For the 7th day running, the bulk of BTL's employees again sat out of work today as the company remains shuttered and under the guard of police and BDF personnel. CEO Gaspar Aguilar today announced that the company will begin gradually returning to normal operations. Today that meant opening 6 select offices countrywide where there is no vital equipment. With that the technical hubs of BTL, which are the Esquivel Telecom Centre on St. Thomas Street and the Belmopan station remained closed.
And while that is what's happening on one front the word went out this morning that BTL employees weren't going to be getting paid and the problem is that the country's most profitable company has got no money. Well the money part is true, technically at least. A late evening release from BTL says that the company over-ran its overdraft and is making, "all efforts" to meet payday which is tomorrow. The last time we checked BTL's overdraft was $10 million and it's just under that right now. The statement says that the cash flow problem was created because offices have been closed which means no money was made to cover the overdraft.
