The Bahamian authorities says it has “no intention of permitting Bahamas Energy & Mild” to impose an additional 5 US {dollars} on late-paying customers in a bid to scale back a US$100 million debt.
Talking on the weekly media briefing, the prime minister’s press secretary, Keishla Adderley, instructed reporters that the Bahamas authorities was making it clear that it could not permit BPL to impose the levy.
“There was a report circulating about the potential for a payment enhance on, or late payment implementation, regarding BPL payments. And the administration desires to make it very clear that BPL has no intention, or the administration has no intention, of permitting BPL to impose a 5 greenback late payment on customers.”
Adderley, stated that the late payment was amongst 5 proposals to scale back BPL’s US$100 million receivables arrears, owed by customers and companies, however the administration “isn’t minded so as to add any burdens to customers.
“Now the late payment proposal was amongst 5 proposals that had been put ahead as potentialities to try to scale back that $100 million. I feel it’s accounts receivable for the company. Now, contemplating the financial circumstances, the administration isn’t minded so as to add any burden to customers.”
In a press release, BPL additionally indicated that it had no plans to impose a late payment on customers.
“At a current Bahamas Institute of Chartered Accountants (BICA] presentation, BPL’s chief government, Shevonn Cambridge, shared with the physique quite a few methods to assist the corporate handle its appreciable arrears and, on the similar time, enhance the standard of service to its prospects.
“A late payment was mentioned as a viable choice to immediate well timed funds as it’s inscribed in BPL’s client safety plan and acquired regulatory approval greater than 4 years in the past. Nonetheless, it was by no means applied,” BPL stated.
The electrical energy firm stated that it could proceed to work with customers to make sure well timed funds.
“For readability, the late payment was a dialogue level and isn’t an instantaneous consideration for BPL. The corporate continues to work with its prospects to make sure well timed funds to satisfy its monetary obligations. On the similar time, BPL is firmly dedicated to implementing the most effective out there methods to make sure efficient administration in addition to enhance service to its prospects.”
However throughout his BICA presentation, Cambridge stated “whereas we proceed to encourage on time and constant funds from our prospects, we wrestle on this space as greater than 80 per cent of our prospects pay their payments late and BPL relies on constant and well timed funds to higher handle money movement and adequately fund initiatives.”
Cambridge stated BPL has already acquired regulatory approval to cost a late payment on overdue payments as a deterrent, and to offset the penalties imposed on BPL when it pays its collectors late on account of money movement points.
In the meantime, Adderley, stated the federal government is anxious with bettering BPL’s infrastructure and introducing new types of power to make sure service is extra dependable and inexpensive.
“What the administration is doing, so far as BPL is anxious, is bettering the infrastructure, ensuring that electrical energy service is extra dependable, introducing different types of power that can finally drive down the price of electrical energy for customers. That’s the trajectory. That isn’t modified, and a $5 late payment isn’t one thing that’s on the desk so far as BPL is anxious.”
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