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Kiriro: RVR shaping up to be another mega scam
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B.Timer
#1 Posted : Tuesday, June 03, 2014 2:51:47 PM
Rank: Veteran

Joined: 5/31/2008
Posts: 1,076

It means that there is no true local participation in the project by either Kenyans or Ugandans. Yet both govenments will come under extreme pressure to renegotiate the RVR concession, with no guarantee whatsoever that RVR will perform any better. LEGAL RIGHTS COMPROMISED Already, in a radio talk show on Tuesday, May 20, the Cabinet Secretary for Transport and Infrastructure, Mr Michael Kamau, while admitting that RVR has failed, nonetheless declared that the contract had been extended by one year and will be renegotiated “in view of SGR”. The reason Anglo Leasing was paid is related to standard gauge railway. The government needs to pay the Chinese 20 per cent of the $4 billion construction cost. This is $800 million which it doesn’t have. To make this payment, the government needs to borrow to kick-start the SGR project. The borrowing presumably needs to come from the Sovereign Bond as the government have no ability to raise the money from savings (which is what a prudent government should do). The government has already borrowed heavily domestically, hence the dilemma. It was also clear that a protracted Anglo Leasing case would have delayed the Sovereign Bond and put the SGR project at risk. In any event, it has already been admitted that Anglo Leasing was paid to unlock the ability to borrow money, which surely includes money to pay the 20 per cent deposit for SGR. Failing to enforce RVR termination is very similar to failing to defend the Anglo Leasing case. In both cases, the government is waiving and, or has compromised its legal rights in a situation where it is highly costly to the taxpayer to do so. One can only assume that extraneous interests invariably persuade the government not to enforce the public’s legal rights. This is fraudulent, and a blatant abuse of office.

Dunia ni msongamano..
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  | | Edit by user: Tuesday, June 03, 2014 2:53 PM | Reason: Not specified
McReggae
#2 Posted : Tuesday, June 03, 2014 2:55:19 PM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
Teren teren teren!!!......the gaarment is in th hole and continue digging, the citizenry will pay after all!!!
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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  | | Edit by user: Tuesday, June 03, 2014 3:00 PM | Reason: Not specified
poundfoolish
#3 Posted : Tuesday, June 03, 2014 3:05:38 PM
Rank: Elder

Joined: 12/2/2009
Posts: 2,458
Location: Nairobi
and finch said our failure to pay Perrera would not have affected our credit ratings.

So why did we rush to pay?
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Othelo
#4 Posted : Tuesday, June 03, 2014 4:10:56 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
Kwani this pererabond will be used to pay how many items in GoK shopping basket! Just about 180B!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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simonkabz
#5 Posted : Tuesday, June 03, 2014 4:41:43 PM
Rank: Elder

Joined: 3/2/2007
Posts: 8,776
Location: Cameroon
Maybe we should do away with this SGR thing for good and enjoy the consequences of our choice to shove it aside, when everybody rushes to Dar.

Then we can whine forever for Uhuru's failure to pursue the SGR "by any means". Talk of a country with no unity of purpose and a people full of blurry visions=visionless
TULIA.........UFUNZWE!
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Jus Blazin
#6 Posted : Tuesday, June 03, 2014 4:49:45 PM
Rank: Elder

Joined: 10/23/2008
Posts: 3,966
simonkabz wrote:
Maybe we should do away with this SGR thing for good and enjoy the consequences of our choice to shove it aside, when everybody rushes to Dar.

Then we can whine forever for Uhuru's failure to pursue the SGR "by any means". Talk of a country with no unity of purpose and a people full of blurry visions=visionless

I agree with you. The tunnel vision borders on the absurd.
Luck is when Preparation meets Opportunity. ~ Lucius Annaeus Seneca
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Othelo
#7 Posted : Tuesday, June 03, 2014 5:11:26 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
Let Ouru do what he has to do and in any case he has nothing to lose! SRG is good for the country's economy plus promotes regional development let it be.

But he needs to check on corruption ... and wayward contracts like angoleasing.
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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