by Linda Straker
- Over 200 buses using services of termini in St George’s and St Andrew
- St George’s Bus Terminus (SGBT) earned less than EC$500,000 in 2020
- 100% waiver of entry fees at St George’s Bus Terminus from March to December 2020
The shutdown of the country in March 2020 when Covid-19 was declared a global public health pandemic resulted in the St George’s Bus Terminus (SGBT) earning less than EC$500,000 for that year. This was the least amount in revenue since the terminal came into operations in 2007.
“In 2020 operations at the SGBT realised total revenue of $479,167 compared to $1,455,243 recorded in 2019, a decrease of $976,076 or 203.7%. This decrease was due primarily to the disruptions caused by the Covid-19 pandemic,” said the 2020 Annual Report of the Grenada Ports Authority.
“The lockdown experienced during this period, April to December 2020, brought no revenue to the terminus for those months. At the same time, total operating expenditure fell marginally from $1,683,376 in 2019 to $1,638,570.” The report shared a comparison in deficit for the year 2019.
“St George’s Bus Terminus recorded a net deficit of $1,159,403 in 2020; this deficit is $931,270 more than the deficit recorded in 2019 which was $228,133,” said the report which will be tabled in the Parliament during the 1 February 2022 sitting of the House of Representatives.
The Report explains that in an effort to provide relief to customers/stakeholders who experienced some level of disruption to their normal business operations and income streams due to Covid-19, the Board Directors approved a 100% waiver of entry fees at the St George’s Bus Terminus for the period March to December 2020.
“Relief in the form of rent suspension during the period March to September 2020 was also provided to the tenants of the Authority who were forced to suspend operations during the lockdown period and experienced further hardships on resumption of operations,” said the report.
The St George’s Bus Terminus is a state-owned enterprise operating under the management of the Grenada Ports Authority. It has operated at a loss since it began operating in 2007. For the period of 2015 to 2019, the records show that total income ranged between EC$1,485,052 and EC$1,455,243 while operating costs have at times gone over EC$2 million.
There are over 200 buses using the services of the termini in St George’s and St Andrew.
The government not know how operate profitable business.
I for one is not on sympathy with the government on this one as they managed this so poor that it seems like they don’t care.
Since 2007 this been operating at a loss but now with covid hitting the economy they have the nerve to disclose the real truth behind this badly managed project.
Remember government now control Grenlec so we know what to expect in the next few years…..you been warned.