We’re a country with a small land mass. CEB used to be the only electricity producer when one private concern under the first Navin Ramgoolam government was allowed to join that market. And then Federation II took power and that strategic institution was declared broke to allow more abusive and confidential contracts to be signed in the back of the citizens of this country.
And then in November 2007 Ramgoolam went through his tarzan-like-chess-thumping routine to say that this couldn’t go on and that he’d change his name if he would allow the good people of Mauritius to be subjected to this kind of rip-off. Even Bérenger said that the rates of return of the IPP were too high and he suggested a 10% rate to maintain a facade of credibility after sitting on his hands when he was Prime Minister.
I am not too sure 10% is the right number. The discipline of establishing a fair rate of return in these particular cases is well established and can be used to determine the amount of money that has to be returned to the people of Mauritius through the CEB. What I am sure of though is that
1.Contracts involving billions of rupees of public funds cannot be confidential and more importantly they cannot be abusive.
2.CEB should again take the lead because it belongs to every citizen of this country.
3.This matter could have been resolved very quickly. Going forward, it can be resolved in a week.
4.Abusive energy prices have along with the other blunders of Sithanen made Mauritius a more vulnerable and less competitive country.
Does Ramgoolam want to keep his name?
SANJAY JAGATSINGH