Enrico Woolford reports:
The ruling party sold a major commercial venture GIMPEX that it had since it was first in Government in the early 1960’s According to the Registry documents, GIMPEX on Regent Street was sold, ironically, to the wife of a publisher whom the President is now calling a “Vulture and Carrion Crow”.
The ruling party received one million US dollars for the sale to Mrs.Bhena Lall the wife of Publisher of Kaieteur News Glenn Lall nearly three years ago. But that is not the whole story, Capitol News has learned that Lall only bought a part of the complex for that sum on paper, the ruling party is about to transfer the other part Lot 105 to outgoing officers in the current administration. A five story complex is being planned for the site on Georgetown’s busiest commercial street.
The tenants in the current complex have been asked to remove from the complex to allow for the construction of a Mall.
GIMPEX was originally acquired following insolvency proceedings of the estate of Joseph Jardim in 1962 when the Founder Leader of the ruling party Dr Cheddi Jagan was in office. The complex was bought then nearly fifty years ago for about 25 thousand US dollars. As noted it fetched one million US dollars three years ago according to the transport records.
Now whoever will get it when they leave office will benefit from the commercial venture! Could this be a “Pension from the State and a Pension from the PARTY”
The ruling party sold a major commercial venture GIMPEX that it had since it was first in Government in the early 1960’s According to the Registry documents, GIMPEX on Regent Street was sold, ironically, to the wife of a publisher whom the President is now calling a “Vulture and Carrion Crow”.
The ruling party received one million US dollars for the sale to Mrs.Bhena Lall the wife of Publisher of Kaieteur News Glenn Lall nearly three years ago. But that is not the whole story, Capitol News has learned that Lall only bought a part of the complex for that sum on paper, the ruling party is about to transfer the other part Lot 105 to outgoing officers in the current administration. A five story complex is being planned for the site on Georgetown’s busiest commercial street.
The tenants in the current complex have been asked to remove from the complex to allow for the construction of a Mall.
GIMPEX was originally acquired following insolvency proceedings of the estate of Joseph Jardim in 1962 when the Founder Leader of the ruling party Dr Cheddi Jagan was in office. The complex was bought then nearly fifty years ago for about 25 thousand US dollars. As noted it fetched one million US dollars three years ago according to the transport records.
Now whoever will get it when they leave office will benefit from the commercial venture! Could this be a “Pension from the State and a Pension from the PARTY”
