BIDC to sell more property

The Barbados Investment and Development Corporation (BIDC) is to get rid of some more of its properties on the instruction of Minister of Industry and Commerce Donville Inniss.

He said the move to shed some of the idle property would bring in about $4 million over the next two years, though he did not identify which properties could be going.

“The BIDC has been directed to dispose of non-performing assets and this is a policy that has nothing to do with the state of the public finances. But the truth of the matter is that the BIDC is perhaps the largest property owner outside of central Government. It has been carrying a lot of non-performing assets on its books,” Inniss said.

The minister was speaking to the DAILY NATION on the eve of the Ministerial Statement to be delivered today by Minister of Finance Chris Sinckler.

The statement is in lieu of a Budget this year. (AC)

Please read the full story in today’s Daily Nation, or in the eNATION edition.