The Ministry of Public Infrastructure (MPI) and the Berbice Bridge Company Incorporated (BBCI) have finally signed the agreement for the provision of a subsidy to the bridge company, which will trigger a reduction in the tolls to cross the bridge.
The agreement was signed today by Minister of Public Infrastructure, David Patterson as well as Minister within the Ministry of Public Infrastructure, Annette Ferguson.
The Chairman of BBCI, Egbert Carter, and BBCI Chief Executive Officer, Omadot Samaroo, represented the bridge company.
The signing covered the provision of a $31M subsidy to the bridge company. This subsidy will cover a toll reduction for passenger cars and minibuses, from $2,200 to $1,900 and for all other types of vehicles by 10 percent, excluding vessels.
The agreement will take effect from January 1, 2016 at 00:00hrs while the subsidy will be disbursed before the end of 2015.
Both Minister Patterson and Minister Ferguson said they are pleased that the agreement has finally been reached. The Ministers also said that the agreement is just an indication of the Government of Guyana’s commitment to providing a better life for the Guyanese public.
The Berbice Bridge is privately owned although its construction under the previous government was heavily funded by government agencies.
The APNU+AFC government has been making moves to buy up shares in the Bridge Company.
See Agreement below