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Haitian electricity firm "technically bankrupt", says director

- Actualite - 2004 -

Date de mise en ligne : lundi 27 dcembre 2004 Date de parution : 26 dcembre 2004

Description :

Electricity of Haiti (Ed'H) is technically bankrupt, according to the firm's new director-general, Jean Errol Morose, who has drawn up a worrying inventory.

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Haitian electricity firm "technically bankrupt", says director

Electricity of Haiti (Ed'H) is technically bankrupt, according to the firm's new director-general, Jean Errol Morose, who has drawn up a worrying inventory.

Morose revealed at a news conference on Thursday 23 December that on 30 September Ed'H's accumulated debt had exceeded 755m gourdes. He mentioned several reasons for this disastrous situation. These included high rates, failure in commercial management, pitiful production and a tendency for customers to produce their own energy.

According to Mr Morose, fixing Ed'H will require a state subsidy or the realization of international promises made within the framework of CCI (Interim Cooperation Framework).

Ed'H is on the list of public firms to be modernized in the state's 1996 privatization programme.

While it waits for relief, Ed'H's leadership has announced an improvement in the distribution of electricity for the end-of-year festivities in the capital and the provinces.

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