The Opposition National Democratic Congress (NDC) has condemned a decision by Government to absorb the cost of a private business venture. Speaking to members of the media on Tuesday, leader of the Opposition, Hon Tillman Thomas, described that action as “an abuse of Government” and “exploiting the taxpayers” of this country. Hon. Thomas said, according to information they have, a recent cabinet conclusion had directed that the Government of Grenada shall pay FINCOR in excess of EC$2m.

According to reports, a privately owned Company, Dream Builders International, has borrowed monies from FINCOR to import cement from Brazil. The persons involved appear to have made some bad business decisions and now the taxpayers have to bear the burden, Hon Thomas said. It is understood that, to be commercially viable, the cement would have to be sold at $30.00 per bag.

When the cement was checked, it was discovered that it dried very quickly so that the heavy-duty cement mixers could not use it. It is reported that FINCOR is now on the back of Dream Builders International to repay the loan for the cement.

The Opposition Leader said, “it is a classic case of corruption, where public office is being used for private gains.” When asked if there are any plans to protest this action, Deputy Political Leader of NDC, Senator George Prime said “We will do all that is legal” to get Government to rethink its decision.

This action by Government was also described as another Call Centre, where Government also came to the rescue of a private Company in the sum of millions, NDC Leader said. In reference to this cement issue, NDC officials believe that the people of Grenada would not have shared the profits if there were any.