[www.inewsguyana.com] – The Berbice Bridge Company Incorporated (BBCI) has defended its stance in the implementation of reduced tolls at the Berbice River Bridge as announced by the government, contending if not done to their specifications, the company stands the risk of going bankrupt. The government must understand its responsibility to ensure that all criminals are brought to justice. The project did not receive any Government guarantee. i have to agree with Ralp.But i also want to know what is the position with the NIS MONEY??? Stop giving statements and news headlines. The fait accompli was that its proposed commuter subsidy would be based on the existing toll structure, and that the revised toll structure as adumbrated in the Concession Agreement, and brought to the attention of the government, would be ignored. That venture is another example of a monopoly intended to enrich a few at the expense of thousands. But the Company, in a statement on Saturday, said that this was not the case. It was reiterated that based on the figures that had been submitted to the Government, because tolls had not been increased based on the Toll Formula under the Concession Agreement, revenues of $1,228,523,720 had already been lost. Each minority investor should walk to the middle of the bridge and jump. Any change in the Concession Agreement and the Toll Order which is made by the Government (the last one was made in 2009 by the Minister of Public Works), requires the approval of the Trustee and the Shareholders. The Peopleâs Progressive Party rejects the APNU/AFCâs attempt to blame it for a proposed 150% toll increase as called for by the Berbice Bridge Company Inc (BBCI) Chairman. Notify me of follow-up comments by email. 01:00hrs - ~02:30hrs. 100 days plans for Guyana is over and supporters wait with patience to to see the real changes. The Berbice River Bridge. Bankruptcy when the minority investors did not put up any kind do of investments? Patterson, The model was faulty – Min. DPI, Guyana, Tuesday, November 06, 2018 Berbice residents and motorists have welcomed the Government’s decision to temporarily take control of ... Read More . Guyana Bridge Schedule's cover photo . Peter's Hall, East Bank Demerara, Guyana. The Guyana Elections Commission wants to hold Local Government Elections, says Commissioner Sase Gunraj. According to the statement, this increase in demand for cash was supposed to have been met by increases in tolls. The gov need to inforce strict governance with these kinds of humans demand a reduction in fares or face the consequences and start looking at ways to remove the entire board or ownership which ever and find people who has the building of the country at heart to run this operation. They have decimated the local economy in Region Six. I am sure if an audit is done you will find Hugh corruption and links to others who are benefiting from this bridge conglomerate. Patterson assures commuters DPI, Guyana, Tuesday, ... DPI, Guyana, Tuesday, July 17, 2018 Amidst calls for the government to rethink its decision to not grant toll increases ... ─ Gov’t continues to find alternatives to toll increases proposed by BBCI ─ company’s proposed cost “is way in excess ... ─ “some of these PPP models, taken by the previous administration, did more harm than good for the society” ─ ... DPI, GUYANA, Tuesday, July 10, 2018 The Minister of Public Infrastructure, David Patterson has solidly reaffirmed the government’s position that ... DPI, GUYANA, Wednesday, May 09, 2018 An increase in tolls by Berbice Bridge Company Incorporated (BBCI) to facilitate maintenance will ... Ministry of Human Services and Social Security, Ministry of Local Government and Regional Development, Ministry of Tourism, Industry and Commerce, Berbice residents welcome Govt’s temporary management of Bridge, Govt temporarily takes over operations of Berbice Bridge move in interest of public safety, Govt rejects proposed toll increase for Berbice Bridge, We will never allow such increases – Min. Patterson acting in accordance with Berbice River Bridge Act – Govt will manage operations until there is no ... – ‘There will be no increases in toll for the Berbice Bridge’ - Min. The BBCI would expect that Government is fully committed to honouring the legislation, concession agreement, and the rights enshrined in the various agreements related to the Berbice Bridge. The government should build another bridge behind the estate which will cost less. Prison officials on... © 2017 INEWS Guyana. All investors relied on the toll making adjustment in the Financial Model that is referenced in Schedule 4 of the Concession Agreement and projected in the Financial Model referenced in the Concession Agreement. No changes in tolls were projected until 2014, the year the bridge company was scheduled to start repaying the principal on its debt; up to end 2013, only interest was being paid on its debt financing. Recent Posts VIEW ALL . Demerara Harbour Bridge Schedule for August 2020. It should stop blaming the PPP for its numerous acts of incompetence. Reminder. Directors of BBCI, have a fiduciary duty to act in the best interest of the company. It also spreads when a person touches a surface or object that has the virus on it, then touches their eyes, nose, or mouth. BBÇI is jus playing the fool … My guess is that they are going to ask for a few billions in bailouts soon.. My take is, let go bankrupt, the pay back the investers their balance of capital they invested and take over the bridge..