Fiji Sugar Corporation has not paid any portion of its loan, according to Sugar Minister Charan Jeath Singh. The loan was initially applied for by the Laisenia Qarase government but utilized by the Voreqe Bainimarama administration. Singh explained the loan was intended for upgrading the Lautoka, Ba, and Labasa mills. Speaking to farmers in the Bucaisau sector, Singh criticized the previous administration for not undertaking significant renovation work on the mills.
The minister announced that $15 million of this loan will be paid off to EXIM Bank in India in the new financial year, with specific allocations in the 2024 to 2025 budget for the government to cover the Fiji Sugar Corporation’s budget. Singh also mentioned the loan provider had removed the interest rate component, meaning no interest payments will be required. He emphasized that it is now the government’s responsibility to ensure the loans are fully paid off.