The Berbice Bridge Company Inc (BBCI) is in a “parlous state” and is in need of a rescue package and Chartered Accountant Christopher Ram has restated that the only way for it to survive is for government to intervene.
“The BCCI is insolvent; it cannot pay its debts,” Ram said as he and fellow commentator Ramon Gaskin addressed several national issues as they wrapped up their ‘Post May 11, 2015 – Challenges and Choices’ discussion series at the National Library on Friday. He said that the company needs a rescue package and the only way for it to survive is for government to step in.
In 2013, the Private Sector Commission (PSC) had said that it would not accept government interference in the management of private companies like the BBCI. “The Berbice Bridge Company is owned 80% by Guyanese private sector interests, including pension funds and 20% by an institutional investor, the National Insurance Scheme (NIS), that also holds non-voting preference stock in the company and provides one of the few opportunities for a good investment return on