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Public expenditure on Marriott hotel must stop immediately – AFC
The Alliance For Change (AFC) is of the opinion that the continued spending of taxpayers’ funds on the Marriott Hotel
David Patterson, AFC General Secretary
project by the National Industrial and Commercial Investments Limited (NICIL) is a clear reflection of government’s disregard for the spate of public outrage on this project. Hence, the party has made a strong call for all spending to be stopped immediately, until it can be ascertained which entity or who is funding the project.
The political opposition party by way of its General Secretary, David Patterson recently stated that the revelations in the public media that both the Hong Kong investors and Republic Bank have not paid the promised amount (US$8M and US$27M respectively) leaves the public to raise questions as to the sourcing of the continued expenditure.
Patterson said that “The Donald Ramotar administration” has a duty to this nation to come clean and ensure complete transparency and accountability of public funds. He said that the Guyanese people are the highest taxed and poorest in the region and bemoaned the way the current administration chooses to “launder our taxes.”
Patterson said that his party condemns the continued expenditure of public funds on this project and requested from President Donald Ramotar several things.
As it relates to the management agreement with Marriottý International, Patterson said that the AFC needs to know the commitments the Government of Guyana is giving the Marriott, namely; management fees, tax holidays, duty free exemptions, etc. It also would like to know how initial losses, branding cost and the high powered expatriate management team assembled are covered. Patterson asserted that the party’s suspicion is that the losses will be met by the poor Guyanese taxpayers.
Patterson said his party is requesting the Sale/Purchase agreement with Ace Square for the 67percent of Atlantic Hotel’s Sharesý. Bank records for the payment of the US$8.0M and a clarification on the continued involvement of Winston
Head of NICIL,
Winston Brassington
Brassington and his role in this project.
Patterson said that the AFC is also requesting the amounts spent to date, amounts committed to be spent to completion and sources of suchý funds as well as the completion date.
He added, “Upon a new dispensation after new elections early 2015, it (the AFC)will not be fettered by the agreements signed on to by the People’s Progressive Party administration or its instruments, namely, Brassington, NICIL, or Atlantic Hotel Inc. It will revoke all such agreements entered into, after an independent audit of this project.”
It has been reported that the Georgetown Marriott Hotel which is being constructed in Kingston, Georgetown is yet to be boasted by funding from its private investors, US$8M or the Republic Bank syndicated loan of US$27M.
To date, the only official source of funding has been the National Industrial and Commercial Investments Limited (NICIL). It has officially expended almost US$20M building the Marriott Hotel.
Kaieteur News has learned that Ace Square Investments is yet to put in a single dollar, while Winston Brassington is busy trying to borrow a huge sum from a Trinidad Bank to help pay off the contractor who built the hotel with purely Chinese labour.
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