices, or via the email address, listed above.

The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story.

BRIDGING GAP TO NEW ANDROS INFRASTRUCTURE

ANDROS residents have viewed the new designs to replace the 50 year-old bridges in Fresh Creek and Stafford Creek whose condition continues to cause concern.

“The reason why we’re here is not to engage in an academic exercise, but the people of Andros should inform this process. You live here, you own the creeks, you fish on the creeks, and you’re the ones who will have to protect the creeks,” said Alfred Sears, minister of works and utilities said, adding that the work must be done to improve infrastructure resilience and protect life, safety and property.

“In fact, Andros will be the symbol of what a small island nation state can do in terms of resilience, sustainability, and the infrastructure that we will present to you this afternoon reflects those concepts. We are asking for your wisdom to guide the designers with your contributions, recommendations and observations.”

Mr Sears spoke out a Town Hall meeting in Andros as he led a delegation to the island last Thursday to present options for the bridges. Among the delegation was Bacchus Rolle, parliamentary secretary in the Ministry of Works; Leon Lundy, parliamentary secretary in the Prime Minister’s Office and MP for Mangrove Cay and South Andros; Luther Smith, permanent secretary, Ministry of Works and Utilities; Basil Longley, chairman, The Bridge Authority; Robert Mouzas, deputy director; David Cox, senior civil engineer; Jumanne Paul, senior engineer; Kevin Sweeting, project lead; and representatives of BRON Ltd.

Also in attendance at the meeting, held at Central Andros High School, was Beverly Larrimore, administrator for North Andros, and heads of government departments. Mr Sears said: “As you will see in the presentation, the bridge represents a road, and it is a vital road because in Central

Andros we have three critical creeks and, if there were no bridge over those creeks, there would be no road and thus separation.

“Andros is mighty because it is connectednorth, central and south. It is what we call the Big Yard. It’s not one piece of Andros; it’s all of Andros. What keeps Andros unified are those roads and, over the water, the bridges.” Mr Mouzas said BRON was hired in 2020 to undertake a feasibility study of both bridge sites and offer the “best” solution for residents and visitors. A meeting was held with residents on August 14, 2020 to solicit feedback on the study.

“We have listened to your requests,” said Mr Mouzas. “Today, the BRON team will be presenting preferred solutions.” Mr Sweeting outlined the requirements, concerns, options, concepts and solution developments for the bridges. He said survey results revealed concerns of residents including the need for dual lanes, wider bridges to allow traffic access and increased heights and clearance.

More than 80 percent of the concerns expressed related to safety. Concern was also expressed for traffic accessing the Stafford Creek Bridge, as it is on a curve. Residents expressed a “strong” desire for a higher bridge for Fresh Creek – higher than the 12 feet proposed in the ministry’s requirements - to allow vessels with a higher height to get under the bridge to travel to the western area of the creek, and possibly spur economic development there.

The survey also indicated several environmental concerns, and that residents have no desire to pay a toll.

Mr Sweeting explained that the single lane, 53-year-old bridge in Fresh Creek is in poor condition, allows one lane of traffic at a time and is currently designed for a weight of 10 tons maximum. It has a nine foot clearance, no sidewalks, and utilities are vulnerable to impact and many of them are exposed.

He added that the conditions of the bridge in Stafford Creek are similar to Fresh Creek Bridge, with the exception of the alignment of the road to the entrance, which has two curves on either side that makes access unsafe for vehicles.

Regarding the preferred option for Fresh Creek

Bridge, Mr. Sweeting said:

“We designed this option with a 36-foot clearance from the main high water considering sea level rise estimated at one metre. It is a reinforced concrete structure, very resilient. It’s meant for this type of environment that is highly corrosive, more than seven feet between piers. There

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is little obstruction in the creek.

“With this option there will be a need for dredging. Because we are now raising the bridge we need to actually lengthen the bridge. We are now increasing the length of Fresh Creek Bridge. In order to get a higher height we will have to do some dredging on the southern side of the bridge. We’re looking at about seven feet of dredging at its maximum depth.”

Mr. Sweeting said the option of demolishing the existing bridge, and construction of a replacement two-lane bridge, has been selected for Stafford Creek Bridge.

“Government would have gone ahead with option three based on recommendations of locals, who said a new bridge was desired,” he added. “We would have looked at a bridge at a relocated location.

“Moving it further west allows it now to have a safer alignment approaching the bridge. It will allow it to have a wider curve approaching the bridge that is safer than the curve that’s currently there. The existing bridge would remain and we would build a new bridge to the west of it - a new bridge with two lanes and two

private sidewalks on each side.”

Mr Sweeting assured residents that the concepts for both new bridges would allow improved access and provide safety for users.

“The cost of recommended options is high but does provide additional safety and improved access to vehicles and boats. Even though the cost is high there is a high return value for the long-term so the initial high cost can be justified because, long-term, it will provide safety and greater access to the bridges,” he added.

“We will improve infrastructure along Queen’s Highway. We will look at making improvements to utility infrastructure that crosses the bridge, and the roads that approach the bridge will be improved. They create more opportunities and economic activity west of the bridge as we open them up.”

