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Volume: 121 No.93, April 5, 2024
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THE PEOPLE’S PAPER: PRICE–$1
PENSION SHAKE-UP OVER $3.5BN HOLE Taxpayer burden to rise 33 percent to $219m by 2030 By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
PENSIONS for thousands of Bahamian public sector workers are poised for a major shake-up in a bid to tackle “alarming” unfunded liabilities that could impose a $3.5bn burden on taxpayers come 2030. Simon Wilson, the Ministry of Finance’s financial
secretary, told Tribune Business last night that these pension liabilities represent “the top risk” to the stability of the Government’s finances and need to be “dealt with as soon as possible” to reduce the threat that taxpayers will increasingly be called upon to plug this multi-billion dollar hole.
FRAUD ISSUES BEHIND FINCO’S $500 ATM DAILY LIMIT
Visitors escape harm in vehicle fire
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net ROYAL Bank of Canada’s (RBC) BISX-listed mortgage financier has this week imposed $500 daily automated teller machine (ATM) withdrawal limits in a bid to better protect customers from fraud. In response to Tribune Business inquiries, the bank confirmed that the changes - which also involve the imposition of a maximum four “free” monthly ATM withdrawals per client will only impact FINCO (Finance Corporation of The Bahamas) clients.
FULL STORY - SEE BUSINESS
‘YOU CAN’T BE UNGRATEFUL’ OVER 25 CENT BUS FARE RISE By EARYEL BOWLEG Tribune Staff Reporter ebowleg@tribunemedia.net TRANSPORT and Energy Minister JoBeth Coleby-Davis told bus drivers at a hall meeting last night “you can’t be ungrateful” over the 25 cent rise in adult bus fares. Drivers and owners along with members of the public
attended last night’s town hall meeting to discuss the increase with stakeholders and the public - with a number of drivers saying the increase is insufficient for them to make a living. The minister said the meeting is a part of consultation and not the end for her presenting the case to
FULL STORY - SEE BUSINESS
A UTV driven by visitors suddenly caught fire on Duke Street yesterday forcing the passengers to quickly exit the vehicle. Fortunately for the family of seven no one was injured. See PAGE TWO for more. Photo: Lynaire Munnings
SEE PAGE THREE
GoFundMe seeks to help family after murder of former MP Saunders By LEANDRA ROLLE Tribune Chief Reporter lrolle@tribunemedia.net THE FAMILY of Don Saunders is seeking to raise over $300,000 to pay off his housing debts and support his grieving wife and teenage children. Saunders, a father of two, was murdered last Wednesday during an armed robbery of a business establishment in Gambier
FORMER MP Don Saunders Village. His unexpected
BPSU PROTESTS CONDITIONS AT REGISTRAR GENERAL OFFICE By LYNAIRE MUNNINGS Tribune Staff Reporter lmunnings@tribunemedia.net
has left the family in shock, but also grappling with how to pay off outstanding mortgage fees and other expenses. According to his foster father, Anglican Archdeacon Keith Cartwright, the former Tall Pines MP has a remaining mortgage balance of over $300,000 for an uninsured home and owes more than $35,000 in school
BAHAMAS Public Services Union president Kimsley Ferguson warned the government against harsh work conditions and delayed promotions for union members of the Office of the Registrar General, threatening to suspend services. Scores of employees of the Office of the Registrar General gathered outside
SEE PAGE FIVE
SEE PAGE THREE
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