VP Jagdeo criticises G/town City Council for failing to collect PNC’s $6.4B debt amid workers’ strike

Vice President Dr. Bharrat Jagdeo on Thursday called attention to a significant revenue source that he claims could help resolve ongoing financial issues in Georgetown, including the payment of striking city workers.

Speaking at his weekly press conference, Dr. Jagdeo stated that the City Council has failed to pursue a $6.4 billion debt owed by a company affiliated with the People’s National Congress Reform (PNC/R), which has not paid taxes for years on its properties in Georgetown.

According to Dr. Jagdeo, the money owed by the PNC-owned company includes taxes for Congress Place at Sophia. Despite demand letters reportedly prepared by the City Council, the debt remains unpaid, and Dr. Jagdeo argued that the City Council has not taken sufficient action to collect it.

The Vice President pointed out that the central government has been providing substantial support to the city, including financing key infrastructure projects such as roads, drainage, recreational facilities, and green spaces—efforts running into billions of dollars. However, he suggested that the City Council’s refusal to pursue the owed taxes has exacerbated the financial difficulties faced by the city.

Dr. Jagdeo also criticised the City Council for leasing properties to the PNC at what he described as “unbelievably low rates,” with some properties reportedly rented out for as little as $100,000 per year.

He questioned the council’s priorities, suggesting that if the council were serious about resolving the city’s financial troubles, it would focus on recovering the debt rather than continuing to lease properties at below-market prices.

In response to the ongoing strike by city workers, Dr. Jagdeo urged PPP councillors in the City Council to advocate for the collection of the outstanding $6.4 billion. He argued that the revenue could alleviate the financial burden on the city and help address the concerns of workers and residents alike.