PPP’s Gas to Shore Project is another one of its many ponzi scheme programs – MP Patterson

“The People’s Progressive Party (PPP) is concentrating all their energies on the ‘Gas to Shore’ project but everything they do is Like a ponzi scheme, it’s like a myth, but of course, we will get a product in the end, but it will not do anything that the PPP claims it will do.” Engineer and Parliamentary Opposition ‘A Partnership for National Unity and Alliance for Change’ (APNU+AFC) Parliamentarian David Patterson said in an interview with Credible Sources, “When the PPP were bringing the Amaila Falls project, they told the nation that when the project came into operation, power would be 10 US cents per megawatt.

The engineer said when the (APNU+AFC) got into office in 2015 and checked the documents on the Amalia Falls Project, it was revealed that when you take away the overhead expenses, “their own documents said if it ever came on stream, power would be 25 US cents per megawatt, which is exactly what we were paying at the time.” The Parliamentarian said the PPP fabricated a plan, and generally all their plans are like ponzi schemes, they are meant to enrich a certain few types of people.”

Patterson further stated that this ‘Gas to Shore’ project is exactly the same as the Amaila Falls project: “They haven’t said who are the beneficial owners of it”. They told us Exxon is building the pipelines, but they haven’t said to anyone who is going to own it or are the beneficiaries.” Patterson said, “Then they said they are getting a loan from the EXIM Bank to build a Gas plant, but they haven’t said which company is going to be running it or how they are going to be charging the person or persons.”

The Member of Parliament (MP) stated, “At some stage, on some quarter page somewhere, the PPP will make a quiet announcement that they have entered into an agreement with company x, y, or z to run this Gas plant, which is the Power plant they are going to end up making, and that the company will charge a management fee to Guyana Power and Light (GPL).” Patterson asserted that when the due diligence is done, it will be some people connected to the PPP Government.

The Parliamentarian further stated, “They said the plant would be producing cooking gas but have not said a word to (DOCOL), formerly Demerara Oxygen Company LTD, now Massy Gas Product (Guyana) Ltd., or Sol (Guyana) Inc. The nation has heard nothing on who the managers are or who is going to be running the cooking gas aspect of the plant.” Patterson detailed that “the Guyana Government will insist that they are involving international partners, but when the pages are peeled back, the veneer of what they say and the due diligence done will show you a ponzi scheme to enrich people.”

The MP noted that the PPP is good at selling dreams and making bad dreams a reality, but they have not successfully completed a single project from 1992 to 2015 or 2020 to 2023. He listed bad examples of PPP government projects: “Skeldon (Sugar Factory) was supposed to be the savior of the sugar industry; Marriott Hotel was supposed to be transformational as the PPP marketed it; and the Private Sector Commission and its then President Jerry Gouveia had said no country can exist without a transformational project and that the Marriott will catapult Guyana into the future. The PPP will now be selling it to one of their friends.”

“The former auditor Anand Goolsarran did an audit on the Marriott-and while the PPP was telling the nation that the Marriott cost 48 million, it actually cost 90 million US dollars, and by 2017, the Marriott hotel ran bankrupt, and the PPP took a loan out for 17 million US dollars, And Republic Bank was about one month away from foreclosing it, and the APNU+AFC government had to take monies from our coffers to pay off that Republic Bank loan and put that loan onto the budget of the country,” Patterson stated.

Patterson continued with the Berbice Bridge, which was built with the majority of funds from Guyana’s National Insurance Scheme, the PPP had said the bridge, when completed, would increase the movement of goods and services tenfold. Completed in 2009 the bridge was supposed to realize its profits by 2015, but Patterson said instead the Berbice probably has the highest toll in the world at 11 US dollars per car, and the volume of cars they were projecting crossing the bridge never manifested.”