Minister of International Business and Industry, the Honourable Ronald Toppin, has pleaded with tenants of the Barbados Investment and Development Corporation to pay the millions in rent owed to that agency.
Speaking in the House of Assembly this evening on the 2021-22 Estimates of Revenue and Expenditure, Toppin drew attention to one tenant who owed $1.2 million, while still occupying the BIDC’s property.
“Fair is fair…,” he said. “Please pay your rent.”
He was supported by Acting Chief Executive Officer of the BIDC, Dwayne Stuart, who revealed that the total amount outstanding, including what was written off in recent years, was $12 million.
He revealed that in a number of instances other potential tenants who are operating successful businesses, had expressed interest in the spaces, but because delinquent tenants continued to occupy them, they could not assist.
Giving further details of the problem, BIDC chairman John Rocheford, spoke of another tenant who owed the corporation $944,000, one who owed $861,000, a third with $794,000 outstanding and a fourth over half a million dollars, all while still operating from the spaces.
He said their inability to collect rent severely compromised their capacity to fund development projects, as well as upgrade and maintain the existing plant.