GPL moves to slash line loss

GUYANA-Technical and Commercial line loss which currently stands at 28.5 percent, has bled the Guyana Power and Light Inc. of millions of dollars annually. But with the help of a loan programme sponsored by the Inter-American Development Bank (IDB), this state of affairs is expected to be drastically improved. Minister of Public Works, David Patterson, who also shares responsibility for the energy sector, told this newspaper last night that GPL intends to “significantly reduce” the loss way below 23 percent at the end of the loan programme. Asked if there is going to be a complete restructuring of the company, given its worrying financial performance, Patterson said, “No, not at this moment.(KAIETEUR NEWS/ kaieteurnewsonline.com)…[+]