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The Private Sector Commission is resisting moves by the Opposition to reduce the tolls of the Berbice Bridge.The business body has made it clear that it is against this form of “non-regulatory interference” which if allowed will have an impact on future investments of a similar nature in the country.Parliament’s largest Opposition faction, A Partnership For National Unity (APNU), recently signaled its intention to seriously pursue moves in the National Assembly to reduce the tolls which it felt was too high.However, PSC pointed out that the fact that there is no Government investment, save for the National Insurance Scheme (NIS), it will be a tough task.The business community has warned against moves to reduce tolls on the Berbice Bridge saying Government has no direct investments in it.“The Berbice Bridge Company is owned 80% by Guyanese private sector interests, including pension funds and 20% by an institutional investor, the National Insurance Scheme (NIS), that also holds non-voting preference stock in the company and provides one of the few opportunities for a good investment return on Guyanese workers’ NIS contributions and may also be considered critical to the future life of the scheme.”PSC said that as far as it is aware, the Government directly or indirectly has no investment in, or liability relating to the bridge at this time.PSC argued that the Bridge Company attracted investment by offering a minimum return to investors who were prepared to take the financial risk.“This must not be interfered with. The company’s safety and maintenance records are well above average, as are customer facilities at both ends of the Bridge. The company is managed by a Board of Directors representing the investment interests; no one Director can determine or undermine the decision of the full Board,Wholesale Authentic NFL Jerseys, Government or not.”The business body said it supports private investment of this nature in national projects, but the ability to attract this type of investment demands confidence in the future of the economy and low capital risk.Recently, APNU’s Member of Parliament, Joseph Harmon, announced that it has amended a motion to reduce the tolls, in anticipation that it will be argued by Government that the bridge company is a private one.The Opposition will be banking on arguments that the responsibility for establishing the toll order falls within the purview of the Minister of Public Works and is provided for in the Berbice Bridge Act of 2006.The MP also pointed out that the Government, which has shares within the Bridge Company through the National Industrial Commercial and Investment Limited (NICIL) and NIS, would have a Director sitting on the board who must be able to articulate on government’s behalf for a reduction in the tolls.The Opposition has been pushing for a reduction of the tolls saying that many Berbicians and commuters are complaining over the high costs required to travel over the bridge. Harmon had said the fact that the tolls were reduced in August for a “holiday special” is evidence that the company can reduce tolls and still remain viable.“The reductions which we have proposed are reductions which the management itself had undertaken in the period of August between the 1st and 12th…they said they were responding to criticisms which were made by the opposition political parties and that they are also responding to that …what they were going to do is implement a holiday special for that period…Our belief however is that because that period coincided with the PPP Congress that was held in Berbice, they deliberately reduced the tolls to facilitate movement by their PPP comrades across the bridge…So what we are saying is that if it can be done then it should be done for all the people not just for the PPP Congress.”In addition to NIS, investments had come from the Government-owned NICIL, Hand in Hand Trust and CLICO. Queens Atlantic Investments Inc, a company headed by Dr. Ranjisinghi ‘Bobby’ Ramroop, a close ally of former President Bharrat Jagdeo and the New Building Society were reportedly drawn in after CLICO collapsed.There have been accusations that investments were structured to ensure that certain investors were guaranteed returns from the investments.The Opposition believed that the bridge would have paid out over $1.5B in dividends to its shareholders over the past five years.With a car being charged $2,200 return, the Opposition is hoping to reduce this by half and also make this across-the-board for other categories of vehicles.The 1.5 kilometre bridge, costing around US$40M, stretches from D’Edward Village on the western bank of the Berbice River to Crab Island on the eastern side.