A question and answer period followed the presentation. Concerns raised by residents included improvements to the creek near to Fresh Creek Bridge, opportunities for transferring knowledge, compensation to persons affected by work on the project and more.

ALFRED SEARS, minister of works and utilities, is pictured (centre) along with officials from his ministry reviewing design concepts for the Stafford Creek Bridge and Fresh Creek Bridge.

KEVIN SWEETING, project lead, BRON Ltd, speaks at a Town Hall Meeting to discuss design concepts for Fresh Creek Bridge and Stafford Creek Bridge in Andros.

ALFRED SEARS, minister of works and utilities, addresses a Town Hall Meeting on the Fresh Creek Bridge and Stafford Creek Bridge at Central Andros High School. Also shown in the first row from left is Basil Longley, chairman, Bridge Authority; Luther Smith, permanent secretary; and Bacchus Rolle, parliamentary secretary

ALFRED SEARS, minister of works and utilities (second right), greets residents in Andros following a Town Hall Meeting.

SANDALS UNVEILS ITS DIAMOND EMPLOYEE

SANDALS Emerald Bay has selected its accounts payable head as its Diamond of the Year from more than 500 staff at the Exuma property.

Brenette Nixon knows what few others in the industry know – exactly what it costs to run a hotel.

She pays the bills. But beyond her job title, her story is one of those Cinderella-like tales that would not be possible, she says, if Sandals were not so committed to promoting those who show promise regardless of where they start.

Having started as an entry level general cashier, she is now head of accounts payable, the division responsible for ensuring accuracy and on-time payment of all bills and expenses at the sprawling 480-acre Sandals Emerald Bay resort. That includes hotel accommodations, villas, restaurants, bars, marina, golf course and other areas, even including photography.

Ms Nixon was raised along with three siblings by her mother after her father died when she was eight, too poor to dream of going to college. But she is accustomed to learning as she goes regardless of struggle, overcoming and making her way to the finish line just as she did in track despite having to run barefoot.

“A lot of us at LN Coakley (High School) were like that,” says the Exuma native. The 100 metres was her best event. She would often come first or second, running her heart out barefoot on the hard soil that served as a track. A former track star named Ricky Moxey, later in life a coach and teacher at a government school, bought her and others at the school their first pair of running shoes.

“I was in my last year of school,” she said. Years later, when Ms Nixon was a leader in the Sandals Foundation Angels, the first thing she did was make sure

the Foundation provided funds for track and field athletes at the same school she attended - a school the resort now regularly supports. The Foundation also purchased playground equipment for Rokers

Point Primary along with the other deeds and gifts team members carry out throughout the year. Ms Nixon also serves on EHS Guardian, the in-house group dedicated to the environment, health and safety. And she is Sandals

Emerald Bay Resort’s Big Dream Ambassador.

But the title that shocked her the most was one that placed her as the top employee of the entire resort - a title bestowed on her last year at the annual gala event and an honour she still holds.

“When I was announced the winner, I was so shocked, I could not get up. My daughter said: ‘Mom, they called your name. You won, you gotta go up there’.

I couldn’t move. And then it all came rushing back, all the work I have done, how much I have loved being here and all that Sandals does for the community,”

Ms Nixon said. “No one outside the business has any idea how much it costs to run a hotel every day,” she added. Ms Nixon handles just about everything online as paper checks go the way of rotary dial telephones. In the 13 years since she joined the company, she’s taken bookkeeping, accounting,

English and Microsoft, been promoted several times and, most recently, moved from internal audit to accounts payable.

“Brenette deserves the award she received. As our Diamond, her work ethic, sense of responsibility and her commitment to the community in which she was raised shines brightly,” said Jeremy Mutton, Sandals Emerald Bay’s general manager. “We are thrilled that her daughter is with us in the entertainment division as she studies nursing.”

“My mother once worked here, too, and that would have made three generations,” said Ms Nixon. “I cannot even imagine Exuma any more without Sandals or what my life would have been. I am as grateful as I am excited.” Now, she says, there is just one other little thing on her agenda - finishing her courses for her online college degree.

Tax chief warns firms over record-keeping

THE Department of Inland Revenue’s acting controller has warned that companies which fail to keep proper financial records are exposing themselves to fines and possible prosecutions.

Shunda Strachan said: “We have noticed trends where businesses are claiming not to have records, and not to have any idea of what is being made per day, week, month or year.” She added that the

consequences could be especially severe if it was shown companies are using this to avoid/evade paying dues taxes.

The acting controller said the Department of Inland Revenue does not want to see businesses closed, or persons lose their land, due to unpaid tax arrears but said the agency has a mandate to collect what is owed to the Government. Ms Strachan advised persons and companies in difficulty

to contact the Department of Inland Revenue, so both sides can work out an agreement and payment plan for the outstanding taxes before tougher enforcement action is taken. Ms Strachan called on individuals and businesses to be honest about their situation. Pictured are Ms Strachan, acting controller, and Dexter Fernander, of the Department of Inland Revenue’s operations section.

Dependable, Highly Organized, Multi Tasker, Able to Give Attention to Detail.

