Parliament approves $33M for Casique
Stabroek News
January 20, 2007
The Committee of Supply of Parliament yesterday voted for a provision that would see the Casique Suites and Banqueting Hall being advanced a sum of $33M, in the same way Buddy's Hotel received an advance of $168M in the form of room purchases for the Cricket World Cup.
Parliament at the time was going through the provisions of Financial Paper No. 5/2006 for current and capital estimates totalling $1.721 billion for the period November 18 to December 31, 2006.
Minister of Sport Dr Frank Anthony said that the money being voted is for the new hotel which is in close proximity to Buddy's Hotel in Providence. The latter hotel is very close to completion while concern has been voiced about Casique's prospects for completion in time for the World Cup matches.
President Bharrat Jagdeo at a press briefing late last year said that the Govern-ment sought to secure the rooms as a condition of the ICC for the World Cup and as such opted to purchase the rooms in advance. He also noted that the two hotels had been having bridge financing issues and as such the money was being used to rectify these as well.
Questions have been raised as to why Buddy's and Casique are unable to complete their projects using their own funds.