Bridgetown.
The Government of Barbados will not sell the debt ridden Caribbean Broadcasting Corporation (CBC,) this was revealed by Prime Minister Freundel Stuart in the House of Assembly last night.
Speaking during a debate in the House of Assembly on a resolution to approve a $40.6 million lifeline for CBC, Stuart said :"CBC is not,at this stage going to be privatized, those who wanted to do it had 14 years to do so and did not do it".
"Let the word go forth the Democratic Labour Party (DLP) established CBC as a state owned station.The DLP Govenment will keep CBC as a state owned station",Stuart added to loud thumping on the Government bench.
Stuart said when his party left office in 1994. CBC's accumulated deficit was $18,270 991 and by the end of 2007 it had quadrupled under the Barbados Labour Government to $76 355 067.
The resolution was passed in the House of Assembly last night, it approves a guarantee by the Minister of Finance of the payment of the loan, which is to be borrowed from the Bank of Nova Scotia.
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