There is no room for economic grandstanding and arrogance

Oct 01, 2015 Letters

Dear Editor,
Opposition Leader Bharrat Jagdeo is quoted in the press as saying that “Government could buy out the Berbice Bridge”. Editor, I do not think the Government of Guyana is insane to bail out the business of the best friend of Jagdeo, who remains the principle ordinary shareholder. He is one of the principle sources of the problem and has made very little effort to coin a solution and therefore he should be treated as a troublemaker with personal vested interest on this issue and nothing else. Rather, he still operates with that grand illusion that he controls the Treasury. DING! Wake up, a new day has dawned in Guyana.
This bridge was constructed under Jagdeo’s watch with the grand promise of bringing relief to the ordinary people, but instead it became a financial millstone over the neck of the working class. Even the Berbice Business community has rejected the business model that generates an untenable toll of G$2,200 per minibus. The people must continue to reject these tolls and show their rejection by using the speedboat in their numbers.
There is no room for economic grandstanding and arrogance from the Berbice River Bridge Company. The issues are separate and distinct – one, a fully funded political commitment by the Granger / Nagamootoo administration and secondly a business issue that the company claims it faces. Thus they must be dealt with separately and cannot be comingled.
First things first! On the political commitment, the Granger / Nagamootoo government has made it absolutely clear that they are prepared to underwrite the full cost of reducing the tolls as prescribed in the 2015 National Budget, whatever the cost. Once the business opens its book to financial scrutiny, the Ministry of Finance will cut a cheque in favour of the Bridge Company and deliver it upon the reduction of the toll. That is such an easy situation with such an easy solution and therefore, it continues to baffle my mind why this company is dilly dallying on this issue.
Eureka!
So the boys at the Bridge Company arrogated on to themselves the power to hold a nation at ransom but they have been ill advised. You cannot hold a nation at ransom. Not even the big and powerful Venezuela could have held little Guyana to ransom. The Bridge Company claims that they have an alleged business issue. Well the facts illustrates that they brought this issue to the attention of the PPP Government and it was ignored. They are now trying to dictate to the new government the sequence of the agenda. Are they for real?
Let me put the “lords” who are pulling the string behind that Bridge Company on notice – continue this game of “brinkmanship” and you will be responsible for a bankrupt company.
The solution.
First things first – settle the business with the Government on their political promise to the people since it will not cost you one blind cent. Then re-engage the Government on your alleged business issue, which has to be backed up with facts, figures and financial statements. Boy, oh boy, Christopher Ram will be all over them and with his skill set. This company has now found itself between a rock and a hard place since there is no opportunity to fudge the numbers. The old people say “in gambling, weird things happen and suddenly your life is shot to pieces”. To the Board of the Berbice Bridge – know your place; your strategy is a sure road to diluting the value of your shareholding. Can you afford that path? THINK!
Sase Singh

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There is no room for economic grandstanding and arrogance

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