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The framing and financing of the Marriott Hotel, Berbice Bridge and the Amaila Falls Hydro Electric Plant, represents a scandal of national proportion.Financial Analyst, Christopher RamThis is the view of Financial Analyst, Christopher Ram, who in his latest writings on the US$58 Marriott Hotel Project on his website chrisram.net, said that Winston Brassington, is clearly abusing his power as sole Director of Atlantic Hotel Inc (AHI), and is displaying contempt for the people of Guyana.Ram was at the time making reference to the selective bits of information that Brassington has made available when he released aspects of the feasibility study that was done by a Miami-based firm for the project.That study,Cheap Jerseys Free, he also noted, was undertaken years after the government would have already expended hundreds of millions of dollars on site preparation and the rerouting of the sewerage system in the Kingston location.One of the assumptions in the feasibility report for the success of the Marriott Hotel, is Guyana finding crude oil among other economic initiatives.According to Ram, some of the assumptions in the report are speculative and unreliable.“Under normal circumstances and using any rational yardstick,NBA Authentic Jerseys, the usual adjustments for the uncertainty of the assumptions would rule out the investment…No wonder then that Brassington is now admitting that it is a difficult sell.”Ram said that if Brassington had not been so stubborn,Wholesale Jerseys Free Shipping, he would have realised that the Marriott Project was always a difficult sell.“Now, having led the country into a speculative investment, Brassington has to give away the Hotel to an investor whose identity he remains unwilling to disclose but who,Cheap Jerseys From China, like Sithe Global, wants for its investment, a disproportionate share in the equity of the company.”Head of State Donald RamotarSpeaking to the extracts that have been released from the feasibility report, Ram said, “while generously reproducing the advertisements for investors and contractors, the consultants do not help the reader to ascertain or understand whether the process of their appointment met the requirements of the Procurement Act or they were handpicked by Brassington to do a self-serving study with the scope conveniently defined.”As such, the financial analyst posited that “this leads to the even more serious issue of an unaccountable Brassington running amok with public funds.”He reminded that AHI is a wholly-owned subsidiary of NICIL, a company with the Board of Directors comprising several members of the Cabinet, including the Minister of Finance as Chairman, and the Head of the Presidential Secretariat.“Incredibly the Board has appointed Brassington as the sole director of a Government company…It boggles the mind that this Board can elect one man – Winston Brassington, whose record of integrity and competence have been subject to sustained challenges – as the sole Director of AHI.”Ram explained, “in his role as the sole director of AHI, Brassington has been given complete control over billions of dollars of public funds, the power to commit the country to a US$58M contract that excludes Guyanese from the work pool, and the sole discretion of what information the public should be given.”He said that what makes it even worse is that the only other officer of the company (AHI) is an employee of the company of which Brassington is the executive head.Ram was referring to the Deputy Head of NICIL, Marcia Nadir Sharma, who is also the Deputy Head of AHI,Artemi Panarin Jersey, a company created by Brassington to build the Marriott Hotel.Former President Bharrat JagdeoAccording to Ram, “together they have failed to submit any annual report to the National Assembly or the Registrar of Companies, since the company was incorporated in 2009.”Ram said that the Marriott project is one where former President Bharrat Jagdeo and Winston Brassington, “have led us into a ‘cul de sac’ from which there is no easy exit.”He said, as the prestige projects conceived by Jagdeo and now so carelessly continued by President Donald Ramotar,Andre Branch Dolphins Jersey, have come under the microscope, their structures have proved porous and costly.Amaila, he said, topped the list for press coverage, no doubt because of the huge sums and the politics involved.He said too that to make the Berbice Bridge avoid insolvency, NICIL gives up G$104M annually and another G$10M in interest.“Collectively, the framing and financing of these projects represents a scandal of national proportion.”According to Ram, while the President’s defence of public officials is commendable when justified, it is improper for him to publicly abuse citizens, particularly when his government has made no effort to engage those making the criticisms.“He (Ramotar) should try to understand that all is not well over at NICIL and AHI, and should do something about those entities.”Executive Head of NICIL and AHI, Winston Brassington