Bridgetown.
The Barbados Investment Development Corporation (BIDC) is trying to recoup millions of dollars in arreas of rent.
A 2010 report released last year showed the Government agency was owned $7.4 million in arreas. Chief Executive Officer of the BIDC, Dr Leroy McClean told Trakker News the Corporation is discussing the arreas on a case by case basis with tenants in an effort to recover the money.
"The arreas are big, we know that but we cannot have a blanket policy toward them. We try to encourage those who can afford rent to pay it . Those that are in arreas, we try to have some sort of facility whereby they can pay their current expenses while we are trying to get the company back up", says McClean.
" Many of the manufacturers are having serious financial difficulties now because of the current economic crisis, so we are looking at it on a case by case basis", he added.
The BIDC manages 12 industrial estates comprising 70 commerical buildings, in addition there are eight building which house 27 craft shops and a restaurant.
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