Some folks were puzzled the Muckraker’s still tearing down the Marriott investment even though the PPP Government that built it, has been out of office for two and a half years. Hellooooo!!! If AHI owns the hotel and NICIL owns AHI and the Government owns NICIL, doesn’t the present PNC-led Government own the Marriott? But you see where this is heading, don’t you, dear reader?
Most recently, they’ve been harping on the US$27 million debt to Republic Bank that the Government recently started servicing. If the Government hadn’t started servicing the loan – which is like a mortgage, (to all you homeowners out there) – then Republic would’ve been able to sell off the Marriott to recoup its US$27 million. But as you homeowners know, the property, in this case the Marriott, is worth MUCH MORE that the mortgage/loan.
The Government doesn’t just have the debt – IT HAS THE PROPERTY!!! So what the Muckraker was angling for was for one of friends pick up this prime piece of real estate dirt cheap!
In their latest salvo, the Muckraker revealed as much when they griped that the contract to obtain the Marriott brand by AHI forbid the sale of the hotel to any competing brand!! And we know who wants to pick up the brand, don’t we? Think of that AFC financier who was on the FUCOP committee (Fund for United Candidate for Opposition Presidency) with the Muckraker. And who owns a hotel. Wink…wink…
But while the Government hates the PPP guts, it has its own connivers. Even right now, without the critical Entertainment Complex – the Marriott’s clearing its operational expenses. With the Exxon investment coming on stream and investors flocking to Guyana like flies to exposed honey, the Marriott’s worth at least THREE times that US$27 million right now.
Quick now…if you were a foreign visitor with big bucks and forced to choose between the Marriott and all the other hotels to rest your head, which one would you choose?
So, to the consternation of the Muckraker, the Government’s looking for a PPP arrangement (Public Private Partnership NOT People’s Progressive Party!!) to complete the Entertainment Complex. As predicted by the PPP when they went out on a limb to complete the Marriott – this will generate much more revenues than needed to service the Republic bank loan.
As one director was quoted as saying, the Marriott will then become a CASH COW!!
One owner of a security firm just complained about corruption in contracts being awarded in his sector – in addition to infrastructural projects. He’s not alone – pick a sector, ANY SECTOR, scratch the surface and you’ll see rampant, corruption oozing out.
What do you call appointing geriatrics to run (run down?) GuySuCo when in their BEST years, they merely pencil pushers?
Let’s not even mention procurement in pharmaceuticals or pharmaceutical warehouses!! The PNC dominated City Council of course, has set such new lows for conniving and corruption it’ll take a most adept limbo dancer to beat them!! The English statesman Lord Acton once famously observed that “Power corrupts, and absolute power corrupts absolutely.”
What this government has done in only two and a half years is to turn Acton on his head by proving that “corruption is power and absolute corruption is absolute power”.
But then the PNC had 28 years of practice during their first stint in office, didn’t they?
After the outcry following two sitting Ministers (with their mega-salaries) and all kinds of insiders being awarded Government scholarships, a named panel was established to screen online applicants. But not who’ll make the final cut.
Could we at least get the names of new 500+ scholarships awardees?