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…