GOVERNMENT IS MAKING a desperate bid to dig the Barbados Port Inc. (BPI) out of a “financial hole” and build up its finances.
Parliamentary Secretary in the Ministry of Tourism and International Transport Senator Irene Sandiford-Garner told the Senate yesterday, despite being one of Government’s “better managed and administered entities”, the agency responsible for the management of the Bridgetown Port was “struggling”, with liabilities that outstrip assets four to one.
In addition, she reported the BPI had gone over its approved overdraft limit of $14 million.
Leading off discussion on the Barbados Port Inc (Transfer of Management and Vesting of Assets) Amendment Bill, Sandiford-Garner said while on the outside the Barbados Port Inc was seen as “a very successful entity” that success did not translate to the finances. (GC)
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