Fiji’s Sugar Industry Minister, Charan Jeath Singh, has announced that a comprehensive revitalization of the Fiji Sugar Corporation (FSC) will necessitate a $500 million investment over the next five years, reports FBC News.
Addressing parliament, Minister Singh stated that the substantial funding will be allocated towards acquiring new plant materials and essential equipment. He underscored the critical need for immediate repairs to the mills to ensure the industry’s operational efficiency.
Singh also criticized past project funding obtained from international banks, noting that the current government is burdened with high interest rates as a result. He described those previous projects as “costly and proven futile.”
Furthermore, he revealed that corporate claims from the previous administration had incurred a staggering $31 million in costs for the FSC. “The truth is that FSC is bleeding left, right and centre and this is the very people responsible for this homicide,” Singh asserted.
The current government’s objective, according to Singh, is to restore the sugar industry to its former prominence. He emphasized that the primary focus will be on repairs and maintenance to put the industry back on a sustainable path.
