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TOLCO List does not include Premier, no names will be published says DP

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Dana Malcolm 

Staff Writer 

 

#TurksandCaicos, September 26, 2023 – Following the massive $10 million debt forgiveness of 176 loans given under a now dismantled TC Invest, some residents are demanding to know who exactly benefitted from the write-offs, but E Jay Sanders, Finance Minister says to do that would be ‘completely irresponsible.’

Residents reached out to Magnetic Media with reactions ranging from concern to outright suspicion at the write-off applied to mortgage debts, stemming from decades-old TCInvest loans.

Embroiled in controversy, the Government-funded investment company was closed in 2012 under the interim British Administration and a new collection agency was established to recoup the millions of dollars in outstanding funds from loans paid out through the company’s tenure.

The non-performing loans under TC Invest were sold to TOLCO for $0.00 under the then-PNP administration.  Over the years, TOLCO and then TCIG failed to recoup any significant percentage of the sums owed, despite numerous write-offs.  In the end, both decided to cancel the debt altogether.

The announcement about the debt cancellation was made in Parliament on September 14; and while there was praise for the move which was touted as a ‘blessing to TCI families’ there also rose suspicion and a call for transparency. 

Many took to social media, questioning who exactly will be feeling relief and want a list to be published by the Government, detailing the write-off.

Saunders said this was not possible for several reasons including the fact that it would mean publishing resident’s personal financial information.

“We cannot put people’s information out there who didn’t necessarily ask for a write-off.”

The decision was a gift due to the futile efforts to  collect on the aging debt.

The deputy premier, to Magnetic Media, stressed that there were checks and balances in place from the Integrity Commission to auditors to validate the process.

Additionally, the Finance Minister maintained that decisions made in Cabinet were policy-based, not discretionary, ensuring government officials could not pick and choose who benefited from a particular write-off or other policy, based on their own discretion. Once decided on, the policy should benefit all eligible individuals.

He did clear up one rumor from those he described as mischief makers, he said the Premier is not included in that list.

Now, residents are also querying whether other loan holders outside of the TC invest/TOLCO bracket will get similar relief.

Edwin Astwood, Opposition Leader, and Alvin Garland, Opposition Appointed Member spoke on that in the House of Assembly.

“I am happy for these people but all my member is saying is let’s look at something for the other people. Other people in the Turks and Caicos are suffering too. Let’s look at some sort of economic relief– be creative,” said Astwood.

The bill passed with bipartisan support.

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PUBLIC NOTICE: Important Border Force Compliance Reminder for Pleasure Craft Operators

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PUBLIC NOTICE

FROM THE TURKS AND CAICOS ISLANDS BORDER FORCE

 

 

The Turks and Caicos Islands (TCI) Border Force informs the yachting community and marina operators of a new requirement for using the SailClear platform. Effective 1 May 2024, the Caribbean Customs Law Enforcement Council (CCLEC) implemented a $25 annual subscription fee for SailClear users. This fee allows unlimited application submissions, helps improve service quality, and expands SailClear’s capabilities.

SailClear, introduced by the TCI Customs Department in February 2023, provides a secure and efficient platform for submitting electronic customs declarations. The annual subscription ensures continued investment in maintaining rigorous service standards including system reliability and efficient processing of notifications implement upgrades and to expand the services to additional maritime jurisdictions.

Pleasure craft operators are reminded that electronic pre-arrival and pre-departure notifications via SailClear are mandatory. The master of a vessel must electronically submit a Sailclear notification to Border Force at least 24 hours prior to the vessel’s estimated time of arrival at a port. Additionally, before departing, the master must submit a Sailclear clearance notification to Border Force at least 24 hours prior to the estimated departure time.

Failure to comply with these requirements constitutes an offence under the Customs Ordinance. Those found guilty of this offence will be subjected to a fine of $5000.

Important Reminder for Yacht and Watercraft Owners:

  • Non-Registered Users: SailClear use is enforceable under section 5 of the Customs (Pleasure Craft) (Amendment) Direction 2022 (Legal Notice 82 of 2022). For those not yet subscribed to SailClear, visit sailclear.com and click “Subscribe Here” to follow the registration process.
  • Pre-Arrival and Pre-Departure Notifications: All pleasure craft owners arriving or departing the Turks and Caicos Islands must submit pre-arrival/departure notifications to Border Force through SailClear. Failure to submit electronic notifications via SailClear constitutes an offense under the Customs Ordinance.
  • For Inquiries: Contact support@cclec.org for further information or assistance.

This update ensures the continued efficiency and reliability of the SailClear platform, allowing for a seamless customs clearance experience for the yachting community in the Turks and Caicos Islands.

For all media enquiries, please contact:

Carlencia Lightbourne

Public Relations and Communications Officer

crilightbourne@gov.tc

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Caribbean News

NHT REMINDS CONTRIBUTORS TO APPLY FOR SPECIAL MORATORIUM BY SEPT. 30

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KINGSTON, September 18 (JIS): National Housing Trust (NHT) contributors and mortgagors affected by Hurricane Beryl are being reminded to apply for the organisation’s post-hurricane peril moratorium by September 30.

