Fankung, I am convinced that you know better than what you portray. An that you understand that a better functioning NAWEC will not only mean better Gambia, but a much greater DEAR LEADER. So the call for a better NAWEC should be seen in that light. Malanding On 1/24/2011 12:48 PM, Fankung Fankung Jammeh wrote: > Hi Mr. Jaiteh, > Thanks for sharing. NAWEC is doing a great job, and this is indicated > by the constant supply of electricity since Professor Jammeh took > power. There are times when foreign forces hinder growth in certain > sectors. And as they pointed out, fuel prices will affect the supply > electricity. > In the same sphere, it is the goal of OUR DEAR LEADER to make > electricity affordable to all Gambians even those in the provinces. Do > you know about the rural electrification project - the first of its > kind in our history > > On Mon, Jan 24, 2011 at 12:37 PM, Malanding Jaiteh <[log in to unmask] > <mailto:[log in to unmask]>> wrote: > > You wonder how the government can convince itself that NAWEC will > continue to afford paying its creditors ( fuel and electricity > suppliers), maintain its generators and at the same time provide > free electricity. I think blaming it on fuel prices is a very > lame excuse since its been 2 yrs (2008) since the arrears have > been accrued. > > Malanding Jaiteh > > > > courtesy: > http://thepoint.gm/africa/gambia/article/nawec-owed-over-d150m > > > NAWEC owed over D150M > > africa <http://thepoint.gm/africa/news> » gambia > <http://thepoint.gm/africa/gambia/news> > Monday, January 24, 2011 > > The National Water and Electricity Company (NAWEC) is currently > owed a whopping sum of D150,000 million, the company's 2008 annual > report and financial statement submitted to the Public > Accounts/Public Enterprises Committees of the National Assembly > has revealed. > > "Although Government has been able to significantly reduce its > arrears owed to the National Water and Electricity Company (NAWEC) > through a cross-settlement arrangement, there still remains more > than D150 million owed to the company by others," the report, > which was submitted last Wednesday, stated. > > According to the report, the amount owed by the local area > councils and some few Government institutions account for more > than 70% of the total arrears. "Thus, it is hoped that the > on-going Government intervention may go a long way in assisting > the company to recover a substantial part of the arrears, which > will also, undoubtedly, go a long way in reducing liquidity > problem of the company," the reports added. > > The NAWEC report further states that given that the cost of sales > is more than the total revenue for 2008, there is an anticipated > loss of more than D200 million for the year. This, it said, is due > to the unprecedented increases in the price of oil in the > international market in 2008 which, as a consequence, also > increased the operating costs of the company as well as invoices > amounts of the Global Electrical Group. > > Besides the huge loss for 2008, the liquidity situation of the > company has also not been very good and the company has been > finding it difficult to meet some of its loan repayment, the > report notes. > > It also stated: "Fuel prices in 2008 have adversely impacted on > the overall financial performance of the company and on its > liquidity in particular. For instance, in 2007, NAWEC spent D241 > million and D639 million on fuel and lubricants and energy > purchases respectively. However, in 2008, D480 million was spent > on fuel and lubricants and D825 million on energy purchases, thus > representing an increase of 98% and 29% respectively." > > Despite the impact of the global financial and economic crisis, > the report went on, revenues of the company increased by a > marginal 4% in 2008 to D1.3 billion from 2007. Electricity sales > alone, it added, account for more than 86% of the total revenue. > "The increase is partly due to the existing policy of installing > only prepayment meters for new applications and replacement of > existing credit meters," the report noted. > > It further stated that the challenge of NAWEC over the past couple > of years has generally been to access sufficient financial > resources to be able to procure fuel and pay for energy supplied > by the Global Electrical Group under a Power Purchase Agreement. > "With soaring oil prices in 2008 in the international market, at a > time of global economic and financial crisis, coupled with the > need to repair and overhaul some of the engines at the Kotu Power > Station to ensure the availability of generation capacity, NAWEC > has to borrow significantly from local banks to be able to meet > its obligations to suppliers," the NAWEC report highlighted. > > Author: *Lamin B. Darboe* > > いいいいいいいいいいいいいいいいいいいいいいいいいいいいい To > unsubscribe/subscribe or view archives of postings, go to the > Gambia-L Web interface at: > http://listserv.icors.org/archives/gambia-l.html > > To Search in the Gambia-L archives, go to: > http://listserv.icors.org/SCRIPTS/WA-ICORS.EXE?S1=gambia-l To > contact the List Management, please send an e-mail to: > [log in to unmask] > <mailto:[log in to unmask]> いいいいいいいいいい > いいいいいいいいいいいいいいいいいいい > > > > > -- > * > ******************************************************************************* > GOD BLESS SHEIKH PROFESSOR ALHAGIE YAHYA AJJ JAMMEH* > *(PRESIDENT FOR LIFE.)* > * > * > *GOD BLESS THE GAMBIA* > * > * > *GOD BLESS APRC* > * > * > *DOWN WITH THE FAILED OPPOSITION * > > ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ To > unsubscribe/subscribe or view archives of postings, go to the Gambia-L > Web interface at: http://listserv.icors.org/archives/gambia-l.html > > To Search in the Gambia-L archives, go to: > http://listserv.icors.org/SCRIPTS/WA-ICORS.EXE?S1=gambia-l To contact > the List Management, please send an e-mail to: > [log in to unmask] > <mailto:[log in to unmask]> > ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ > ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ To unsubscribe/subscribe or view archives of postings, go to the Gambia-L Web interface at: http://listserv.icors.org/archives/gambia-l.html To Search in the Gambia-L archives, go to: http://listserv.icors.org/SCRIPTS/WA-ICORS.EXE?S1=gambia-l To contact the List Management, please send an e-mail to: [log in to unmask] ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