According to Chairman of National Parking Systems (NPS) Irfan Cush, the Mayor and City Council will not have to contribute money towards the procurement of parking meters and will be receiving 20% of the annual gross revenue during the 49 years that the company has been contracted for.
Speaking to Stabroek News yesterday, Cush stated that while the project has a high cost attached to it, they are expecting to start making a profit in 3-4 years. While it was reported that it was NPS that was contracted, Cush clarified that it was Smart City Solutions (SCS), of which he is a director, that was contracted and that NPS is working with them.