If you possess these qualities, we invite you to apply for the position of:

CUSTOMER SERVICE CLERK ABACO, BAHAMAS

Job Summary:

We are seeking to recruit proficient, service-oriented Customer Service Clerk (Tellers, Customer Service and Clerical Assistants) to join our team in Abaco, Bahamas, to perform banking transactions and support services for our customers. The position also entails sundry duties and cross training opportunities. This position requires a great attitude, professionalism, an out-going personality, with a high degree of precision and competence.

Duties and Responsibilities:

• Can multi-task while maintaining a high level of accuracy

• Practices good communication skills

• Can assist with sales by making referrals (as per minimum quota)

• Has the ability to cross-sell Fidelity’s products and services

• Possesses excellent work ethics

• Has the ability to stay alert and attentive at all times

• Can work shifts, evenings and weekends (Saturday)

• Is computer literate

Minimum Requirements Quali cations

• High School Diploma or General Education Degree (GED); and one year related experience and/or training; or equivalent combination of education and experience.

• Must have excellent communication skills (verbal and written)

• Ability to manage the administration of multiple tasks at one time

• Who is a resident or lives in Abaco preferred All applications will be held in strict confidence. Only short listed candidates will be contacted.

Photo:Patrick Hanna/BIS

FOR mother Brenette Nixon and daughter Breniea Smith, the best surprise was when mother was named top employeethe best out of more than 500 members of staff – earning the Diamond of the Year honour. Not bad for a former track star who ran barefoot until her last year of high school.

GB water rise conflict ‘most fantastic thing’

that it will undertake “a fair and transparent review process” that will balance the water provider’s interests with that of consumers.

However, many like Mr Alnebeck are sceptical given the obvious conflict that arises between the GBPA’s regulatory responsibilities and the private, for-profit interests of its shareholders, the Hayward and St George families, who also own and control GB Utility through their Port Group Ltd vehicle. Kwasi Thompson, the Opposition finance spokesman and east Grand Bahama MP, has already argued that in this case the GBPA is effectively regulating itself.

“Of course they want a rate increase,” Mr Alnebeck said of GB Utility. “I think it’s the most fantastic thing. The most fantastic thing is, of course, the ownership of the Port Authority is the same as GB Utility Company, so it’s a self-regulating thing. I think both you and I would love to negotiate our salaries with ourselves, them we will get a decent increase.

“The way their press release was written, people forget that it’s the same ownership.....” Asked whether URCA should

take over utilities regulation in Freeport to eliminate such conflicts, either perceived or real, Mr Alnebeck replied: “Absolutely. I can’t see how a utility company that has a monopoly can be owned by the same people that have the regulatory power. It doesn’t make sense to most people anywhere in the world.”

URCA, though, does not yet have national regulatory authority for water. And the GBPA has the statutory responsibility for regulating utilities in the Port area by virtue of Freeport’s founding treaty, the Hawksbill Creek Agreement, while both Grand Bahama Power Company and Cable Bahamas are still challenging URCA’s bid to regulate their operations in the Freeport area via the Supreme Court.

The fear has been that, if the GBPA relinquishes regulatory authority for utilities in the Port area, it could be seen and interpreted as consent to abrogate the entire Hawksbill Creek Agreement treaty and thus undermine it. For that very reason, Pastor Eddie Victor, head of the Coalition of Concerned Citizens, in the wake of GB Utility’s rate increase proposal has called for an “URCA-type” committee

- rather than URCA itselfto scrutinise the application.

Mr Alnebeck, meanwhile, said the GB Utility proposal threatened to further increase Pelican Bay’s existing losses. Unlike companies and hotels elsewhere in The Bahamas, which would merely see their profits partially eroded, he explained that the application - if approved - will only add to the ‘red ink’ and financial support required from owners and shareholders alike.

“It’s going to increase our losses, and owners are going to have to put more aside for the privilege of running a hotel in Grand Bahama. It’s as simple as that,” Mr Alnebeck told Tribune Business. “I don’t know who can pass this on to their customers without reflecting on their cash flow which, in our case, is a negative cash flow. We’re not in a position to pass that on. It doesn’t work like that. The only thing we can do is stop watering the grass and plants and cut back.”

GB Utility is clearly expecting large volume users, namely higher income residents and the business community, to bear the brunt of the increases. Those consuming between 10,001 and 20,000 gallons per month,

and representing 8 percent of the customer base, will see their bills rise by around $20.73 per month - representing a jump from an average $71.42 to $92.14. This is equivalent to a $248.76 annual increase in water costs.

Users of more than 20,000 gallons per month, chiefly hotels such as Mr Alnebeck’s Pelican Bay and Freeport’s large industrial companies, who comprise 5 percent of customers, will see their tariffs jump by $125.74 per month to an average $558.67 compared to the present $432.93. This is equivalent to a $1,508.88 annual increase.

However, the GB Utility rate application refers to “averages” for each category of customer, so it is clear there are individuals and businesses in each who will pay more than the figures given. GB Utility, in its rate increase application, pledged that 40 percent of its customer base - those who use 2,000 gallons or less per month, and are likely to be lower income residential users - will not see any price hikes from the adjusted tariff structure that is due to take effect on May 1. Average consumption among this group is 600 gallons per month, and the

average bill is forecast to remain at $12.83.

