$35m not enough; project could cost up to $70m – Hon Andrew A. Fahie
Speaking to Virgin Islands News Online, Hon Fahie, noting the financial closure for $35 million last week by the Government, said that this money is not nearly enough for the project, whose scope has changed over time.
“In terms of the loan, the loan is $35 million dollars but one aspect alone is already $31 million and change, the contract is already four point something million dollars. That in itself is already $35 million and the land based section has not been fully developed and the tenders are out,” said Hon Fahie, a member of the Public Accounts Committee (PAC) of the House of Assembly.
“Somebody has to be forthright with the people and stop the political games. This does not include monies owed to PriceWaterHouseCoopers and other consultants and other technical personnel. This does not include other monies to complete the project in totality,” he said.
“So obviously the $35 million is not enough to complete this project. From the projections, even in the PAC report this has been highlighted, the projections are that this project may go up to $50 million or $70 million and that is room for concern,” he said.
“We cannot run a country where wrong is treated as if it is right depending on who we love and right is turned into wrong depending on who we hate,” he said. “Those are inconsistent principles which usually end up in a very unstable Territory,” said Hon Fahie.
18 Responses to “$35m not enough; project could cost up to $70m – Hon Andrew A. Fahie”
do if they were in power.Is this his stance to try to stop this development sorry to say i had a lot
of respect for andrew,but if he is such an advert accountant and consultant he should then give
up politics and stick to consulting.
If its not enough, the shortfall would come from somewhere. Projects of that magnitude always go over budget. It's economics. Its needed for the advancement of the BVI something that generations will profit from for many years to come. Therefore its better to experience the costs now than later when things will cost a lot more. Criticism is good but negative criticism from leaders concerns me. I am not sure what Andrew is trying to prove. He is still trying to hide his s......ns probably.
Hon. Mark Vanterpool , HON. Dr. D. Olando Smith. So weather you like it or not it would be the people's tax money who would develop that project.
This project is fraught with corruption and bobol, the hallmark of each and every NDP initiative.