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Prime Minister Samuel Hinds speaks out against opposition voting against GPL subsidies – 19th Apr 2013

samuel hindsPrime Minister Samuel Hinds is strongly defending the management of the Guyana Power and Light Company, saying that the problems the power company face are not in its management, but that the real cost of electricity is not being paid by the consumers.

But despite the PM’s defence, last year GPL registered losses of 5 billion dollars, despite soliciting 6 billion in subsidies and 5.35 billion in loans from the Government.

Speaking at a press conference on Friday in response to the opposition budget cuts to the company, the Prime Minister said there is a 16 dollar subsidy on each kilowatt of electricity that is being enjoyed currently by consumers.

The Prime Minister said at a time when there has been an increase in demand for electricity, he was perplexed as to how the combined opposition could have voted against the subsidy. He said right now the government is pondering its options.

The Opposition maintains that the high cost, though not the real value, paid for electricity is due to the company’s inefficiencies.

Opposition spokesman on finance, Carl Greenidge said, it will be morally wrong for the combined opposition to allow for an injection of money into GPL that continues to haemorrhage revenues to cover its management’s failures.

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