Payment to farmers…
THE special $300M loan facility approved by a local bank for Mahaicony Rice Mill (MRM) to make outstanding payment to farmers has not yet been disbursed to the company’s principal, Mr. Jai Beni.
But, in an invited comment, General Manager of the Guyana Rice Development Board (GRDB), Mr. Jagnarine Singh said all hopes are that the money becomes available sometime this week.
He said the GRDB is working with all stakeholders, including the bank which he did not name, to support farmers as best as possible.
“We are trying to do everything possible to pay the farmers. If we had the money, we would have tried to work out an arrangement to have them paid. But the Board is not in such a position,” Singh admitted.
He said, currently, GRDB assistance to farmers include the facilitation of legal aid for those who wish to go that route.
Meanwhile, it has been reported that Beni has left the country and repeated attempts to contact MRM General Manager, Ms. Tara Ghani, has proved futile.
MRM, reportedly, buys 40 per cent of the paddy produced in Guyana and has mills across the country.
It had signed agreements with farmers to make half the payments after the first 14 days of produce receipt and the rest after 41 days, with delays attracting two per cent plus the current lending rate at banks as interest.
However, MRM has not lived up to the arrangement and some of those owed have moved to the Court.