Thank you, Mr. Chair. When we first entered into the contract with the supplier, we contemplated hedging, but there are some risks involved in terms of entering into hedge, and there are some expenses to do it. When the dollar started dropping in relation to the American dollar, it was dropping so fast that the benefits of a hedge were no longer actually there. So, by the time we actually thought about it, it was too late because the dollar had dropped so fast, so quickly. In the future, what is going to be suggested is that we actually build sufficient contingency into the project budget to deal with these types of currency rate fluctuations. Thank you, Mr. Chair.
Mr. Kalgutkar on Consideration in Committee of the Whole of Bills and Other Matters
In the Legislative Assembly on March 6th, 2017. See this statement in context.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
March 5th, 2017
Kalgutkar
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