fbpx
LPG importers hit back: Decision “historic”, but does it go far enough?
September 29, 2022
Crime Stoppers Belize asking for your help finding who murdered Norris Flowers
September 29, 2022

LPG case may set worrying precedent for business, attorney Audrey Matura-Shepherd argues

Butane prices rise 8 to 9 dollars per pound

Posted: Thursday, September 29, 2022. 1:46 pm CST.

By Aaron Humes: Having found that it was wrong to take away the business initiative of the LPG importers, attorney Audrey Matura-Shepherd says, the court could have gone further in redress to her clients.

On a public plane, one of the key promises made by the new National Gas Company Limited (NGC) – that prices would go down – has not been fulfilled, with prices on a steady rise.

Second, nothing appears to prevent a Government from intervening in an industry and setting regulations to favour a Government-owned entity.

One of the primary considerations of the amended law is the level of investment in a second LPG terminal which may take several decades to return on investment. NGCL, even with certain concessions made by the previous administration, estimates it will take 15 years to obtain a return on its investment, but an expert for the claimants argues that it may take even longer under more conservative conditions. It amounts to a continuation of the monopoly by both administrations.

Matura-Shepherd notes that her clients have never ever received tax concessions or other benefits for their industry.

 

Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Belize ~ We offer fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Belize and abroad! Contact us at mаrkеtіng@brеаkіngbеlіzеnеwѕ.соm or call us at 501-601-0315.

 

© 2022, BreakingBelizeNews.com. Content is copyrighted and requires written permission for reprinting in online or print media. Theft of content without permission/payment is punishable by law.

Comments

  • Galen University
  • Belmopan Aggregates
  • larry waight
  • Belmopan Aggregates
  • cahal pech village resort
  • Galen University
  • Shindaiwa
  • Belmopan Aggregates