Screen_Shot_2015-04-16_at_8.04.37_PMThe controversial Petro Caribe Loans Act is back in the news tonight and this is after the Belize Chamber of Commerce issued a release this afternoon stating their stance on the issue at the same time calling for accountability and transparency.  After careful review of the Alba Petro Caribe Bill the Chamber has taken the position that the bill undermines the spirit and intent of the revised Finance and Audit Act of 2005.

The Chamber believes that this new Act undermines and effectively reverses all efforts made by the Chamber and the unions in 2005 toward greater accountability and transparency in the handling of public funds.

According to the Belize Chamber of Commerce transparency and accountability should be given greater prominence by the Government of Belize particularly due to the absence of a fully functional Public Accounts Committee to report on Government Expenditure. And, according to the chamber, it is for this reason that the organization endorses the Business Sector Senator’s

vote against the Petro Caribe Act in the Senate.

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