The Minister of Finance, today: “I can confirm that we have received the appropriate Entrustment Letter from Her Majesty’s Government in the UK to move forward with the project, despite the fact that a recent legal opinion established that a separate Entrustment was not necessary. “I can also confirm that we have already consulted with the Accountant General, who is responsible for Financial Instructions, and have received the required approval to move forward with the engagement of CCC.” The Minister previously said it is expected to cost in the “range of $200 million”, and the plan is to break ground in about a year, and the project should take about three years. MY RESPONSE: WOW! This means: 1) that last week when the Minister told us that only a Memorandum of Understanding had been signed, that no firm contracts were in place, that he was in the exploratory stages of assessing the viability of a partnership, conducting due diligence yada yada yada. That was a lie. WOW! 2) He was disingenuous and grossly misrepresented the situation in that it is now apparent that he had already sought UK approval, so this deal is a lot more advanced that we were led to believe...WOW! 3) His second statement says that he has consulted with and received the blessing for the deal from the people (Accountant Generals office) that report to him...thus presumably has not contravened any good governance protocol or Financial Instructions which he reminded us last week that he writes...DOUBLE WOW! I can see now that the rain has gone...
Posted on: Fri, 21 Nov 2014 18:00:34 +0000