The water provider, in a statement, said a further 47 percent of clients - who consume between 2,001 and 10,000 gallons monthly - will only see an $8.16 per month tariff increase that will take their average bill from $28.13 to $36.29. This equates to an annual water cost increase of $97.72 - less than $100.

Pastor Victor, though, is arguing that GB Utility’s shareholders and owners should pay for the costs incurred in financing the company’s new reverse osmosis system rather than passing this burden on to the consumer. Suggesting that Grand Bahama residents should, if they can afford to, seek to access their own well water, he also questioned how consumers outside the Port area could be hit with a rate increase without the Government’s involvement or approval.

GB Utility, seeking to justify the recovery of at least some of its $15m Hurricane Dorian restoration costs from its customers, said that while the $5m investment in a reverse osmosis system will provide extra supply resilience and sustainability in the future this has come at a significant increase

in operating costs and “a financial loss”.

“Reverse osmosis systems are extremely expensive to operate in comparison to well water plants, adding an additional $2.5m to the utility’s annual operating costs from 2021 at a financial loss to the utility. This additional operating cost, to date, will not be recouped in rates retroactively,” GB Utility said in a presentation.

“GB Utility also experienced $3m in Hurricane Dorian-related infrastructure storm damage. In addition, there was approximately $2m in uninsurable losses associated with Hurricane Dorian including over $500,000 in costs to operate the free water depots for residents and 25 percent discounts given to residents for water usage.

“These costs were at a financial loss to the utility and will not be recouped in rates..... GB Utility deferred the rate case for two years, at a significant financial burden and cost to the utility. To defer any longer will result in higher cost accumulation and consequently rates, and jeopardises the utility’s ability to maintain and produce potable water and remain functional.”

CHINA AUTO SHOW HIGHLIGHTS INTENSE ELECTRIC CAR COMPETITION

By JOE MCDONALD AP Business Writer

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GLOBAL and Chinese automakers plan to unveil more than a dozen new electric SUVs, sedans and muscle cars this week at the Shanghai auto show, their first full-scale sales event in four years in a market that has become a workshop for developing electrics, self-driving cars and other technology.

Automakers are competing to roll out faster, more luxurious, more featuredrenched electric vehicles in the technology’s biggest, most crowded market. The ruling Communist Party has invested billions of dollars in subsidies to buy an early lead in an emerging industry. Established global brands face intense competition from Chinese rivals.

For the first time since 2019, executives are flying in from the United States, Europe and Japan for the world’s biggest auto show after anti-virus curbs that blocked most travel into China were lifted in December. Auto shows in the industry’s biggest market went ahead during the pandemic, but on a smaller scale. Global brands were represented by

operations. Drivers in the world’s biggest auto market bought 5.4 million pureelectric vehicles last year, or about two-thirds of the global total of 8 million, plus 1.5 million gasolineelectric hybrids. That was more than one-quarter of total auto sales of 23.6 million. This year’s EV sales are forecast to rise another 30%.

“Consumers lost interest in gasoline cars. That is the biggest challenge for foreign brands to compete in China,” said industry analyst John Zeng of LMC Automotive. “They are going to have to show their best EV products.”

Beijing is winding down government support and shifting the burden to automakers by requiring them to earn credits for EV sales. Manufacturers are pouring billions of dollars into developing models that can compete on price and features without subsidies. Many are forming partnerships to share soaring costs.

Auto Shanghai 2023 fills the cavernous Shanghai exhibition center, a 1.5 million-square-meter (16 million-square-foot) subcontinent of a building

that is among the world’s biggest.

Volkswagen AG, the country’s top-selling brand, says it plans to display 28 models, half of them electrified. VW says it will debut its ID.7 limousine, which promises a 700-kilometer (435-mile) range on one charge.

China’s BYD Auto, which competes with Tesla Inc. for the title of world’s biggest-selling electric automaker, says it will display for the first time its U9 supercar from its luxury Yangwang brand. The automaker says the U9, with a 1 million yuan ($145,000) sticker price, can accelerate from zero to 100 kph (60 mph) in two neckstraining seconds.

China’s auto sales peaked in 2017 at 24.7 million but collapsed in 2020 to 20.2 million after dealerships closed as part of efforts to contain COVID-19. They are recovering but are yet to return to the pre-pandemic level.

The ruling party’s support for EV development is part of plans to gain wealth and global influence by transforming China into a creator of profitable technologies.

Bad loans ‘too high’ - yet at 14-year low

with the extremely high loan delinquency rate by international standards that persisted since the great recession, have discouraged growth in lending to the private sector.

“With the recovery of the economy from COVID-19, the non-performing loans rate has fallen close to 7 percent of total private sector loans. This improvement places the system just below where the rates were before the pandemic started, but it is still too elevated by international standards.”

At end-February 2023, the non-performing loan ratio stood at 7.4 percent, with both that and the $397m figure representing the lowest delinquency levels for 14 years since the peak of the 2008-2009 recession. Mr Rolle spoke as he moved to clarify reforms to the Central Bank Act that lower the regulator’s “lending limits” to 15.5 percent of the Government’s “average” or “estimated” ordinary revenue, decreasing it by almost half or 50

percent in percentage terms from the current 30 percent threshold.

