business@tribunemedia.net
Friday, March 27, 2026
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FNM signals new hospital end but fears ‘poison pill’ BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Opposition’s chairman yesterday strongly signalled that the Free National Movement (FNM) will not proceed with the $268m project for a second New Providence hospital if it wins the upcoming general election - provided the Chinese financing deal contains no “poison pill”. Dr Duane Sands, the ex-health minister who is the FNM’s Bamboo Town candidate, reiterated to Tribune Business his party’s view that the proposed Perpall Tract healthcare facility is a “white elephant” and that the Bahamian people would receive better value for money from public healthcare improvements by upgrading the existing Princess Margaret Hospital (PMH) site.
Chair brands Perpall Tract plan ‘hare brained’ and ‘white elephant’ Affirms party would return to PMH improvement strategy if re-elected But China deal appears to contain ‘locked in’ provision that it fears Arguing that the Davis administration has provided “no good reason” for “deviating” from long-standing plans for PMH’s enhancement, which had been in progress under successive Progressive Liberal Party (PLP) and FNM governments, he branded the new hospital a “hare-brained scheme” that was rejected by all healthcare stakeholders, including Bahamian doctors and nurses.
However, voicing concern that the “devil is in the details”, Dr Sands told this newspaper that he and the FNM fear the Government will have inserted a “poison pill” into both the $195m financing deal with the China Export-Import Bank - plus the new hospital’s construction contract with China Railway Construction Corporation - that would make it impossible for a Michael Pintard-led administration to exit the deal
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Planning backs $200m Rosewood Exuma on its ‘low-density model’ Regulator gives ‘preliminary support’ for project’s site plan
DR DUANE SANDS
without incurring significant penalties and exposure for Bahamian taxpayers. The FNM chairman’s concerns may be well-founded, because clause 5.5 of the December 30, 2025, loan agreement signed between the Government and China Export-Import Bank appears to commit The Bahamas to not withdrawing from either the loan or the hospital project itself. “The borrower [the Government] shall ensure and hereby undertake that the commercial contract shall not be terminated or cancelled,” this part of the agreement states. The Opposition, in launching its general election campaign last Saturday, was careful to avoid mentioning the second New Providence hospital project in a three-page release
HEALTHCARE - See Page B4
Bus fare rise ‘necessity’ as costs up 400% before war BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net JITNEY owners yesterday said an adult fare increase is a “necessity” regardless of the Middle East conflict’s impact on fuel prices because industry margins have already been squeezed by up to “400 percent” post-COVID cost increases, with one asserting: “We are surviving but that’s about it.” Harrison Moxey, president of the United Public Transportation Company (UPTC), which represents owners and operators, told Tribune Business that the price and
government-controlled fares need to be raised to “at least” $2 for adult passengers - a 33 percent increase on the present $1.50 - for the industry to be sustainable given that it was facing post-pandemic cost pressures even before the US and Israeli assault on Iran. Besides fuel, he confirmed that parts, insurance and maintenance costs for jitney owners and drivers have increased significantly, while a range of government-related fees have also risen, as he warned: “The struggle is real.” Mr Moxey told this newspaper of an adult fare increase: “Certainly, I think it’s warranted now even without that
Licensees fear ‘no lower costs’ in GB Power deal BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net GRAND Bahama Port Authority (GBPA) licensees yesterday called for full disclosure and transparency from the Government over its proposed $280m acquisition of the island’s power provider as they voiced fears the deal will not result in “improved performance or lower energy costs”. The Freeport Licensees Association (FLA), in a statement expressing concerns voiced by the Grand Bahama Chamber of Commerce’s president and others in the private sector, as well as the Opposition, called on the Davis administration
to both fully lay-out the commercial rationale for acquiring Grand Bahama Power Company from Emera and plans for the utility moving forward, as well as fully consult with all stakeholders on the island. It added that the only benefit touted by the Government to-date is lower energy costs for both Grand Bahama businesses and residents, with Jobeth Coleby-Davis, minister of energy and transport, telling the House of Assembly on Wednesday that GB Power would be “transitioned” to Bahamas Power & Light’s (BPL) base tariff rates which are between 45-47
AN Exuma-based bar operator yesterday accused the Government of “going overboard” with its new liquor regulatory regime that has forced him to invest in $3,000 worth of renovations. Andrew Smith, who owns a laundromat with a built-in bar, told Tribune Business he has been told to build a wall to separate the two businesses to bring him into compliance with the new
“Profit margins have contracted,” Mr Moxey added. “We can make a living, but the headwind is hard and the struggle is real. We are surviving, that’s about it. Not enough has been invested to improve the industry structure, which could ultimately increase rider-ship, safety and security; those types of issues. “There’s a lot more to be done outside of fuel and fare increases, and these should not just be considered when something happens.” Adults presently pay a $1.50, with seniors and students at $1.25.
TRANSPORT - See Page B2
Leaves Yntegra’s key opponents ‘appalled’ and ‘shocked’ Dredging scale ‘limited’, but sets 10 conditions for full nod BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE $200m Rosewood Exuma developer yesterday hailed the “renewed momentum” created by the planning authorities’ backing and findings that it “represents a low-density resort model appropriate” for Big Sampson Cay - leaving its opponents “appalled” and “shocked”. The Town Planning Committee, in a March, 25, 2026, letter to Robert Adams KC, the Delaney Partners attorney representing Miami-based Yntegra Group, said that the “scale of proposed dredging and associated works” - a key concern cited by those objecting to the resort development in its current form - is “limited” and can be further mitigated by existing regulations and controls. It revealed that, at its meeting the previous day, the Committee had agreed to grant the Rosewood Exuma project “preliminary support of application” for its bid to obtain site plan approval from the planning authorities. And the letter also described the development as having adopted a “dispersed” build-out plan that will “maintain the natural character” of Big Sampson Cay. Reassuring that it had accounted for all public feedback provided at two Exuma Town
APPLICATION - See Page B4
BIG SAMPSON CAY
, x a l e R we’ve u o y t o g ! d e r e cov
ACQUISITION - See Page B7
Laundry-bar owner: Gov’t oversight ‘going overboard’ BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net
[the Middle East conflict]. It ain’t something we are proposing to them based on what’s happening during this war. We are needing it now. I think it’s a necessity for us now ever since COVID. “Post-COVID, nothing has gone down. Everything went up - in some cases, by 400 percent - and nothing has gone back down. We are still feeling the pressure.. costs on parts, costs on insurance have increased, and the Government has gone up on a lot of their fees. These things, we feel them directly in the pocket and feel them right away.
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certification and registration regime. As a result, he said he is now no longer permitted to have a bar in his laundromat. Having already begun a separate expansion project, the temporary wall he must now build to separate the liquor store from the laundromat has cost Mr Smith about $3,000 more. “I have a little, small, unique business, and I honestly don't think that you're going to see it any place else in The Bahamas,” he said.
REGULATE - See Page B5
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