Dr. David Hinds on Fading Opportunities
Subscribe and view more at:
http://www.youtube.com/user/PlainTalkbyCR
Cheddi Jagan International Airport Corporation racks up heavy losses; questions about where the income goes: Part 3 – Airport extension and the Shah’s golden toilet
Introduction
I wish to acknowledge the generosity of all those persons who have shared information and their time and expertise relevant to this column. They prefer anonymity, some because of fear of victimization. One non-Guyanese who lives abroad sent me a copy of the FIDIC Yellow Book referred to in the contract for the runway expansion which I earlier indicated I had some difficulty accessing. I am gratified and grateful too to the many engineers who have looked at the contract for the expansion of the runway and the construction of a new terminal building. This contract is a shocking tale of recklessness and irresponsibility on the part of the Ministry of Public Works and indeed the entire government which with its eyes open signed a contract that allows the contractor China Harbour Engineering Company Ltd of Beijing China to fleece this country.
A Guyanese engineer who practises his trade in the US and who reviewed the contract at my request described it as the most lopsided contract he had ever come across in his entire professional life. He was struck at the looseness of the language of the contract that allows the contractor easy escape from any liability and the disproportionate obligations which the government has assumed under the contract. Citing one specific example the engineer noted that the contractor can claim against the government that he needed to work 24 hours on any day but the government did not allow it, presumably by ceasing all activities and flights on that day. In such a case the government would be required to compensate the contractor. Giving his overall assessment of the contract he wrote: “Wow, this is a sweet deal here. Does it mean that the contractor does not have to satisfactorily repair damages or defects? What about damages due to contractor’s negligence?” he asked
Continue reading “Cheddi Jagan International Airport Corporation racks up heavy losses; questions about where the income goes: Part 3 – Airport extension and the Shah’s golden toilet”
Ron Webster acquired 85.31% stake in CCI for G$300,000 – and no money paid
A review by Business Page of Sunday Stabroek of May 5, 2013 of the annual reports and financial statements of three companies, including Caribbean Container Inc. (CCI), about which three concerns were raised, drew a sharp response from Mr Ronald Webster, that company’s Chairman and Managing Director in respect of one of those concerns which dealt with his controlling interest in CCI. It was Mr. Webster’s view that the column ignored certain statements in CCI’s annual reports for the years 2005 through to 2012.
So what did Business Page ignore? Here are five assertions in the reports by Mr. Webster as the company’s Managing Director and by the Board of which he is Chairman, each followed by the facts gleaned from publicly held records. I add some comments as seem appropriate.
Continue reading “Ron Webster acquired 85.31% stake in CCI for G$300,000 – and no money paid”
Plain Talk: Discussion with John Nonggorr on Democratic Challenges in Multicultural Societies
Dr. John Nonggorr is professor in the Faculty of Law, University of Papua New Guinea. He discusses Democratic Challenges in Multicultural Societies such as Guyana in this interview.
Subscribe and view more at:
http://www.youtube.com/user/PlainTalkbyCR
Cheddi Jagan International Airport Corporation racks up heavy losses; questions about where the income goes: Part 2 – Airport Extension
Introduction
In July last year under the caption ‘No such thing as a free chow mein’ I wrote critically of the process leading up to the decision to undertake a proposed expansion project at the Cheddi Jagan International Airport. Let us recall that the Minister of Public Works and Communication Robeson Benn had explained that “we [meaning the government] had to enter into an agreement because we had a very narrow window in September where a Chinese Vice Premier came to the Caribbean with several billion dollars to fund projects and it was the only opportunity we had then to fund this undertaking.” What follows in this column shows how dangerously absurd it was to make such a multi-million US dollar contract for an even more absurdly outlandish project. Because of the substantial expenditure to which the Government of Guyana is committing the taxpayers of this country, I will begin by outlining the provisions of the contract for the extension of Cheddi Jagan International Airport and will follow this up with a review of the government Concessional Loan Agreement signed between the Government of Guyana and Export-Import Bank of China (EXIM).