Plainly Business continues my writing on accounting, finance and economic issues previously appearing as Business Page in the Sunday Stabroek. Readers’ comments and discussions are welcome.
Introduction
President Donald Ramotar’s description of the rejection by the parliamentary opposition of a bill and motion dealing with the Amaila Falls Hydroelectricity Project as an act of terrorism is serious stuff indeed. It makes the earlier statement by Prime Minister Sam Hinds about the vote being the funeral of the project seem modest if not jocular by comparison. President Ramotar’s anger is understandable. His exaggerated description of the rejection and his incredible claim that Amaila will save us G$40 billion per year are not. The matters have to be placed in the context of the events in the National Assembly that evening but which are not entirely appropriate to this column.
President Ramotar’s administration inherited and pursued the prestige projects conceived by former President Jagdeo with evangelical enthusiasm. Jagdeo conjured up the Kingston Casino and Hotel Project and everyone followed him. He dreamt about the Airport Runway Extension and Expansion Project and no one questioned or cautioned him, about need, concept or cost. Someone must have told him about health tourism and he decided on a specialty hospital – no explanations sought or offered. But Amaila stands out as the big project; one that Jagdeo might still hope will cause the name Jagdeo to live in perpetuity, not for Pradoville 2 but for vision, not for corruption but for grandeur. Nothing is wrong with having vision and even grandeur, if they take into account that schools are failing and medical services are still Third World-ish.
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