[www.inewsguyana.com] – After months of negotiations and setbacks, the APNU+AFC administration and the Berbice Bridge Company Incorporated (BBCI) have finally reached an agreement to slash the tolls for vehicles crossing the bridge.
According to a release from the Ministry of Public Infrastructure, the Minister of Public Infrastructure, David Patterson, has reached an agreement with the BBCI and will be signing a contract with the company in the coming week.
“The agreement, which covers the provision of a Government subsidy to BBCI, will take effect from January 1, 2016,” the release stated.
BBCI had earlier rejected a proposal by the Government to provide a $36M subsidy in exchange for the lowering of the tolls.
BBCI had argued that if it had accepted the proposed deal, it runs the risk of having to file for insolvency and made a counter proposal to increase the tolls by a substantial amount.
Government had pushed for the BBCI to reduce the toll for passenger cars and buses from $2,200 to $1,900, a 13.6 percent decline.
Simultaneously, the toll for all other types of vehicles was supposed to be reduced by 10 percent. It is unclear whether the initial proposal remains on the table.