By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

Opposition leader Mr Michael Pintard has sounded the alarm over a $10m government loan issued to Carmichael Village Project Development Company Ltd — a firm not in good standing with the Registrar General and allegedly failing to meet legal obligations.

Speaking in the House of Assembly on Wednesday, Mr Pintard accused the Davis administration of acting with “open contempt for good governance, legal compliance, and sound financial management”.

He questioned how a company formed in 2022, now flagged for non-compliance, could quietly receive millions in public funds. “And yet this government has quietly handed them $10m in taxpayers’ funds, with no public explanation, no press release, no mention from the Minister of Housing,” Mr Pintard said.

According to Mr Pintard, the loan was not publicly disclosed. “This was not a small grant or a footnote. It was a multi-million loan buried on page 30 of the Ministry of Finance third quarter debt bulletin report,” he said.

He pointed out that the same report classifies Carmichael Village Project Development Company Ltd as a government business enterprise—raising serious governance concerns. Mr Pintard said such entities are required to have a full board, operate transparently, and meet reporting obligations—none of which have been disclosed.

“Where is the board? What is the mandate of the board? What are the terms of the loan? Why has it been kept from the public?” he asked.

Mr Pintard also questioned the necessity of creating a new company to carry out functions already mandated to the Ministry and Department of Housing. “The biggest question of all is why does the government need a shell company to do what the Ministry and Department of Housing are already mandated to do?” he said.

He warned that if the company is not wholly government-owned, then questions must be asked about the true beneficiaries and why public funds were channelled in this manner. “And if the facts demonstrate that this is not a wholly owned government entity but a private company, then there are more serious questions that would have to be answered around the beneficial owners of the company,” Mr Pintard said.

He stressed that the Prime Minister cannot claim ignorance, as the Public Debt Management Act gives sole lending authority to the Minister of Finance — who is also the Prime Minister. “It is important to note, too, that the prime minister cannot now swoop in and try to suggest that he is unaware,” Mr Pintard said.

“The government must now come clean and tell the whole story about its relationship with the Carmichael Village Project Development Company Ltd and all the players involved,” he said.

“The public needs answers. On this one, we cannot afford to wait and see,” Mr Pintard added.