The construction company which had been working on the Parika Market when it went up in flames will rebuild it at no additional cost to the government, according to the Minister of Local Government, Nigel Dharamlall.

Panko Steel Fabrication and Construction Company had been working on the second phase of the expansion of the market in February when sparks from its welding ignited flammable items from one of the stalls. The entire market was ravaged by the ensuing inferno.

Dharamlall said that the company has committed to rebuilding it in four months.

“They have a standing contract and whatever losses that was incurred as a result of the fire, they have to cover it… we don’t have an additional contract,” the minister told the Sunday Stabroek when contacted last week.

The incident has raised questions as to what happens in the aftermath of a contract being upturned by a major event such as a fire particularly if the contractor might be liable.

Last year December, Panko was awarded a $270 million contract for the second phase reconstruction of the market. The contract was signed between a representative of the company and Permanent Secretary of the Ministry of Local Government and Regional Development, Prema Ramanah-Roopnarine.

Last week Monday, Chairman of Region Three, Inshan Ayube, told this newspaper that the company had committed to rebuilding the market within a three or four-month timeframe.

This newspaper reached out to the company and a representative promised that he would have a spokesperson return a call. However, up to press time, that person had not done so.

On February 10 at about 3:14 pm, a massive fire erupted destroying millions in stock, such as clothing, jewellery, electronics, food items, and much more,

which were being sold by over a dozen vendors both in the market complex and along the roadside.

A report from the Guyana Fire Service had concluded that the fire was a result of welding sparks coming into contact with combustible materials. Many vendors had recalled hearing what sounded like explosions prior to the huge eruption. According to the vendors, a stall which allegedly sold squibs and other fireworks was located beneath the ongoing welding works, and it is felt that those were the combustible materials that were ignited by the welding sparks.

While bidding documents required the company to pledge insurance, it was to cover their bid security and not a disaster. For this reason, they are now solely liable for the completion of the promised works.