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Questions for the President

Sep 27, 2013 Letters

 

Dear Editor
Mr. President, when starting a new business (which is what the Berbice River Bridge, the Marriott Hotel Project, Amaila Falls Hydroelectric Project, etc. are) that offers a product or service, you start with whatever price someone else is charging for that product or service. If it is a completely new product you make an assumption of what you can charge. This is your feasibility study.
Then, Mr. President, you look at your expenses (wages, buildings, maintenance, utility bills, insurance, etc). You factor this into your feasibility study which then changes the price for your goods or service.
Next, you look at your financing (not just loans, but your own equity). This again changes your price that you can charge. This is as far as I believe we have done the feasibility studies in Guyana.
What needs to happen is that an account needs to be made for the change in ownership and control of the projects. This has not happened.
Mr. Winston Brassington repackaged the deals, thus changing the original feasibility study; therefore, they are all flawed. Then, he actually used the Privatization Act to bypass the Procurement Act. This is not acting in good faith. The Procurement Act is there for a reason.
Sean McLean

 

 

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