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