Study needed on Berbice Bridge tolls
TWO things stand out at the heart of the matter in any attempt to revise the Berbice Bridge tolls. The bridge is a public utility funded by public/private capital that serves the masses and, secondly, it enjoys a monopoly as the only means of crossing the river.Given the very nature of its mode of existence and the concomitant strategic importance the bridge plays in the scheme of our national transportation, the regulating role of the Government can and will be justifiable in recommending a revision of the toll to the Bridge Company.
As a norm, throughout the world, public infrastructure projects like roads and bridges do have low rates of return. That is why private capital does not normally invest in them. It was indeed a forward step in Local Private Entities investing in the bridge. They should, in return, expect a decent profit for their investment.
Bearing all these factors in mind, I would humbly suggest that the President of our Republic appoint a three-member panel of economists from the Government, Private Sector and University of Guyana to do a comprehensive financial study of the bridge and make their recommendation as to whether the toll can be revised, maybe in a phased manner.
REGGIE BHAGWANDIN