He explained that this “redefined” limit applies only to loan advances made to the Government, while “capping” the latter at its current borrowing position with the Central Bank. “The Government does not lose the benefits from the bonds it had already issued,” Mr Rolle explained. “It just can’t use those channel for renewals or rollovers of any debt received through the Central Bank.”

Additional changes to the Central Bank of The Bahamas Act, tabled in the House of Assembly on Wednesday, will also prohibit the monetary policy regulator from acquiring any central government debt securities - or those it has guaranteed or have been issued by a public corporation - at their initial public offering (IPO) stage.

While the Central Bank will still be permitted to buy and sell such debt securities via secondary market trading, as part of its normal operations and to ensure there is sufficient system

liquidity, he added that the Government will “not be able to raise any new money” from the regulator via these instruments once the reforms become law.

Mr Rolle, meanwhile, described The Bahamas’ first-ever credit bureau as the Central Bank’s most critical move in facilitating greater credit creation for the private sector. Commercial banks will be better able to identify good credit risks, and those most likely to repay their facilities, thereby ensuring solid borrowers gain better access, faster approvals and, potentially, lower interest rates.

“The most important Central Bank intervention to encourage lending growth is allow the credit bureau to mature in its operations,” the Governor added. “It will allow lending institutions to manage credit risk better, and be more confident about how to direct credit. The credit bureau helps to support responsible lending and reduce credit losses since it provides lenders with credit histories of borrowers.

“Where potential borrowers are overextended, banks will have an informed basis to deny credit. Conversely, where potential borrowers are not over-extended and can afford to repay loans, lenders can grant credit and offer concessionary terms. The Central Bank has observed in the last six months that banks and credit unions are recognising the benefits of the credit bureau and are starting to use the data retrieved from the bureau in their credit adjudication processes.

“The next needed support for improved lending outcomes is to have the moveable collateral assets registry established. It will give lending institutions an expanded set of secured collaterals against which to provide credit, especially for small and mediumsized businesses,” Mr Rolle continued.

“The Central Bank expects to complete the draft legislation for the registry in 2023, which would be recommended to the Government to enact, and to work with the Government

CITY’S ‘TURNED THE TIDE’ WITHOUT CENTRAL BANK

FROM PAGE B1

via the new US embassy as well as at The Pointe and Margaritaville are just some of the projects laying the foundation for the area’s rebound.

John Rolle, the Central Bank’s governor, did not reply to Tribune Business questions on why the Central Bank has chosen to terminate the Royal Victoria Gardens headquarters - a project that has been worked on for the past six years since 2017 - and transfer the land back to the Government’s ownership.

While conceding that the building would have been a major addition to downtown Nassau, and raised the city’s appearance, Mr Klonaris said its employees and their purchasing power will remain at the Central Bank’s existing offices to benefit the area’s merchants, restaurants and other businesses.

“This beautiful, magnificent building that would have been erected would have added a nice appearance to the city of Nassau,” the Downtown Nassau Partnership (DNP) co-chair told this newspaper. “It would have shown confidence in

the development of the city, so from that aspect we will be missing that.

“Bear in mind we have the cruise port that is now being completed, plus the US embassy, so having this new Central Bank with that design which was really beautiful would have added so much to the city of Nassau. We’d have this new, iconic building downtown which would be a nice appeal for the city of Nassau.

“It would have been a useful addition to see this magnificent building on top of the city but, all of a sudden, it’s postponed. It is a slight negative effect, but overall I think there’s enough momentum going on so that it won’t disrupt the progress of the city. I’m hopeful that in the shortterm they will reconsider the new Central Bank building.”

The new Central Bank was designed to be an “iconic structure” and a “one-of-a-kind building” that was to play a central role in the overall revival of downtown Nassau. But the Central Bank, in a Thursday night statement, said: “The Central Bank of The Bahamas wishes to advise the

public that it has terminated its project to construct a new headquarters building on the Royal Victoria Gardens site in downtown Nassau.

“Accordingly, the Central Bank has started the process to transfer ownership of the property back to the Government so that alternative use can be made of the site. In 2017, the Government agreed to transfer the Royal Victoria Gardens to the Central Bank for development of its new headquarters building.

“The transfer was approved by Parliament in 2019 and executed in 2022. In 2018, the Central Bank hosted a competition and selected a conceptual building design from Architecton Design Studios. The firm was subsequently contracted to provide the architectural services for the project. The Central Bank will explore alternative arrangements to meet its long-term accommodations needs.”

Setting aside the Central Bank’s move, Mr Klonaris said downtown Nassau and the wider city are now positioned to benefit through the extra visitors facilitated by the cruise port’s

expansion. He again urged entrepreneurs and landlords to invest in upgrading their properties and businesses so they can exploit a much larger customer base.

“I feel so confident about the city of Nassau,” he told Tribune Business. “We see for the first time here, on one day, over 20,000 tourists across the city. We’ve come a long way. I’m really proud of the contribution and progress we’ve made for the city. We’ve built the foundations, so it’s up to the individual store owners and property owners. “We have over 20,000 tourists downtown. It’s up to the store owners to look at that in a positive way and

to go through the process to identify a firm to provide the technology solutions for the registry.”

