THE Berbice Bridge Company will pocket over $30M every four months from the government to reduce its toll, an agreement reached between the company and the administration has outlined.After months of negotiations, BBCI on Monday officially signed the agreement for the government to provide a quarterly subsidy to reduce the toll. The signing covered the provision of a $31M subsidy to the bridge company for the first quarter of next year starting on January 1, 2016. This subsidy will cover the first quarter of the reduction for passenger cars and minibuses, from $2,200 to $1,900 and for all other types of vehicles by 10 percent, excluding vessels. The agreement will take effect from January 1, 2016 at 00:00hrs, while the subsidy will be disbursed before the end of 2015.
The agreement was signed by Minister of Public Infrastructure, David Patterson, as well as Minister within the Ministry of Public Infrastructure, Annette Ferguson. Chairman of BBCI, Mr. Egbert Carter, and BBCI Chief Executive Officer, Mr. Omadot Samaroo represented the bridge company.
In a statement the Ministry of Public Infrastructure said both ministers; Patterson and Ferguson were pleased that the agreement has finally been reached. The ministers also said that the agreement is just an indication of the Government of Guyana’s commitment to providing a better life for the Guyanese public.
Government had said that its efforts to reduce the Berbice Bridge toll is part of a plan to alleviate the burden of the high fare for the over 150,000 Guyanese who live within Regions Five and Six and traverse the bridge to access education and health services, conduct business and travel on a daily basis.
According to the agreement, the total amount of the subsidy shall be agreed by the parties based on the projected traffic figures for the next following quarter and paid quarterly by advance payment, no later than the 5th day of the month commencing the quarter. The agreement further states that the advance payment for each subsequent quarter shall include an adjustment for the immediate preceding quarter, determined by an audit thereof. According to the agreement the cost of the audit to verify actual traffic figures shall be borne by the Government of Guyana. “The Auditor General or any certified firm of chartered accountants or a chartered accountant registered and licensed to practise under ICAG with at least five years auditing experience would conduct the audit. If the audit is not completed within a month from the close of the quarterly period for any reason, the traffic figures provided by the Company shall be the basis for the advance payment until the audit is done, after which the figures shall be adjusted for the ensuing month,” the agreement stated.

Commuter subsidy
Meanwhile, government also agreed with the company that the subsidy provided shall not be referred to as a toll reduction but rather a “commuter subsidy” to the Berbice Bridge Company Inc and shall not affect the rights or manner in which revenue is collected, inclusive of the commuter subsidy, by the Company is used, as provided for in the Concession Agreement. “This agreement is without prejudice to the rights of the parties under the Concession Agreement and the Berbice River Bridge Act Cap. 51:06. And this Agreement will take effect from January 1, 2016 subject to any further agreement on additional subsidies, which the Parties may agree to.”

Under the agreement the company shall be responsible, at its own cost, to make such modifications to its software, accounting and notices as are necessary for the full and proper implementation of this agreement. “Both parties reserve the right to terminate this agreement by serving on the other party a written notice at the official address of the party, three (3) months prior to the effective date of such. The Parties shall, prior to reference of this clause, attempt in good faith for a period of not more than 30 days to resolve any dispute or claim arising out of this agreement. Any dispute arising out of or in connection with this agreement during, or after its termination, shall be determined by an Expert, mutually appointed.”