But since Williams has left the department, his focus is now on improving the Ministry of Transport. And he explained that by mid 2026 we should see moves from the National Bus Company. And those who have signed up will either become stakeholders or cash out. He told us more about the options they presented to the bus operators.
Chester Williams, CEO, Ministry of Transport
"Our ministry continue to work on that. The minister is the point person on that. So he would speak on it more, but I will just go to the extent of saying a few things. We have gone through the auditing process, where all the operators who had agreed to be a part of the process to be audited, the auditors have completed the audit. We have brought in the operators individually, presented to them the audited report of the company. So they see what the company, what their company value is. Following that they are or they were given one of few options. Option one let's say hypothetically, the company is valued at $250,000. They can say, I don't want to do more with bus operations. I want to be out. So what will happen then is that they'll be paid off. And, whatever asset that they have as a part of their bus operation, then becomes the property of the national company, so they are paid off and they go about their business. Option two, they can say, okay, of the $250,000 my company value, I want 135,000 cash out and the other 125,000. I will invest in the company, the new company in buying shares. So they become a shareholder of the new company. Or option three they can have a hybrid and, they can say, okay, of a $250,000, that I have in the company. Now, option three would be they can say, of the $250,000, I have a the company I will invest all of that in into the new company. So take my entire $250,000 and use it. I will buy shares in the new company. So that's the third option. Majority of the operators who are audited agreed to continue to be a part of the new company. In other words, they chose either a hybrid option or other option where they take all their shares and all of the value and buy shares in the new company."
"Those operators who chose not to be a part of the company will be allowed, as we have said before, to continue to operate alongside the new company."