Mr Rolle, meanwhile, said the recent US bank failures involving Silicon Valley Bank and Signature Bank, as well as fears of global contagion that resulted in Credit Suisse’s ‘forced’ merger with UBS, have not impacted the Bahamian financial services industry and are unlikely to do so.

“The recent US bank failures have had little no impact on banks in this jurisdiction in terms of balance sheet exposure. We see the business models that were run by these US banks were completely different from the business of the more conservative private banking and wealth management carried out by international banks in The Bahamas,” he said.

Mr Rolle was backed by Karen Rolle, the Central Bank’s inspector of banks and trust companies in her latest quarterly letter to the industry, where she wrote: “With the current level of uncertainty and instability in

see how they can exploit it and take advantage of the consumer. The opportunity is there for the first time in a very long time. I’ve been at it for 20 years, 20-plus years, let’s put it that way. It’s been a downward spiral regrettably, but we saw just after COVID we started to see things turn around.”

Mr Klonaris said it had taken The Bahamas almost a decade to recover from the 2008-2009 recession, and the country had just started to emerge when the pandemic struck. “I’m happy to see the progress and that there’s more stability in the island right now,” he added.

“The way I look at it, the DNP, over many years, yes, we’ve struggled. There were a lot of bumps in the road, but eventually put forth a

global financial markets, the Central Bank of The Bahamas, like other regulators, continues to maintain close surveillance of Bahamianregulated entities.

“On the whole, the stability of the sector’s balance sheet is not threatened by these events, although it is too soon to assess how the operational footprint of supervised financial institutions could be impacted. Nevertheless these upheavals underscore the importance of ongoing initiatives to strengthen The Bahamas’ crisis management framework.

“Crisis management and resolution have been important focuses of the Central Bank’s regulatory agenda over the years, recently resulting in a formalised legal framework for recovery and resolution for the banking sector. Similar emphasis is now being placed on developing a resolution approach for the credit union sector.”

programme and have seen the progress that has taken place. It’s up to the stakeholders now. They’ll look at what we’ve done, the amount of tourists downtown, and decide if they want to take part in not just enhancing their business but the economic activity presented to them.

“We’ll see a lot of stakeholders upgrading their property. These things don’t happen overnight. It takes a lot of time but, fortunately, we’re there. I’m very confident that we’ve turned the tide for the redevelopment of the city in a positive way.” Jr Klonaris, though, acknowledged that solutions are still needed for downtown Nassau’s lack of parking especially on the eastern side.

‘Someone did some thinking’: Petroleum competition push

said the proposal would then go to Cabinet for support/approval at the policymaker before any necessary legislative and policy changes are made.

Bahamian petroleum retailers, though, were more tight-lipped on the Government’s proposal. “I can’t comment on anything pertaining to the Government right now,” said Vasco Bastian, the Bahamas Petroleum Retailers Association’s vice-president. The Association’s president, Raymond Jones, could not be reached before press time last night despite this newspaper making multiple phone calls and sending messages.

Sir Franklyn, meanwhile, said the industry was now analysing the Government’s suggestions but added that no one left Friday’s meeting “throwing stones”.

He told Tribune Business: “The Government laid out a proposal, and I think it’s generally being seen as a serious effort to address the issue.

“They’ve introduced some new concepts that provide elements of competition between all the parties - between individual

sites [gas stations] and also between individual wholesalers. In the parlance of the current times, perhaps you’d call this a new day. The Government has asked us to come back and tell them what they think by, I think, Wednesday. I didn’t see anyone leave the meeting throwing stones. It’s a new concept.... It introduces some significant new concepts.”

Sir Franklyn declined to provide further details on the Government’s proposal but, when asked by Tribune Business if this meant eliminating the current price-controlled fixed margins, replied: “Yes. At both levels.” The latter meant at both the wholesale (Esso, Rubis and Shell) level, where margins are 33 cents and 18 cents per gallon of gas and diesel, respectively, and for retailers, where the equivalent is 54 cents and 34 cents for gas and diesel, respectively.

Mr Wilson, though, denied that the Government’s plan for breaking the petroleum industry deadlock involved changing its fixed-margin structure. His comments are consistent with the Government’s long-stated position, repeated several times by

Michael Halkitis, minister of economic affairs, that it will not accept a solution that results in “an immediate increase” in gas prices for businesses and consumers.

“It still has to be considered by the industry, and considered by the Government and approved by the Government,” Mr Wilson told this newspaper. “What the proposal seeks to do is to foster competition but not at the expense of the consumer. Clearly the current system is under a lot of pressure, and there must be a mechanism to do this but not at the expense of the consumer.

“It’s something that we presented, we developed the concept and we’ll have to see what’s going to happen. We have to wait until we get comments back from the retailers and wholesalers, and get the support of the Government.

This is the first step. Once we get past the first step, and get consensus between the retailers and the wholesalers that this can work, the next step will be to get political support.

