Roshan's position is understandable. He sings for his soup. He needs security contracts. 

how dare y'all expect me to pay dem poor Afro wimmen (er, I mean, highly trained security guards) a living wage and build me empire on de backs of poor taxpayers in de way i accustomed to?

paging "Dr" Jagdeo . . . assist please

Why you want to page Jagdeo? Do you want him to return your drag clothes?

another low-IQ reach for 'cleverness' and wit . . . fail

Paging Nigel...come in. You expertise in Amaila is needed

Is tru - tru -ting yu taakin deh bai.

Amaila represents a liability for taxpaying dollars

… Govt. admits this by looking to guarantee GPL payments- Ram, Gaskin  

“The savings that are being touted by the Government and the Private sector Commission are false and spurious.”

The Guyana Government, by its action in seeking to raise the debt ceiling in order to guarantee payments by the Guyana Power and Light (GPL) for the Amaila Falls Hydro Electric Plant, has acknowledged the debt implications of the project.

From left: Ramon Gaskin and Christopher Ram

Government in a public statement on the matter and through various pronouncements by its officials maintained that it is not doing any borrowing for the project.

Financial Analyst, Christopher Ram and Ramon Gaskin have since responded to critics publicly by stating that, “by going to the National Assembly to increase the debt ceiling in connection with Amaila, the Government acknowledged the debt implications of the project.”

The fact is that the Government, not Sithe Global, is guaranteeing the Power Purchase Agreement which requires GPL, a fully-owned state company, “to pay a monthly Capacity Tolling Fee that includes the payment the debts and their related costs, the annual repayment of Sithe’s capital and its returns, and the operations and maintenance cost of Sithe’s operating company.”

According to Ram and Gaskin, “by the Government’s own reckoning, the debt elements alone exceed US$2B over 20 years…Since the Government agrees to pay that debt if the company defaults, this is what accountants call a contingent liability.”

In addressing the claim by government that there will be a reduction in the tariff that will be charged to consumers of electricity the two maintain that it will in fact be increased by 23.6 per cent.

According to the duo “our projections were further based on no more subsidies from the Consolidated Fund and GPL’s Licence rate of return which Sithe imposes as a condition in the Power Purchase Agreement.”

They say that the increase in tariff after Amaila is unavoidable because of the exorbitant US$858M cost of the project “and the unconscionable rates of return to Sithe (19 per cent tax free), China Development Bank (8.5 per cent tax free) and the IDB (9.35 per cent tax free).”

The duo maintains that “it is abundantly clear that a 40 per cent reduction will not cover Amaila’s charge of US$122M at an exchange rate in 2017 that even the Government projects will be more unfavourable than it is now, let alone pay for fuel and run the GPL.”

“We are prepared to provide our projections for public scrutiny if the Government is willing to provide its projections and related documents showing tariff reductions of 40% and 20%.”

According to Ram and Gaskin, any serious discussion of subsidies to the power company must start with the reality that GPL is an extremely inefficient organisation with system losses exceeding 30 per cent for decades.

“Unless and until GPL attains some moderate level of efficiency, a lot of the power bought from Amaila will not be sold and billed to anyone…The savings that are being touted by the Government and the Private sector Commission are false and spurious.”

Responding to claims of savings on the purchase of fuel with the coming on board of the Amaila Falls Hydro Electric plant, both Ram and Gaskin said that while there will be a saving this will all be poured into the prohibitively high debt servicing.

“The entire savings on fuel will be spent on the prohibitively high debt service to Sithe, China Development Bank and the IDB…Sithe alone will get back US$720M for its $150M.”

The two have since said that it is unfortunate that the entire debate has been shaped by the false premise of “Amaila or no Amaila and the falsehood that Amaila is without serious risks.”

The duo maintains their support for hydroelectric power but is opposed to the current project given the risks and costs.

A CRABDAAG LIKE YOU WOULD BE EXPECTED TO BE SUCH A LOW LIFE SHAMELESS PROSTITUTE!!!

nehru is this not he same fool that pull his workers from the government buildings because he need more money as i say when you want a good laugh you have to read guyana news and you fools make it more funny

wARRIOR/ jb, cONCENTRATE AND ANSWER WITH THE RIGHT HANDLE.

Warrior get caught in the act? 

Your breath reeks of stale rum. Ease up on the bottle. 

U.S echoes calls for opposition to support Amaila Hydro Project

 

U.S Ambassador to Guyana Brent Hardt in a statement yesterday echoed what is now a popular call for all political parties to support the Amaila Falls hydro power project. Hardt said this must be done in the interest of the nation so that Guyana can benefit from cheaper electricity which is necessary for its continued development. The APNU continues to oppose the Amaila Falls Hydro project despite calls for it to put politics aside from various sections of the society.

OP-ED by U.S Ambassador to Guyana Brent Hardt:

At the recently concluded Investment Conference organised by the Canadian High Commissioner with the support of the U.S., EU, and UK diplomatic missions and an array of local private sector organisations and enterprises, participants were able to examine both the investment opportunities available in Guyana and some of the obstacles investors face in pursuing opportunities here.

One of the most critical elements for investors is political stability and reliability over the term of an investment.  They need to know that a project, once launched, will enjoy continuing support regardless of potential political shifts.  Such political stability and reliability require political leadership that is willing to pursue policies that will advance long-term national interests, create new opportunities for people, and improve the standard of living for all.
Over the past month, the apparent demise of the Amaila Hydropower project had vividly demonstrated just how these issues can directly affect economic development and progress.  Until recently the project, which has been under development for six years under Sithe Global, appeared to enjoy the implicit support of all political parties. 
In recent weeks, however, the project suddenly became enmeshed in political battles that had little to do with the potential of the project to generate cheaper, more reliable, and more environmentally friendly energy for decades to come.
To mitigate potential political concerns for a project that represented 25 percent of Guyana's GDP -- the biggest single investment in Guyana's history -- the investors determined that they would require a unified commitment from all of Guyana's political parties.  Such a commitment was necessary to ensure that the investment required would not become subject to a loss of support in the event of shifting political configurations.
Sadly, the country's political parties have thus far been unable to come together to support a project that offers all citizens -- of all parties -- the prospect of lower electricity rates and more reliable energy.  The demise of this project is likely to diminish Guyana's future attractiveness to international investors, and make future investments in the energy sector riskier and more costly.
While the window to prevent such an occurrence is small and closing fast, we call on all political parties to come together in the national interest to support a project that all parties have long agreed is necessary to boost Guyana's competitiveness and improve the lives of its peoples with less expensive and more reliable energy.