Power and finance

LUCAS STOCK INDEX The LSI remained unchanged in the first week of trading in April 2012. All three stocks that traded, Banks DIH (DIH), Demerara Bank Limited (DBL) and Demerara Distillers Limited (DDL), recorded no change in value. As a consequence, the index remained 2.43 points above the Treasury yield.

Scrutiny

In the last few days, the Guyana Power and Light Company (GPL) has come under intense press scrutiny for a financial decision that it made about generators used in its operations. From the case presented in the news media, there is the view that GPL should have purchased the generators instead of renting them.  The coming together of power and finance in this manner has even attracted the attention of the President, who weighed in with his own concerns about the issue. The way the media is presenting the case suggests that there might be other factors buried in the decision that need to be brought to light.  The way GPL has responded to the queries also has not helped and certainly leaves open the possibility that other issues of public concern might lie behind the decision. GPL is nobody’s teddy bear primarily because of the insensitive way in which it has often treated its customers.  But, on the face of the information appearing in the newspapers,