The government has deemed as suitable the bond owned by Linden Holdings in Sussex Street, Georgetown, which it contracted to store pharmaceuticals at $1,200 a square foot, when a bond for $228 a square is available. The government said that the rental will be negotiated downwards and if the negotiations are unsuccessful then twelve months notice of termination in accordance with the agreement would be given. At $12 million a month, this will cost the Guyanese taxpayer $144 million, payable to Linden Holdings for an initial $25 million investment which it has already recovered as an initial advance.
The government might make mistakes, as Vice President Ramjattan admitted, but it does not lack an innovative and fertile imagination. The objections to the government-owned Diamond bond, which has been approved as suitable by international agencies, are that a fire can occur and that the traffic situation is not conducive!
These excuses to justify continuing with a horrendously bad deal makes it difficult to dispel the notion