Assistant General Manager of Corporate Communications and Public Affairs, Dwayne Berbick, told JIS News that the newly introduced initiative is designed to offer financial relief to those who experience property damage or economic hardship as a result of natural disasters.

Under this arrangement, eligible individuals can temporarily suspend their monthly mortgage payments, which is crucial support during the recovery process.

The duration of the moratorium is tailored to individual circumstances, with a maximum period of up to six months.

“We understand that life happens, and circumstances of individuals may change from time to time. The NHT has made special resources available for individuals who are making applications for any of our [relief] initiatives. We are looking out for them, and we will expedite the applications to ensure that the process goes as quickly and smoothly as possible,” Mr. Berbick said.

The NHT’s special mortgage moratorium is accessible to all affected parties, including those who have previously benefited from other NHT Loan facilities.

Mr. Berbick underscored that this inclusive approach will ensure that everyone who needs assistance can receive it.

Applicants are required to complete an application form and submit a valid government-issued identification and Tax Registration Number, along with additional documents where applicable. These include photographs of property damage, proof of reduced income, or proof of unemployment.

Mr. Berbick is urging all eligible individuals to act promptly to secure the support they need.

The post-hurricane peril moratorium forms part of the NHT’s wider strategy to provide relief and support to contributors and mortgagors during challenging times. Other initiatives include the Special Home Improvement Loan and Disaster Grant.

For more information on how to apply for this or other relief options, persons can visit the nearest NHT office or the entity’s website at www.nht.gov.jm.

 

CONTACT: ROCHEDA BARTLEY

PHOTO CAPTION: Assistant General Manager of Corporate Communications and Public Affairs at the National Housing Trust, Dwayne Berbick.

 

Photo: Adrian Walker

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Caribbean News

Nevis Junior Minister of Tourism Triumphs at CTO’s Youth Congress

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Keyana Warner is congratulated by Dona Regis-Prosper, Secretary-General & CEO of CTO, while Emile Hamilton of Tropical Shipping (left) and Ed Limon of Winged Whale Media look on.

CTO Secretary-General Dona Regis-Prosper sits with the top three contestants (l-r), Khari Gonsalves of St. Kitts, Keyana Warner of Nevis, and Anthurium Lewis of Tobago, while other youth congress participants look on.

GRAND CAYMAN, Cayman Islands  – Keyana Warner, the Junior Minister of Tourism from Nevis, has been crowned the winner of the 20th Caribbean Tourism Organization (CTO) Tropical Shipping Regional Tourism Youth Congress. Warner, a student from Charlestown Secondary School, secured the victory following an outstanding presentation on Thursday at The Westin Grand Cayman Seven Mile Beach Resort & Spa.

The Congress, a highlight of the CTO State of the Tourism Industry Conference (SOTIC) and held under the theme “Caribbean Tourism: Through the Eyes of Tomorrow”, featured 12 talented young tourism advocates from across the Caribbean. These young minds shared their innovative ideas and passion for the future of the region’s tourism industry, exploring topics such as adventure tourism, solo travel, collaboration across cultures, and the blue economy.

Anthurium Lewis of Bishop’s High School in Tobago claimed second place, while Khari Gonsalves of Basseterre High School in St. Kitts secured third place.

“The Congress, along with the activities leading up to this event, plays a crucial role in introducing the next generation to the significant impact tourism has on our region,” said Master of Ceremonies Sharon Banfield-Bovell, CTO’s Director of Resource Mobilization and Development. “It is not just a competition; it is a gateway to nurturing the next generation of tourism advocates and innovators who will shape the future of the Caribbean tourism industry.”

The week leading up to the Congress saw the junior ministers of tourism engage in several workshops, including a VR/AR masterclass facilitated by Ed and Claudia Limon, and a workshop exploring Cruise Tourism Awareness and Careers in the Cruise Sector facilitated by Beth Hatt of Aquila Center for Cruise Excellence.

udges for the Congress Colin James, CEO of the Antigua and Barbuda Tourism Authority; Aquila’s Beth Hatt; and Vanessa Ledesma, Acting CEO and Director General of the Caribbean Hotel and Tourism Association, are all smiles in the Cayman Islands.

The 2024 Regional Tourism Youth Congress received generous support from the Government of the Cayman Islands, title sponsor Tropical Shipping, Carnival Corporation & plc in partnership with Acordis International Corp, Winged Whale Media, and Breeze Travel Solutions. This event provided a valuable platform for young people to connect with industry professionals, gain experience, and develop leadership skills.

The Congress was chaired by last year’s winner, Naomi Onwufuju of the British Virgin Islands.

Judges for the Congress were Aquila’s Beth Hatt; Colin James, CEO of the Antigua and Barbuda Tourism Authority; and Vanessa Ledesma, Acting CEO and Director General of the Caribbean Hotel and Tourism Association.

Participating countries included Bahamas, Barbados, British Virgin Islands, Cayman Islands, Jamaica, Nevis, St. Eustatius, St. Kitts, St. Lucia, St. Vincent and the Grenadines, Tobago, and Turks and Caicos Islands.

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