Dear Editor,
As reported, there can be no doubt that the rickety 36-year-old bridge crossing the Demerara River has long passed its 10 years of useful life and needs urgent replacement before disaster strikes.
However, its replacement should not be based on a sketchy, hurriedly prepared pre-feasibility study with negotiation for financing entrusted to the beleaguered National Industrial and Commercial Investment Limited (NICIL) under the dubious management of Mr Brassington. Minister Benn was forthright when he stated that the government does not have the resources to build this bridge replacement, and neither does Mr Brassington have the skills and capability to negotiate international financing for such a multi-million dollar project.
In any case NICIL does not have the legitimacy to negotiate any loan on the financial market or offer guarantees on any international loan. It is just a front for the government which has to underwrite any loan for such a project and is ultimately responsible for its repayment. Therefore, all such matters should in the first instance be brought before the National Assembly for scrutiny.
In order to have the confidence and trust of the public and investors Minister Benn has to ensure that this project is not opaque, shrouded in secrecy and that its deliberations are transparent. If not, its fate will be similar to that of the Amaila Falls and Marriott Hotel projects.
Investors/entrepreneurs do not put their money on a platter for investment on high risk projects in developing countries unless they are assured that they will be handsomely repaid. To assist them determine their exposure they rely on many sophisticated financial determinants, least among which is a feasibility study carried out to determine the project’s economic, financial, environmental and technical viability. It should be recalled that the Inter-American Development Bank was not prepared to consider the government’s loan application for the Amaila Falls project unless a feasibility study was carried out for its consideration. Such a study should be conducted by a firm with proven engineering bridge experience and not by those ‘fly by night firms’ which rely on PPP/C favour for survival and are the cause for so many of the problems being experienced by projects throughout Guyana because of their incompetence. Construction proposals should not be entertained until such time that the project is properly defined and finance assured.
Mr Brassington’s record as Chairman of GPL and so many other projects under his responsibility indicate his lack of managerial, technical and leadership skills. Therefore to entrust NICIL with the authority to manage all aspects of the proposed new Demerara River bridge in order to have some sort of political control will be a disaster of enormous proportions. The Ministry of Public Works also may not have the personnel required to form a bridge authority to manage all aspects of the proposed project, but Minister Benn with a bipartisan approach could no doubt find Guyanese to take up the challenge with distinction.
Yours faithfully,
Charles Sohan
