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Monday, December 29, 2025
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Pintard: Family Island economies hurt by ‘rushed’, ‘poorly thought out’ boating fees By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net OPPOSITION Leader Michael Pintard said the economic damage from recent boating and yachting fee increases has already been done, warning that charter can operators, and Family Island communities had all warned the government that the fee increases would drive boats away, empty marinas, and cost Bahamians jobs and income. Mr Pintard argued that despite these warnings, the government ignored industry feedback, leading to mounting charter cancellations and reduced maritime activity this season. “Local businesses including cleaning companies, car rentals, boat engineers, captains, brookers, pilots, and restaurants have all suffered from this policy. Despite this, the PLP ignored every warning,” said Mr Pintard
• Moves to revisit fee structure ‘too late to prevent economic fallout’
MICHAEL PINTARD “Today, charter cancellations are mounting, marina traffic has dropped sharply, and millions of dollars that would have been spent in Family Island communities have now gone elsewhere. This could have been avoided. It was the direct
result of bad policy and bad process.” Mr Pintard also framed the boating fee issue as part of a wider pattern of what he described as “ill-conceived policies” by the current administration. He cited previous examples, including fishermen’s
boat registration fees, NIB contribution increases, and no-bid contracts, saying that in each case the government announced changes, dismissed public concerns, and then reversed course only after public backlash. “Failed deals quietly abandoned once exposed. Each flip-flop costs the country credibility, confidence, and economic stability,” said Mr Pintard. “Leadership is not governing by trial and error. Leadership is listening before decisions are made, not after livelihoods are damaged.” Looking ahead, Pintard vowed that under an FNM government, the boat fees imposed on Bahamian owners would be revised and the 10 percent yacht charter tax would be removed to make The Bahamas more competitive in the maritime tourism sector. He also outlined plans to improve technology and service platforms for
DAMAGE - See Page B2
Central Bank targets 120,000 users for start of Fast Payment System By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE Central Bank of The Bahamas is planning to launch its Fast Payment System (FPS) pilot in December 2026, aiming to reach around 120,000 users — roughly 30 percent of the adult population — in its initial phase. The FPS is designed to modernise the country’s payment infrastructure, enabling faster, more convenient transactions for both individuals and businesses. According to the Bank’s vendor Q&A document,
seven commercial banks and six additional financial institutions are expected to participate in the pilot. However, not all participants may be fully ready by the target date, meaning the rollout could be phased as institutions come online. Over the longer term, the FPS is expected to expand to at least 350,000 users, with e-money transactions projected to grow steadily. Initially, each user is expected to conduct about six transactions per year, rising gradually to nearly 11 transactions per user by 2030.
LAUNCH - See Page B3
ATC training suspended amid call for director to be removed BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net A LACK of succession planning has led to the halt of training and a call for the director of Air Traffic Control to be removed- a request still awaiting a response by the Bahamas Air Traffic Controllers’ Union (BATCU) president. Having sent a petition to the deputy prime minister, Chester Cooper, the prime minister Philip Davis, and chairperson of the board for the Bahamas Civil Aviation Authority (BCAA) Wendy Craigg, (BATCU) president, Hinsey McKenzie said its current director Lenn King refuses to promote a person within the
department who Mr Mackenzie said has completed and passed training. “I just sent a petition out last week or week before last to remove the director,” he said. “I haven't heard anybody say anything to me. I was trying to reach the DPM. He hasn't or respond yet. I sent one to the DPM, because he's the minister in charge, one to the chairman, one to the Prime Minister, same petition. “Mr King has created some issues. Right now we're having some issues where there's somebody who's up for promotion Mr King, the director, has refused to promote the person. What he is saying is the process that the person
PETITION - See Page B3
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Govt deficit surges sixfold to $61.9m in September By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE Bahamian government’s deficit surged nearly sixfold from $10.2 m in August to $61.9 m in September, driven by higher spending early in the fiscal year. The Ministry of Finance, unveiling the monthly fiscal report for September 2025, disclosed that the month’s deficit — measuring by how much government spending exceeds its revenue income — rose to $61.9 m, a 1.5 percent increase from the prior year’s $61.0 m. The report shows that the wider deficit in September was largely driven by higher recurrent expenditure. According to the Ministry of Finance, “other payments nearly doubled by $21.4 m (93.6 percent) … primarily on account of payments related to employee insurance premiums,” while personal emoluments — the wages and salaries of public-sector
workers — also rose by 5.2 percent to $74.1 m. Subsidies grew by $11.8 m to support entities such as the Water and Sewage Corporation, the University of the Bahamas, and the Public Hospitals Authority. Tax revenue rose $31.3 m to $199.0 m in September, representing an 18.7 percent increase from the same month last year. The growth was driven largely by a $25.0 m increase in VAT collections, which totaled $110.3 m due to “enhanced compliance and enforcement measures,” while other tax categories, including income and import duties, also contributed. Non-tax revenues, such as fees and charges for government services, added $54.3 m to total collections. The Ministry of Finance’s public debt bulletin for the 2025-2026 fiscal year’s first quarter indicated that a relatively large deficit was incurred in September given the gap between the $79.3m deficit for the
SURGE - See Page B2