Gov't to recover Long Pond, Monymusk rescue money - Samuda
Agriculture and Commerce Minister Karl Samuda, said the Government will be moving to recover monies spent to keep the Long Pond and Monymusk sugar factories opened.
The administration temporarily took over operations of the private factories last year to avert a fall out in the industry, pumping millions of dollars into the sector.
In his contribution to the Sectoral Debate in Parliament yesterday, Samuda said the situation remains dire.
According to him, Monymusk is not viable in its present state as the factory is operating at less that 20 percent of its capacity.
IN PHOTO: Karl Samuda
He said cane fields have been totally destroyed and would take at least five years to be brought back into production.
The Agriculture and Commerce Minister said the Long Pond factory needs major repairs and cane fields need major replanting and resuscitation.
Samuda also said the administration will be significantly scaling down its intervention at Long Pond and Monymusk, only providing a $50 million subsidy to underwrite the cost to transport cane to either Worthy Park, Appleton, or both.
And he said the Government will be insisting that it is repaid the funds spent to help the factories stay afloat.