Dear Editor,In a letter to the Editor on May 15, 2017, I expressed serious concerns following (then) Minister of Natural Resources Honourable Raphael Trotman’s statement on the Production Sharing Agreement with ExxonMobil whereby it was noted that “ExxonMobil is allowed to recover expenditure as part of the contract, this is easily understood. What is not clear is exactly what expenditure, is it the expenditure to the point of discovery? Do we have a figure of how much it cost ExxonMobil to discover the Liza field well and is that the amount to be recovered by ExxonMobil or is it that we will have to repay all of ExxonMobil’s subsequent costs as they continue to explore?”That was over two years ago, answers were never provided, for no doubt they were dismissed as ‘non-expert’. Sadly, the Government is now asking the International Monetary Fund the same questions. The concluding statement of the 2019 International Monetary Fund (IMF) Article IV Mission to Guyana states: “authorities have indicated their concerns that the absence of a ring-fencing arrangement in the Stabroek Production Sharing Agreement (PSA) could potentially affect the projected flow of Government oil revenues”.The harsh truth is that this omission from the PSA could not be made if the persons negotiating on the behalf of the Guyanese people applied logic, common sense, if you will, and genuine concern for the future wellbeing that oil revenues could provide. The adviser on petroleum to the President, Jan Mangal, now claims to have been absent from negotiations. No special knowledge of ‘oil and gas’ was required; just honest care, we may never know if the negotiations were so poorly done due to negligence, corruption, deficient logic or basic stupidity; what I do know, is that no Administration that cares so little for the future wellbeing of its people, should ever be elected again. The Guyanese people are not incapable of logical thought and we know the clichéd “fool me once” applies in spades.Respectfully,Robin Singh
BL19_IBP_BEDI 2/2 Justice RM Lodha Justice RM Lodha SHARE 1/2 Supreme Court rules in favour of cricket and its fans BL19_IBP_BEDI SHARE SHARE EMAIL × July 18, 2016 Lodha panel gives BCCI time till Oct 15 to comply with proposals Justice RM Lodha Published on 1 BCCI should accept the report humbly, says Bishen Singh Bedi COMMENT BL19_IBP_BEDI null cricket RELATED COMMENTS Justice RM Lodha is a satisfied man, with the Supreme Court on Monday endorsing most of the key recommendations made by the Panel headed by him to suggest structural reforms for the Board of Control for Cricket in India (BCCI).Lodha, who chaired the Supreme-Court constituted panel, told BusinessLine that he does not see any impediments in implementing these recommendations.“The report was prepared after a lot of deliberations and efforts were put for nearly one year and it has now been broadly accepted. After the direction given by the Supreme Court, I don’t see any impediments in implementing these recommendations,” he said. Voicing a similar view is former Indian Cricket Captain, Bishen Singh Bedi, who said “The recommendations by Lodha Panel have been formulated after going to the bottom of the issues…after putting in enormous efforts. I don’t see any reasons why these recommendations cannot be implemented within six months by the Board.”Bedi is also quick to point out that the fact that the Supreme Court had to intervene meant that something was dreadfully wrong with the BCCI. “It was being run as personal fiefdom and this had to stop,” he told BusinessLine.Meanwhile, cricket fraternity and those closely associated with the game say recommendations such as inclusion of a Comptroller & Auditor General representative, barring Ministers and civil servants from holding posts, besides capping the age limit for office bearers to 70 years, will mean a major overhaul in the working style of the richest cricket board in the world.The fact that the Supreme Court has let the BCCI decide the structure of agreements relating to broadcasting rights, will bring relief for the Board and the sports broadcasters.