“Selling 422 Crore Rupees Sugar Mill for 84 Crore is Fraud”

761

Accra (Ghana): Ghana’s minority leader Haruna Idrisu said that the sale of Komenda Sugar Mill by the Ministry of Trade and Industry would be complete fraud to sugarcane farmers and as well as to Indian government. He said the decision to sell the Indian government-financed entity has no logic and may damage the existing relationship between the two governments.

Idrisu said the investment into the sugar factory is estimated at $60 million (Approx 422 crore rupees).

Idrisu stated that apart from the initial $35 million which were provided by the Indian government, the Export Development and Investment Fund (EDIF) contributed to constructing the access road to the factory which was $3.5 million.

“Upon understanding that the factory lacked sugarcane to process into sugar, the Indian government provided an additional $24.5 million. This was to assist the government in the development of ancillary irrigation and to support the farming of sugarcane”, he further added.

Speaking during a news analysis program, he questioned Minister for Trade and Industry why mill worth $60 million (422 crore rupees) is getting sold at $12 million (84 crore rupees), when was a competitive bid placed for an assessment of it? Who did the technical evaluation of it?

Three years after the commencement of sugar mill, the factory remains , and in Septemeber 2018, President revealed that the government is in the process of finding a strategic investor to revive the factory. Following which, the Trade and Industry Minister, Alan Kyeremanten told Parliament in April this year that, the factory will be sold to a new investor at a value of $12 million.

LEAVE A REPLY

Please enter your comment!
Please enter your name here