Browne Reflects on Success of WIOC Purchase, Points to $150m Revenue Gain
Prime Minister Gaston Browne has hailed the government’s 2015 purchase of the West Indies Oil Company (WIOC), noting that it has contributed over $150 million in revenue through taxes and dividends.
The company, now one of the largest and most profitable entities on the Eastern Caribbean Stock Exchange, has proven to be a major asset for Antigua and Barbuda. Browne also shared that a portion of the company’s shares was made available to local citizens, allowing them to share in its success.
Describing the acquisition as a “remarkable success,” Browne emphasized how the government transitioned from being a “bad debtor” to owning WIOC without incurring debt or utilizing treasury funds.
“Despite concerns over corruption, we executed this process without any wrongdoing,” he asserted.
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I think all Antiguans agree that such a decision was in the best interest of the country
When the history books come to be written, the story will be told about Gaston Browne’s bold and decicive action in the WIOC deal
Why are gas prices still so high
Gregory and the team much congratulations.
West Indies oil is doing so well why do I only get two hundred and thirty something dollars every year as a share holder with 50 shares, it will take several years to make back the over four thousand dollars in invested doesn’t seems like a good investment to me, a box hand gives me five thousand and more every year
Mr. Editor,
I want to Thank the P M for stating the following: “I did not benefit in any way from this deal ……” Is the P M saying he has benefited from OTHER Deals …. But Not THIS Deal???
Why is such a Statement necessary from the P M? Mmmmmmh
well we know for sure who benefitted from the JOHN ASHE deal!
KICKBACKS, GREED, BRIBERY, CORRUPTION and PLENTY MONEY>>>>>>UPP Style
WIOC purchase did not benefit Antiguans, it drove up the cost of engine oil and other basic necessity for automobiles, we had a free market before that where competitive market of goods like cheaper oil and other items was available but now the market is dictated by government protectionism of WIOC to dictate and as it like with the market. Free market please, this is killing our pocket, I knew we the black people will never own such, it’s been purchased and monetized to bring high shares pay outs to unknown entity and corrupt politicians.