Simon Potter
Rachel Scott
The Nassau Guardian
The Bahamas Petroleum Company (BPC), which began drilling an exploratory oil well in Bahamian waters last month, on Saturday praised a recent announcement by Prime Minister Dr. Hubert Minnis that his government will fast track the implementation of a sovereign wealth fund.
BPC said it was “delighted” to note Minnis’ statement of his government’s intention to implement a sovereign wealth fund “in line with similar funds maintained by countries, so to enable accumulation of wealth for the national benefit from natural resources”.
BPC CEO Simon Potter said: “The many natural resources in The Bahamas, including its potential oil resource, have the capacity to add an entirely new income stream to the government of The Bahamas, thereby diversifying the economy and significantly broadening the government’s revenue base.
“We are thus delighted with Prime Minister Minnis’ statements today indicating how the sovereign wealth fund will be brought to life.” Read more >>