The Government of Montserrat (GoM) has taken a decision to implement several measures to provide significant support to the Montserrat Utilities Limited (MUL) in an effort to alleviate financial problems confronting the company.
The Government’s intervention was agreed to in Cabinet, and includes the provision of additional technical engineering support, capital support, and technical financial support through the payment of an additional Engineer for the MUL.
Additionally, the Government today (December 18, 2023) asked the MUL Board to resign, effective today. The Government of Montserrat thanks the outgoing Board for its services over the years.
A new board will be elected and will include the Government of Montserrat’s Financial Secretary, along with the Ministry of Communication, Works, Labour and Energy (MCWLE) Permanent Secretary and MUL’s Chief Engineer. The Board Secretary from the outgoing Board will continue to serve on the new Board.
The new Board will be expected to restructure the company and explore ways of addressing the financial problems.
Despite MUL’s financial challenges, the Government is reassuring MUL’s employees that there will be no job or income losses as a result of these financial issues.
The Government of Montserrat already provides ongoing financial and capital support to MUL by funding the company’s major infrastructural development to include the power plant and purchasing of its medium and high speed generators among others.
The Government will continue to monitor the situation and will provide further updates to the public, as required.