The Private Sector Com-mission (PSC) has noted the motion passed by the National Assembly to lower the Berbice River Bridge toll and says that any unilateral imposition of this will erode investors’ confidence in future public/private partnerships.
“While the Berbice Bridge Company Inc. provides a public good, it must be noted that Capital and Management have been mobilized from both private and public stakeholders that were guaranteed certain terms and conditions prior to investments that are expected to prevail after these investments were made,” the PSC said in a press release. It noted that any breach of such terms and conditions will result in a loss of confidence by private investors in the government and more so the state.
Further, the PSC said, if the decision taken on Thursday by the National Assembly is implemented future development projects that are expected to follow the model of public/private partnerships will be significantly undermined.
According to the PSC, any reduction in the toll must be based on the results of a thorough socio-economic analysis and by mutual consent of the management, board, investors and government on behalf of the people and State of Guyana.