WILLEMSTAD – The sale of telecom company UTS generated a total of 339 million guilders, of which 124.3 million was paid directly into the government treasury. The remaining proceeds were used to settle debts and finance a range of public projects. This was explained by Minister of Finance Charles Cooper (Movementu Futuro Kòrsou) during Parliament’s Question Hour.
The minister responded to questions from Member of Parliament Maria Nita, who sought clarification following public reports suggesting that only 1.1 million guilders from the UTS transaction had ultimately remained available to the government. Cooper rejected that interpretation and provided a detailed breakdown of how the funds were allocated.
According to the minister, 59 million guilders were used for the Curaçao Medical Center and the former Sehos hospital, while 49 million went to the Social Insurance Bank (SVB). Additional funds were distributed to several government-linked entities and ministries. Among the beneficiaries were ABC Busbedrijf, Korpodeko, Blue Nap and TeleCuraçao, as well as the ministries of General Affairs, Economic Development, Traffic and Transport, Spatial Planning, and Education. The allocations were used for projects related to cleaning services, infrastructure, education and renovations.
Cooper acknowledged that he continues to regret the sale of UTS, describing it as a difficult but necessary decision. He argued that the proceeds were required to meet urgent financial obligations and to prevent further strain on public finances.
Looking ahead, the minister said that future decisions involving the sale of government-owned assets should be presented to Parliament in advance. He pointed to the approach taken on Sint Maarten, where legislative approval is required before such transactions proceed, and suggested that Curaçao should adopt a similar practice to strengthen parliamentary oversight and transparency.