The Tribune

By SANCHESKA BROWN

Tribune Staff Reporter

sbrown@tribunemedia.net

FNM Deputy Leader Loretta Butler-Turner accused the government yesterday of using public funds to bail out a private company.

Mrs Butler-Turner was referring to the government’s plan to purchase the former City Markets head office and warehouse facility for $9 million dollars.

Shane Gibson, Minister of Labour and National Insurance, confirmed to The Tribune in an earlier interview that the National Insurance Board had been looking to acquire it to “assist” with the fund’s liquidation.

He denied, however, that the deal was proposed solely to “bail out” City Markets employee pension fund and the supermarket chain’s owners, the Finlayson family, who are major political supporters of the current government.

Speaking in the House of Assembly yesterday, Mrs Butler Turner said while she understands that former City Market employees should be paid what is owed them, the public’s money should not be used to bail out “friends, companions, lovers and supporters of the PLP.”

“We know the familiar ties with all these things. I just hope that that doesn’t allow anything to become clouded or distorted. So, Mr Speaker, I would like to know why these particular acquisitions are even under consideration. Should it not be put on hold until this whole debacle at NIB has been sorted out, because, Mr Speaker, it appears to me that we are now taking the government’s money,  NIB’s money, which is also a pension fund, it seems like we are taking that to bail out another pension fund from the private sector. That is the point I am trying to make. We cannot use the people’s public pension to bail out a private pension fund, that is the point I wish to make,” she said.

“The Bahamian people fully understand exactly what I am saying. It appears, Mr Speaker, that the pension fund of the Bahamian people that is deposited in NIB is being used to bail out friends, companions, lovers and PLP supporters in a private entity. I have no difficulty with those people being satisfied, but you cannot go and bail out people who have misused and misappropriated funds and try to make good with the public.” 

In response to the allegation, Mr Gibson said Mrs Butler Turner is giving the public the wrong impression.

“I  think,” he said, “it is wrong  for the member to give the impression, Mr Speaker, that the government or NIB is trying to bail out anybody. There is a need for warehouse space, the building is available and we did an appraisal and if depending on the condition of the building or whether or not we can get it at a good price and not at a regular price, we will determine whether or not we will make an offer to the owners to purchase the building.”

According to sources, the former City Markets headquarters are effectively unusable, and need to be demolished. The floor, which is laid over water tanks, is said to be collapsing, with a new roof also needed as the 28-year-old building starts to show its age.