“The final step will be making any adjustments in legislation, policy and rules so that this can work and

NETFLIX KEEPS ‘LOVE IS BLIND’ FANS WAITING FOR LIVE REUNION

advising consumers.” Mr Wilson said the Government was seeking through its proposal to address the concerns of all petroleum industry participants, rather than just one side.

“It’s a very delicate situation,” he conceded. “Some retailers are under a lot of pressure; some more than others. The wholesalers have a huge fixed cost base, a lot of which they cannot pass on easily. They have to amortise that cost over a long period of time with their investments in stations, safety equipment and so forth.

“We also have to recognise this industry has a limited time horizon. As more electric vehicles come on stream, it can change very quickly and very drastically. We have to recognise that. The industry is changing before our eyes.” Sir Franklyn, meanwhile, said following Friday’s meeting that FOCOL executives are “crunching the numbers as we speak, I’m sure.

“I think people will analyse and think through what has been proposed, and we’ll see,” he added. “The meeting was long enough for people to hear what the Government is proposing, and long enough for people

LOS ANGELES

Associated Press

LOVE isn’t patient, love isn’t kind — at least if you ask the fans of Netflix’s “Love Is Blind.” Viewers had to wait more than an hour to watch the Season 4 reunion special set to stream live Sunday — Netflix’s second-ever live event on its own platform.

“Love Is Blind: The Live Reunion,” hosted by Vanessa and Nick Lachey, was to stream from Los Angeles starting at 5 p.m. Pacific. Netflix subscribers were able to join a waiting room for the show 10 minutes before the start time — and those who did were still there an hour later. The show finally started airing — seemingly live — at around

Are

If

to digest it properly. There’s some significant new ideas, let’s put it that way; significant new ideas.

“Obviously someone did some thinking. They didn’t pick these ideas out of a hat. Someone did some thinking. It’s new ideas, let’s put it that way. People have to analyse and have got to deal with it.”

The last margin increase enjoyed by gas station operators occurred in 2011, some 12 years ago, under the last Ingraham administration, and operating costs and inflationary pressures have increased substantially then. That took gasoline margins from 44 cents per gallon to 54 cents, where it has remained ever since, while diesel stands at 34 cents per gallon.

Gas station operators have been seeking a margin increase equal to 7 percent of the landed cost of fuel as their equivalent of a livable wage, viewing this as critical to their survival given that existing price-controlled fixed margins simply cannot be adjusted to cover a multitude of ever-increasing costs.

Listing the ever-rising costs that fixed gasoline and diesel margins must absorb, the BPRA’s Mr

6:16 p.m. Pacific, although some Netflix users still reported difficulties accessing the content.

“We are sorry we’re late,” Vanessa Lachey said, the sole acknowledgment of the delay at the top of the broadcast.

“To everyone who stayed up late, woke up early, gave up their Sunday afternoon… we are incredibly sorry that the Love is Blind Live Reunion did not turn out as we had planned,” Netflix tweeted at 6:29 p.m. Pacific.

“We’re filming it now and we’ll have it on Netflix as soon as humanly possible. Again, thank you and sorry.”

A request for comment from Netflix was not immediately returned. Netflix’s first live streaming event, “Chris Rock: Selective Outrage,”

Jones previously pointed to the 2-3 percent “commission” or fees charged on every debit and credit card payment. On a $6 gallon of gasoline, the 3 percent charge amounts to 18 cents or one-third of the 54 cent margin, although this might be slightly less depending on the issuing bank.

With The Bahamas still largely a cash-based economy, he added that some gas station operators are being charged between $4,000 to $10,000 a month to deposit cash. With banks unwilling to accept such deposits over the counter, the industry is now incurring fees for doing this via the night deposit box.

And, with many of the petroleum industry’s 1,000plus employees earning the minimum wage, Mr Jones said their has increased by 24 percent or $50 per week due to the increase. While not opposed to the rise, he added that this has increased payroll costs for gas stations while also raising associated National Insurance Board (NIB) contributions. Insurance costs have also risen by 15 percent.

did not feature any apparent technical difficulties. On Twitter, Netflix had acknowledged the delay without offering explanation. At two minutes past the initial start time, it promised the special would be in on in 15 minutes. Seven minutes later, the company tweeted: “Promise #LoveIsBlindLIVE will be worth the wait....” along with a picture of one of the season’s “villains.” The last activity from the account was a retweet of U.S. Rep. Alexandria Ocasio-Cortez making a joke about the delay. With the original end time of the special approaching, nothing had been posted since — and it remained that way even once the show started airing for some, until the apology tweet.

CUSTOMER SERVICE CLERK

NEW PROVIDENCE, BAHAMAS

Job Summary:

•

Duties and Responsibilities:

•

•

• Possesses excellent work ethics

•

• Is computer literate

Minimum

•

•

•

In the Estate of CALEB EUGENE PEDICAN late of the Settlement of Bluff in the Island of Eleuthera one of the Islands of the Commonwealth of The Bahamas, deceased.

NOTICE IS HEREBY GIVEN that all persons having any claim against the above named Estate are required on or before the 12th day of May, 2023 to send their names and addresses and particulars of their debts or claims to the undersigned and if so required by notice in writing from the undersigned to come in and prove such debts and claims or in default thereof they will be excluded from the benefits of any distributions made before such debts are proved AND all persons indebted to the said Estate are asked to pay their respective debts to the undersigned.

