As of Tuesday, 1 September 2026, new details have emerged regarding an outstanding property tax debt tied to the business affiliate of one of Guyana’s main political opposition groups. Multiple informed sources confirm that Maikwak Limited, the commercial arm of the People’s National Congress Reform (PNCR), currently carries an unpaid rates and taxes liability of between GY$20 million and GY$25 million connected to its Congress Place property.
The current debt figure comes after a comprehensive reassessment of the account carried out earlier in 2026, which cut a previously reported massive debt of roughly GY$6 billion down to the smaller current sum. Accounting adjustments that drove this reduction include a series of interest waivers granted to Maikwak over multiple years that had not been properly incorporated into earlier debt calculations. Sources note that the company had already made payments aligned with the approved waivers, and the updated assessment simply corrects the historical accounting error to reflect the accurate outstanding balance. As of press time, full details of the total amount Maikwak has paid to date have not been publicly released.
There remains a split in official positions regarding the debt: while one insider insists the PNCR-affiliated firm must immediately settle the full outstanding amount, a senior City Hall official confirmed that no formal payment demand has yet been served to Maikwak for the adjusted balance.
In a separate development, City Council has recently implemented a broad change to its debt calculation rules, scrapping the long-standing policy of daily compound interest on unpaid taxes in favor of a simpler simple interest structure. However, council insiders confirmed this new, more lenient regime will not be applied retroactively to Maikwak’s debt. The firm is not eligible for the adjusted interest terms, and officials have ruled out any further consideration of extending the policy to this account.
The news comes just one week after PNCR leader Aubrey Norton publicly announced that the party’s business arm had been reactivated to generate critical internal revenue for the political organization, bringing new public attention to the entity’s financial standing.