Despite overtures from the government, the main opposition, APNU and the AFC yesterday reiterated their intention to proceed cautiously on the motion to increase the debt ceiling for the Amaila hydro project as well as amendments to the Hydro Electric Act suggesting that the matters may not receive their support at Thursday’s sitting of the National Assembly.
In a statement on Saturday, Minister of Finance Dr. Ashni Singh expressed concern that progress with the Amaila Falls Hydropower project could be threatened as critical deadlines are looming and dates on certain commitments expire this year. “Decisions on the matters at the upcoming Parliament meeting are critical to ensuring that the IDB (Inter-American Deve-lopment Bank) timetable for the Board’s consideration of the transaction is achieved,” the statement said.
In June, Singh tabled a motion so that the debt ceiling on external loans could be increased. The motion seeks to increase the limit on total guarantees that can be issued under the Guarantees of Loans (Public Corporations and Companies) Act from $1 billion to $150 billion or approximately US$730 million. This is as a