HAILSHAMS LEGAL ASSOCIATES

Counsel and Attorneys at Law

RENALDO HOUSE

10 Queen’s Highway Palmetto Point, Eleuthera, Bahamas

P. O. Box SS 5062, Nassau, Bahamas

Attorneys for the Administrator of the above Estate Tel: 242-332-0470 email: hailshams@1stcounsel.com

NOTICE

International Business Companies Act (No. 45 of 2000)

AUBURN GROUP LTD.

Registration Number: 165810 B

(In Voluntary Liquidation)

Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act (No. 45 of 2000) AUBURN GROUP LTD., commenced voluntary liquidation on the 17th day of April, 2023.

Any person having any claim against AUBURN GROUP LTD., is required on or before the 17th day of May, 2023 to send their name, address and particulars of the debt or claim to the Liquidator of the company, or in default thereof they may have excluded from the benefit of any distribution made before such claim is approved.

GSO Corporate Services Ltd., of 303 Shirley Street, Nassau, The Bahamas is the Liquidator of AUBURN GROUP LTD.

GSO Corporate Services Ltd. Liquidator

NOTICE is hereby given that DUROFARO CAJUSTE, of Palmetto Point, Eleuthera, Bahamas applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 17th day of April 2023 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

JOUARRE VALLEY INC.

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, JOUARRE VALLEY INC. is in dissolution as of April 11, 2023

International Liquidator Services Ltd. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

L I Q U I D A T O R

NOTICE

NOTICE is hereby given that NEVILLE LLOYD MCLISH of #55 Bernard Road, New Providence, Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 17th day of April, 2023 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NEW PUSH ON US-RUN FREE ELECTRONIC TAXFILING SYSTEM FOR ALL

By FATIMA HUSSEIN

Associated Press

IT’S that time of year when throngs of taxpayers are buckling down to file their income tax returns before Tuesday’s filing deadline. Many often pay to use software from private companies such as Intuit and H&R Block.

Almost one-quarter of Americans wait until the last minute to file their taxes. There could be a new, free option in future years.

The IRS has been tasked with looking into how to create a government-operated electronic free-file tax return system for all. But that doesn’t sit well with the big tax-prep companies. The idea has been batted around and hotly debated for a long time. Congress now has directed the IRS to report in on how such a system might work.

The order came as part of the $80 billion infusion of money for the tax agency over the next 10 years under the Democrats’ flagship climate and health care measure, known as the Inflation Reduction Act, that President Joe Biden signed last summer. It gave the IRS nine months and $15 million to report in on how it might implement such a program and how much it would cost.

Next month, the IRS will release the first in a series of reports looking into how it might be done.

The possibility of an electronic free-file system operated by Washington is being celebrated by some taxpayer advocates who for years have said that would reflect good governance and well serve taxpayers. Critics voice skepticism about the IRS taking on the dual roles of both tax collector and tax preparer, arguing that the new service

could create a power imbalance between taxpayers and the government.

Robert Marvin, an IRS spokesperson, said in an email that a key goal of the study is to “look for ways to make filing taxes as easy as possible.”

“It’s important that Americans have choices that work best for them when preparing their taxes, whether it’s by using a tax professional, tax software or free options,” he said. But big tax preparation companies have millions of dollars to lose if the program comes to fruition. Last year, more than 60 million taxpayers were serviced between Intuit, the parent company of TurboTax, and H&R Block.

Tens of millions of dollars have been spent trying to influence policymakers on the issue, and lobbying data shows that the big tax companies in particular have spent heavily.

An analysis shows that Intuit, H&R Block, and other private companies and advocacy groups for large tax preparation businesses, as well as proponents in favor of electronic free file, have reported spending $39.3 million since 2006 to lobby on “free-file” and other matters. Federal law doesn’t require domestic lobbyists to itemize expenses by specific issue, so the sums are not limited to free-file.

Intuit has spent $25.6 million since 2006 on lobbying, H&R Block about $9.6

million and the conservative Americans for Tax Reform roughly $3 million.

Derrick Plummer, a spokesman for Intuit, said taxpayers can already file their taxes for free and there are online free-file programs available to some people. Individuals of all income levels can submit their returns for free via the mail. A “direct-to-IRS e-file system is a solution in search of a problem, and that solution will unnecessarily cost taxpayers billions of dollars,” he said. “We will

continue unapologetically advocating for American taxpayers and against a direct-to-IRS e-file system because it’s a bad idea.”

Starting in 2006, an agreement between the IRS and some commercial tax preparation companies, known as the Free File Alliance, prevented the IRS from creating its own free tax return filing system. In exchange, tax preparation companies agreed to provide free services to taxpayers making $73,000 or less.

A SIGN is displayed outside the Internal Revenue Service building on May 4, 2021, in Washington. The IRS has been tasked with looking into how to create a government-operated electronic free-file tax return system for all. Congress has directed the IRS to report in on how such a system might work.

Photo:Patrick Semansky/AP