The Prime Minister and Minister of Finance, the Hon. Philip Davis spoke specifically to issues involving the Grand Bahama Port Authority in his budget communication delivered in the House of Assembly on Wednesday.

He said, “the government of The Bahamas has serious concerns regarding the Port Authority and its related companies with the terms and conditions of the Hawksbill Creek Act and its subsequent amendments.”

Davis further explained, “the statistics show a prolonged decline in the Grand Bahamian economy. The evidence confirms the view of my government that the Hawksbill Creek Agreement economic model which was meant to attract foreign direct investment does not work.”

Recently in response to comments made by former parliamentarian Fred McAlpine, Grand Bahama Port Authority (GBPA) President Ian Rolle said the GBPA has over one billion dollars worth of transactions either underway or in the pipeline.

Prime Minister Davis said in due course an announcement will be made concerning this issue.