CONSUMERS WILL NOT be exposed to profiteering at the pump with the Sol Group’s pending takeover of the state-owned Barbados National Terminal Company Limited (BNTCL). Neither will its competitors in fuel marketing and distribution be disadvantaged.
Those assurances have been given by parties involved in the January 3, 2017 sale agreement, and ahead of an upcoming review by regulator the Fair Trading Commission (FTC).
Further, the agreement effectively precludes the likelihood of other rival terminals, which it was felt would then have an adverse economic effect through a likely increase in pricing to consumers as the unit throughput rate per barrel of product would need to be increased. (AB)
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