PSC defends position on Berbice bridge toll reduction

Dec 17, 2013 News

Chairman of the Private Sector Commission (PSC) Ronald Webster, confirmed yesterday that a few persons may not have been aware of the recently issued statement warning the Opposition parties that they should not get involved in “non-regulatory interference” pertaining to toll reduction at the five-year-old Berbice bridge.

PSC Chairman Ronald Webster

The Chairman, in response to sections of the media peddling that the Commission would have issued the Bridge statement against the knowledge of constituents, insisted that the statement is “factual” and that there was no attempt to issue the statement without the knowledge of its members.
Webster said in a telephone interview that the Commission’s executive was well aware of the statement since it was first discussed and decided upon.
He added, “Several persons knew about it, but there may have been one or two persons who were not aware of the statement, but who felt that they should have known.” Webster explained, further, that the Commission is made up of hundreds of members and it would be “impossible” to get the say of every affiliate.
The Bridge statement was an executive release, Webster said. The core idea of the statement, he asserted, was based on the issue of the bridge toll and that there should be no government inference.
Webster reiterated that the statement was “factual and accurate” but because of the size of the PSC it would be possible that not every member was aware of the move. What is important he noted, is that the executive/board discusses any actions and subsequently takes a position.
Another member of the Commission who opted to remain anonymous told this publication that he too knew that “one or two” persons were not aware of the Bridge statement and may have had objections about not being informed. He added that as part of the executive, he can say that the matter was discussed.
The executive is made up of the chairman, vice chairman, secretary and treasurer, while chairman of sub-committees within the Commission are also made aware and are present at the executive meetings.
The PSC chairman has promised however, that the Commission will be issuing a full statement on the recent revelations during the course of the week.
The statement in question warned the Opposition parties, specifically the A Partnership for National Unity (APNU) against any form of “non-regulatory interference”. APNU had signaled their intention to seriously pursue moves in the National Assembly to reduce bridge tolls which they believe is too high. The PSC contended however, “The Berbice Bridge Company is owned 80% by Guyanese private sector interests, including pension funds, and 20% by an institutional investor, the National Insurance Scheme (NIS), that also holds non-voting preference stock in the company and provides one of the few opportunities for a good investment return on Guyanese workers’ NIS contributions. It may also be considered critical to the future life of the scheme.”
The statement added, “The company is managed by a Board of Directors representing the investment interests; no one Director can determine or undermine the decision of the full Board, Government or not.”
APNU’s MP Joseph Harmon had stated that it amended a motion to reduce the tolls, anticipating that the Government would argue that the bridge company is a private one.
The bridge directors have decided however to reduce bridge tolls, but this reduction, it is being argued, is still inadequate.