Following the recent announcement that WRB Enterprise Inc. (WRB) intends to divest its interest in Grenada Electricity Services Ltd (GRENLEC), the Leader of Her Majesty’s Opposition, Dr. the Honourable Keith Mitchell, has written to the Prime Minister, extending his full support and encouragement for a government led share buy-back from WRB.
The Leader of Her Majesty’s Opposition urged the Prime Minister to engage the National Insurance Scheme (NIS), private sector organisations and the trade union movement to seek a solution to ensure the Government of Grenada successfully exercises its option to re-purchase WRB’s shares.
The Leader of Her Majesty’s Opposition stated that “the high cost of electricity in Grenada, Carriacou and Petite Martinique is stifling the economic and social development of our nation”, and that “I will do all that I can to support and facilitate this initiative.”
Grenada, Carriacou and Petite Martinique have one of the highest electricity rates in the Caribbean. A government led buy-back of WRB shares in GRENLEC will help ensure that future electricity generation policies are developed in the best interest of the nation as a whole.