Gov’t moves to recover arrears from Ed Ahmad

Last Updated on Monday, 14 December 2015, 15:06 by GxMedia

The land at the corner of Vlissengen and Thomas Roads.

State Minister Joseph Harmon says that the Guyana Lands and Surveys Commission (GLSC) has been asked to recover close to $3.5M in arrears from Edul Ahmad for a piece of property leased to him for $500,000 annually in 2008.

The lease was granted to Generation Complex Inc; whose principal is Ahmad, for the construction of a 150-room hotel, restaurant, bars, club and casino at a cost of US$75 million.

However since Ahmad acquired the land under Jagdeo’s Presidency only one payment has been made.

“I have asked lands and surveys to demand arrears payment from the company from 2009 to 2015 and the lease is now terminated from December 1st 2015,” said the Minister.

Harmon was affirmative that despite statements from Former President Bharrat Jagdeo, the land deal was not cancelled and urged that Jagdeo put forward evidence to support his claim.

“I can support what I have said by producing to you a lease that has not been terminated. So if Mr Jagdeo is saying it was terminated let him produce the documents. I am asking him to produce the evidence that the lease was terminated,” said Harmon.

The lease had also given the company the option to purchase the land at any time for US$97,561 dollars during the life of the lease provided that the construction and investment are at least 60 percent completed at the date of interest expressed to purchase.