On Monday, leader of the Peoples Democratic Movement (PDM), Derek Taylor, authorised an application to be made to the chief justice for leave to apply for a judicial review of the interim government’s decision to sell the remaining government shares in the Provo Water Company.
“We are troubled about the way this matter was handled. It is disturbing when the interim administration feels that a matter of such magnitude should not have been consulted on and we are of the opinion that all tenets of good governance relating to transparency and accountability should have been employed. We are not receptive of the idea of the interim administration ridding the people of assets especially when an elected government is soon to reclaim office and we are prepared to ensure that this matter is given the attention it deserves and as the matter progresses, we will keep the people of these Islands informed,” Taylor said in a press statement.
The government agreed on June 11 to sell its minority 46 percent shareholding in the Provo Water Company for $7.5 million to the majority shareholder, Turks and Caicos Water Company, citing its.determination that this minority shareholding is an idle asset and delivers no value to the taxpayer after 20 years of involvement. The government said it decided to convert the investment into cash to use to achieve infrastructure improvements elsewhere in TCI.