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Winston Brassington is not providing this nation with any proper explanation

Sep 26, 2013 Letters

 

 

DEAR EDITOR,
I am yet to see Winston Brassington provide this nation with a proper explanation of why these large deals being pursued see taxpaying dollars to largely finance them while private investors with smaller investments will own the project.
Case in point is the Marriott. The debt and equity structure that Bharrat Jagdeo and Brassington engineered sees that while NICIL will be putting in US$19.5M, only US$4M of that will be equity and allows a private man to put US$8M and own the hotel.
Why instead of making US$15.5M of the NICIL money a loan, didn’t Brassington just put it as equity and government would have full ownership.
Editor, I am yet to see the government respond to the shocking revelations that Government was  in fact putting in the exact same amount that Sithe Global was putting for the Amaila Falls Project but the company was still going to own the project.
Don’t forget too that Government was preparing to guarantee all of the loans for that project.
Kaieteur News published a beautiful chart demonstrating how these people designed these projects to rip us off. There was a letter in the paper asking for this chart to be reprinted.
Editor, I too would love for you to please reprint that chart, so that those who would have missed it can see what these heartless people have been doing with our money, leaving our children and grandchildren for generations to come to repay those hefty loans.
Look at the Berbice Bridge. Brassington takes our money and pays for 90 per cent of the cost of building the bridge only to allow Bobby Ramroop and the others to enjoy all the sweet.
Anne-Marie Girard

 

 

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