NASSAU, Bahamas, CMC – The Bahamas authorities says it has “no intention of permitting Bahamas Energy & Mild” to impose an additional 5 US {dollars} on late-paying customers to scale back a US$100 million debt.
Talking on the weekly media briefing, the Prime Minister’s press secretary, Keishla Adderley, advised reporters that the Bahamas authorities was making it clear that it could not enable BPL to impose the levy.
“There was a report circulating about the potential for a charge improve on, or late charge implementation, regarding BPL payments. And the administration desires to make clear that BPL has no intention, or the administration has no intention, of permitting BPL to impose a 5 greenback late charge on customers.”
Adderley stated the late charge was amongst 5 proposals to scale back BPL’s US$100 million receivables arrears owed by customers and companies. Nonetheless, the administration “doesn’t thoughts including any burdens to customers.
“Now, the late charge proposal was amongst 5 proposals put ahead as potentialities to try to scale back that $100 million. I believe it’s accounts receivable for the company. Contemplating the financial circumstances, the administration is just not 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 charge on customers.
“At a current Bahamas Institute of Chartered Accountants (BICA] presentation, BPL’s chief govt, 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 clients.
“A late charge 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 carried out,” BPL stated.
The electrical energy firm stated that the lit would proceed to work with customers to make sure well timed funds.
“For readability, the late charge was a dialogue level and isn’t a direct consideration for BPL. The corporate continues to work with its clients to make sure well timed funds to fulfill its monetary obligations. On the similar time, BPL is firmly dedicated to implementing one of the best out there methods to make sure efficient administration and enhance customer support.”
However throughout his BICA presentation, Cambridge stated, “Whereas we proceed to encourage on-time and constant funds from our clients, we wrestle on this space as greater than 80 % of our clients pay their payments late, and BPL depends upon constant and well timed funds to handle money circulation higher and adequately fund initiatives.”
Cambridge stated BPL has already acquired regulatory approval to cost a late charge on overdue payments as a deterrent and to offset the penalties imposed on BPL when it pays its collectors late because of money circulation points.
In the meantime, Adderley stated the federal government is worried with enhancing BPL’s infrastructure and introducing new types of vitality to make sure service is extra dependable and inexpensive.
“What the administration is doing, so far as BPL is worried, is enhancing the infrastructure, ensuring that electrical energy service is extra dependable, introducing different types of vitality that can in the end drive down the price of electrical energy for customers. That’s the trajectory. That’s not modified, and a $5 late charge is just not on the desk so far as BPL is worried.”
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