Private investment in BVIEC possible – Hon Mark H. Vanterpool
-but he said it is not currently a consideration
Minister for Communications and Works Hon Mark H. Vanterpool said private sector involvement in the BVIEC is not on the table at this time but has not ruled it out in the future. Photo: VINO/File
The BVIEC is currently undertaking an investment in new generation equipment and in underground transmission cables to the tune of over $42 million. Photo: VINO
ROAD TOWN, Tortola, VI – It has been the expressed concern of many across the Territory and at some levels of management of the BVI Electricity Corporation that the NDP-led government may be considering shedding some of the load of financing the BVIEC into the hands of the private sector.
This concern was put to Minister for Communications and Works Honourable Mark H. Vanterpool by this news site during a recent interview when he noted that this could be possible in the future.
“It could be a possibility in the future because we are opened to any of those possibilities where you do what you call a private public sector arrangement,” he said.
He however made it abundantly clear that at this stage this is not a consideration.
“That is not a consideration right now as far as the Ministry knows, not as far as the government knows and I don’t think the board of the corporation is considering it,” he noted.
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18 Responses to “Private investment in BVIEC possible – Hon Mark H. Vanterpool”
I told you so! Henry's removal from the scene was no accident, he refused to back these cr....s to have the Coperation follow in the foot steps of the Port. No rational thinking person would support the move to privitize the Elect. Corp. The truth concerning this proposal will come to light sooner than later. What is most disturbing is the predictable increase in the charges which will be introduced once this deal goes through.
Moreover, every organization should undergo a periodic review, a health check, a comprehensive physical. This should be the first step before even giving any consideration to privatizing or outsourcing(these two different processes). In privatizing a third party own, operate and maintain the asset and government by the service. And with outsourcing, government owns the assets and contract with a third party to operate them. Neither outsourcing nor privatizing is a panacea for improved services or reduced cost. There are circumstances in which they may add value, ie, infrequently needed skills, surge capacity, leveraging changing technology, bulk purchasing of goods and services......etc. Buyer beware! Over time cost creep creeps in outsourcing. No harm in looking into the option; looking should not mean you have to buy. But the reason for looking must be transparent and above board.
Additionally, we must review, build strengthen and improve functions before
launching into these unknown journies. We should not jump into the ocean before we can swim.