– Winston BrassingtonThe fact that the Guyana Power and Light Inc. (GPL) is losing money and requires subsidies from the National Treasury to sustain its operation, coupled with its struggle to meet the high cost of fuel, is a clear indication that the company can barely afford to pay a five per cent inclusive increase much less a union-demanded eight per cent across the board increase.GPL Chairman, Winston Brassington and CEO Bharat Dindyal (third and fourth from right respectively) are flanked by other officials at the press conferenceThis assertion was made yesterday by Chairman of the power company, Winston Brassington, during a press conference in the boardroom of the entity’s Duke Street, Kingston, Georgetown headquarters.The press conference followed on the heels of countrywide strike action by National Association of Agricultural, Commercial and Industrial Employees (NAACIE)-represented employees, which has affected customers in many sections of the country.“The fact that we are offering a five per cent increase which has to be a part of the subsidies from Government, means that we are paying more than we really can afford,Jerseys NFL Wholesale, because we are not making the money,” Brassington stated.Even in light of this state of affairs, he noted that GPL recognises the importance of its workers, and the fact that some level of increases would be expected. For this reason, he said that efforts were made to offer a reasonable increase package. He disclosed that the wage bill for the NAACIE-represented employees is in fact substantial, with the average cost per member being about G$1.7 million per annum.Moreover,NFL Jerseys Wholesale, they represent an average cost to GPL of over $140,000 per month, which is in fact quite high, said the GPL Chairman who noted that “they may argue that they don’t see all of that…that some of it is NIS, some of it is allowances…but that is what it costs the company and that is our real cost for employing them… and it’s a significant number.”The closed GPL New Amsterdam Commercial Office yesterdayNAACIE employees attached to GPL amount to about 700 individuals, thus the wage bill for this faction of workers translate to some $1.5 Billion, Brassington said.“I don’t think any other state-owned entity or any other entity with comparable employees that would have a higher average wage bill for employees,” added Brassington, who revealed that GPL has significant amounts of non-salary benefits that also cost the company, and which contributes to the total wage bill.Moreover, Brassington insisted yesterday that the ongoing strike action can only be considered as “unreasonable” even as he recounted that GPL has over the years enjoyed a good working relationship with NAACIE.He, nonetheless, is optimistic that “in the next few days we will be able to amicably resolve our differences and all of the employees will return to work.”? In his attempt to unveil the facts of the situation, Brassington related that GPL offered a five per cent increase, all-inclusive,Wholesale NFL Jerseys, to NAACIE, an offer which has been rejected, resulting in the strike action.STATING THE FACTSThe GPL Chairman asserted that the offered increase should be taken against the background that in the last six years, substantial increases were paid to employees. He recalled that in 2007, a nine per cent all-inclusive package was offered and in 2008, 2009 and 2010, a six per cent all-inclusive package was made available.In 2011, eight per cent was offered, Brassington added.“These are significant amounts for GPL to pay,” the GPL Chairman stated, even as he reiterated that the finances of the company have not been doing well.Brassington disclosed that the company was in receipt of a subsidy from Government to the tune of $6 billion. Initially a $5 billion subsidy was approved by Parliament and late last year it was increased to the former mentioned amount which was requested.This was however not the first year that Government made available subsidies to the power company, as according to Brassington, subsidies were approved in 2008 and 2011.In addition to that, Government has loaned GPL substantial sums for investment, all of which have to be repaid, thus, Brassington stressed, “GPL as an entity has not been generating the cash flow that it requires and is dependent on the treasury for subsidies for its operation and for its capital investment”.This dilemma, he said, is coupled by the fact that oil prices have been rising,John Gibson, with increases being evident in 2007, 2008 and then in 2011 and 2012. As a result, GPL was forced to spend over $24 billion on fuel alone, representing 83 per cent of the company’s revenue, Brassington disclose