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FM
Former Member

Former Black PNC Thugs & House of Isreal Killers and Bandits.....

Kit Nascimento, Jerry Gouviea, Lamumba, Norman McClean, Kwame McCoy, Philip Bynoe & Hamilton........

now forced to defend Jagdeo, Ramotar, Office of the President and Freedom House ......

against an onslaught from Guyana Parliament Majority and Electorate.

The Private Sector Commission (PSC) on Friday dismissed efforts by the political opposition to link approval for the Amaila Falls hydro power project to governance issues on grounds that the generation facility is a “national” matter.

Chairman of the PSC’s Communications sub-committee, Kit Nascimento said the umbrella business organisation wanted the opposition to detail aspects of the 165 megawatt facility that it found objectionable.
He described as “disconcerting” the posture being taken by A Partnership for National Unity (APNU) and the Alliance For Change (AFC) that they would not support the project unless government approves a raft of local government laws that has returned from a parliamentary select committee. Nascimento said the PSC did not support horse trading on national issues and instead each project or issue should be addressed separately.
“What we’re not interested in is that they will only agree to it if the government agrees to some other things…There are some projects that we believe are extremely nationalist that are apolitical and non-political in nature and that the country should not be made to pay the consequences of losing them because they reach beyond political considerations,” he said.
The PSC instead wants the opposition parties to critique the project documents which have been provided to them by the Guyana government.
The PSC’s concerns came one day after the combined opposition Thursday voted against the Hydro-Electric Power (Amendment) Bill and a motion seeking to raise the government guarantee of loans from GUY$1B to GUY$150B. They are both integral to the US$840M Amaila Hydropower Project, the largest investment in Guyana’s history.
The opposition first wants government to support reforms to the local government laws, the establishment of a Public Procurement Commission (PPC) to fight corruption and the presidential assent of opposition-piloted bills.
The PSC spokesman assured that the business community was interested in seeing those other issues addressed separately. “We view very strongly that those issues should be also addressed on their own merits otherwise you’re going to get exactly what you’ve got- a non-functioning nation,” said Nascimento.
The PSC hopes that the political leaders will cease holding Guyana to ransom and allow the project to go forward so that the country can save at least 80 percent of its fossil fuel import bill.
The government and the PSC say that parliamentary approval of the Amaila Falls-related laws  is necessary before the Inter American Development Bank (IDB) can continue to consider the project. “The failure to pass this legislation and the project not being presented to the IDB’s Board in October will almost certainly result in collapse of the project,” the business organisation said in a statement.
The amendment to the Hydro-Electric Power Act seeks to meet the IDB’s environmental requirements by providing a Biodiversity Offset- an ecologically similar protected area- to compensate for the environmental impact of the project area and comply with the IDB’s Safeguard Policy.
 

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Kit seeing his cut from the Amilia embezzlement funds going down the drain. The opposition has the PPP pinned down. Just about everyone knows that the money for Amilia is going to get stolen big time.

Mr.T
Originally Posted by TI:

There is an easy way to end the stalemate. Give the opposition a piece of pickings under the table. You will get a 100% vote.

 

So the issue is being shifted.....

It is no longer about Jagdeo & Ramotar Thiefing....

It is about getting the Majority in Parliament to support the thiefing...

FM

Amaila Falls Hydropower…Raising external debt ceiling to $150B not requirement of IDB – AFC

July 20, 2013 | By | Filed Under News 

 

Raising the country’s external debt ceiling to $150B from $1B is not a requirement of the Inter-American Development Bank (IDB) before it provides financing to construct the Amaila Falls Hydropower plant.
This was revealed by leader of the Alliance For Change (AFC) Khemraj Ramjattan at a press conference yesterday. He noted that members of the AFC met with officials from the Bank on Wednesday.

Khemraj Ramjattan

According to Ramjattan, Government wants the National Assembly to approve the guarantee ceiling to $150B on the premise that this is what the investors and the IDB would like to see in place.
In early June, it was reported that Government was looking to increase the limit on total guarantees that can be issued under the Guarantee of Loans (Public Corporations and Companies) Act.
The new proposed limit is $150B (US$750M) and according to the Ministry of Finance, the increase in the guarantee limit follows on the commitment to the Amaila Falls Hydroelectric Project, which is estimated to cost US$840M.
The increase seeks to guarantee that Guyana Power and Light (GPL) honours its financial commitments under the Power Purchase Agreement (PPA) to be entered into between the power company and Amaila Falls Hydro Inc (AFHI).
Under the Power Purchase Agreement, GPL commits to purchase the power from Amaila Falls for an average annual capacity payment.
The IDB, one of the main lenders of the project, is carrying out a technical review.
According to Ramjattan, the IDB never requested Government to raise the guarantee ceiling. “They indicated that in relation to the Hydro Electric Amendment Bill they would like to see the environmental aspects passed,” he added.
The politician said that the Amaila Falls project is a BOOT arrangement and the private sector should take the risks and share the cost.
The Amaila Falls Hydropower consortium has taken out insurance worth US$100M that increased the price significantly. “So, if the whole thing collapses that insurance company must pay Sithe Global or whosoever and not we who upping the guarantee ceiling from $1B to $150B.”
Ramjattan said if the IDB does not come through on this project even if the guarantee is in place, Government would be equipped with a blank cheque to borrow money from anywhere.

Mitwah
Originally Posted by JB:

My father said Kit Nascimento and Lumumba were part of the Burnham machinery that rigged the election. They have negative credibility. 

Kit was actually the message maker that created the ethos of the Burnhamite regime. He was the architect of the ideas to sell all the cruel repressive schemes as necessary and just. He is unparalleled in his ability to frame arguments as just or unjust in the same sentence. He is our facsimile of  Georgias the sophist  except he parceled up and sold to the people a rotten regime. The man is soulless.

FM

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