– in exchange for withdrawal of massive toll increases

THE Berbice Bridge Company Inc (BBCI) has stated that it will withdraw the proposed toll increases on the single condition that the government increases its concession period from 21 years to 40 years.

The government will soon be discussing the company’s proposal at Cabinet but has indicated that it still has no intention of abandoning its pursuit of legal advice.

These revelations came following a letter from BBCI’s Board of Directors, dated November 2, 2018 and addressed to Minister of Public Infrastructure David Patterson.

The agreement is being sought by the company’s board of directors which stated that it will be avoiding the implementation of the toll increases announced on October 16, 2018, and the implementation of increases in the immediate future.

“We believe that such an extension, with full government support, will provide BBCI, as the concessionaire, the opportunity to approach its lenders to re-negotiate terms and conditions of the various debts.

“If these negotiations with the lenders are successful, it will provide much-needed relief to the cash requirement burden and, therefore, [no] need for toll increases at present and in the future. We are convinced that this proposal will allow the tolls to remain as [it] is and provides opportunities for toll reduction in the near future, removing the need for government subsidy on the tolls and maintenance of pontoons,” the letter stated.
The BBCI further proposed that both the government and company, upon mutual agreement to the above, issue a joint statement and the company would no longer proceed with the toll adjustment.

The company also said: “Given the urgency of the current circumstances, the company looks forward to hearing from you by Monday, November 5, 2018 and to meeting with you in order to address this matter before November 11, 2018.”
In a release published in the newspaper dated November 2, 2018, Minister Patterson responded to the BBCI’s letter.

ALL AVAILABLE OPTIONS

“The ministry wishes to publically state that while it supports and welcomes the BBCI’s request for transparent discussions, the ministry is also currently engaged in obtaining legal advice on the matter and the Government of Guyana will be reviewing all available options under the confines of the law as well as possible actions proposed by BBCI prior to any meeting with the BBCI,” Minister Patterson said in the release.
Just after the BBCI laid out its intention in October to increase the bridge tolls some threefold, Patterson had announced to the public that the ministry would be seeking legal advice from the Attorney-General’s Chambers.

He also condemned the proposed increase and, most recently in the National Assembly, stated: “The Coalition Government has no intention of approving the toll increases proposed by the Berbice Bridge Company Inc. and assures the people of Guyana that in the interest of peace, order and good government, we stand ready to protect their legitimate right to a peaceful life in Guyana.”

Regarding the BBCI’s request for a meeting with the minister, Patterson said the company’s letter would rather be up for discussion by other members of the government as the issue remains a national one.

“Notwithstanding the above, the BBCI’s revised proposal will be shared at the next Cabinet meeting slated for next Wednesday, after which a meeting with BBCI to communicate Cabinet decision, and hopefully move this process forward.

“The ministry wishes to note that this response to BBCI is by no means refusal to meet; rather, it serves to ensure that Government of Guyana continues to stand ready to advance the best possible option to all Guyanese in continuing dialogue,” he stated.

Within his public response to the bridge company, the minister also dispelled assertions that the government had refused to meet on previous occasions, listing its previous encounter as October 11, 2018, as well as several other correspondence by letter.
As requested by the government, the BBCI which reports over G$6B in debt, has since presented its audited accounts but only partially and the government awaits the remaining information for onward transmission to the Ministry of Finance.

“At this time, the ministry wishes to assure our Guyanese people that it remains committed to working towards a legal solution in the public interest and urges BBCI’s public commitment in achieving a mutually agreeable position for the benefit of all Guyanese,” Patterson said.