Prime Minister Gaston Browne today addressed the government’s dividend policy, emphasizing that it exclusively applies to profitable, government-owned trading entities engaged in business transactions with private individuals and entities.
The policy, however, excludes Social Security, Medical Benefits, and Education Levy, ensuring the stability of essential public services.
The entities covered by the dividend policy include, but are not limited to, the Antigua Public Utilities Authority (APUA), Antigua and Barbuda Airports Authority (ABAA), Antigua Public Authority (APA), State Insurance Corporation (SIC), Antigua and Barbuda Air and Sea Ports Authority (ADOMS), and the Transport Board.
One notable aspect of the policy is that when these entities provide services to the government, such as insurance and utility services, any dividends due to the government will be offset against amounts owed by the government.
This strategic measure aims to maintain a balanced financial relationship between the government and these vital service providers.
The calculation of the 50 percent dividend owed to the government will be based on profits or surplus cash flow after meeting debt servicing and similar financial obligations. This meticulous approach ensures that the government receives a fair share of profits while allowing the trading entities to sustain their operations and contribute to economic growth.
Importantly, the remaining profits or surplus will be retained by the entity, strengthening its financial position and fostering long-term stability.
This approach acknowledges the need for these trading entities to reinvest in their operations, infrastructure, and future growth initiatives, ultimately benefiting both the entities and the nation.
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🎤🎶”He’s Just Slip Slidin’ Away
🎶”He’s Just Ah Slip Sliding Away
🎶”Gaston mentions 50%, but it may as well be 200%
🎶”He Just Ah Slip Sliding Away …”
🎤Wheeeeeel, rewind an’ come again
Nothing but double talk, deception and backpedaling!!! What a sham.
“The calculation of the 50 percent dividend owed to the government will be based on profits or surplus cash flow after meeting debt servicing and similar financial obligations. This meticulous approach ensures that the government receives a fair share of profits while allowing the trading entities to sustain their operations and contribute to economic growth”.
“Importantly, the remaining profits or surplus will be retained by the entity, strengthening its financial position and fostering long-term stability”.
Look a trupitness ya.
So if the treasury gets 50% and ‘the remaining profits or surplus will be retained by the entity, strengthening is financial position and fostering long-term stability’, where does that leave N.A.M.C.O.?
circus was in town.. what does NAMCO have to do with statutory corps? Are you ignorant that Namco holds shares in private companies where government had an equity stake? NAMCO is a holding company owned by GOAB
This guy has a classic case of mythomania; he lies so very easily. He has finally gotten on par with the Chief of Staff and I’m noticing that trend with their supporters.
Very creative & strategic indeed! Keep it up PM Browne… A leader without a vision surely a nation or the people will perish… Under the UPP administration this nation was perishing. Under the Gaston Browne’s administration this nation is seeing the bright horizon
So @ Bluddy Bloke, if the “nation” was “perishing” under the 12-13 of the UPP’S administration; what would you call the 40-odd years of underdevelopment under Birdism and Browneism?
Here’s THREE words that come to mind under the wasted tutelage of the ABLP Bluddy:
DIRE, DETRIMENTAL AND DEVASTATING!
You Gastonites still cannot do maths very well…
Bwoi, if I was given a dollar every time I’ve had to remind the ABLP acolytes of the 40 years of Birdism and Browneism on ANR threads, I would be as wealthy as Gassssston 🤣🤣🤣🤣
@Bloody Bloke. And, StKitts, St Lucia, Barbados and the other Carribbean countries are perishing. Oh, if they only had a PM like Gaston.
This is what you get when an economic dunce is in charge of the country’s finances. What a joker!
He wants his greedy hands where ever he can squeeze money from the public purse.
This clown HAS to be removed forthwith. Pringle, now’s the time for the vote of no confidence. Include the Thousand Watt Bulb while you’re at it. Let’s see if we can kill two “Birds” with one stone.
Gaston is not that people are hating your approach to governance, it is because you have been chatting for a long time about economic powerhouse and people are fed up because they are seeing little to no manifestation of it.
This policy I can understand and to be fair it makes sense but the reality is, government now and before waste/give away a lot of monies whether it may be due to corruption, lofty allowances given to ministers and senators, government failing to properly maintain their properties thereby costing the nation more in the long run to repair/rent private building etc.
I really hope this policy will accordingly in the best interest for our nation, given that there are instances where governments have mismanaged public funds and there is an apparent deliberation of not publishing public accounts.
It seems to me this administration want people who will bow to them or their sheeps who they put as Directors over some of these organizations.
Gaston the nation demands better.
Yes government should always stay in the loop when it comes to its expenditures, but the question that many of us have, is what would you do with all this money?
That’s the million dollar question. It’s not that billions doesn’t come into Antigua, especially at the 2 ports, air and land, it’s where the money has been spent, because we have not seen it.
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