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JAGDEO DARES MINISTER PATTERSON TO RELEASE BRIDGE CONTRACT

JAGDEO SAYS PPP OPPOSES PROPOSED BRIDGE HIKES

Opposition Leader Bharrat Jagdeo has dared the Government to release the Berbice Bridge contract. Wendell Jeffrey has more in this report

Posted by Safetv2 Headline News on Wednesday, 17 October 2018

Bharrat Jagdeo is daring Minister of Public Infrastructure, David Patterson, to release the Berbice Bridge contract. Recently that bridge has been in the news after the company which manages the bridge, proposed an almost 400% fare increase to begin on the 12th of next month.

The former President said that everything about the bridge agreement was clearly spelt out before the bridge was built and is included in a detail financial model

Jagdeo said that the model even looked at the number of vehicles projected to use the bridge and the expected revenue

The former president, who was the president at the time of the construction of the bridge, said that a release of the contract will show that the bridge is making more money than was projected in the financial model

The opposition leader said that in the contract there was a projected and real toll indexation and that it spells out clearly how rates should be increased. Jagdeo held up the sheet, as he explained what was on it

Jagdeo, himself an economist, said that tolls were only to peak in 2014 and 2017, he said after that, the tolls should have reduced significantly until it was handed over in 2026

Responding to a report that Minister Patterson said that he cannot release the Bridge contract, because there is a confidentiality clause, Jagdeo told the press this…

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