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The Opposition Leader has expressed concern that Belize Telemedia Limited (BTL) is about to declare bankruptcy. He told the media this morning that his concerns stem from dwindling profits, which he said have dropped from $30 million to $1 million. He also mentioned the government’s contract with SMART and the sale of land by BTL.
Opposition Leader Moses “Shain” Barrow: “The destruction of BTL has been done in multiple stages. First, the contracts went to SMART. Millions of dollars in contracts went to SMART, which is affiliated with the honorable Prime Minister. Then, all the contracts that were originally for the government went to SMART, so now the assets of BTL are being sold, and we believe this is because we are in the final stages of BTL being declared bankrupt, so we call on the people of Belize to pay attention to this because the people of Belize are the majority owners of BTL, and these things really show and expose the corrupt government of the People’s United Party.”
It is noteworthy that at the last AGM of Belize Telemedia Limited (BTL) held in November last year, the company announced a 54% increase in dividends for the fiscal year ending March 2023. In addition, the government has reportedly received $6.8 million in revenue from BTL, and they recently expanded their fiber-to-the-home network with 14 new sites and their mobile network with 18 new sites. According to CEO Ivan Tesecum, the future direction for BTL is to target untapped areas in the new fiscal year.
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