EMBATTLED Mahaicony Rice Limited (MRL) has said it is confident that its difficulties will soon be overcome.
In a press release, that said it will honour all its obligations, MRL said, as the largest rice miller in Guyana, doing business here since 1991, it remains committed to the development of the industry. The release said MRL fully supports the Government and its agencies in developing the industry and expressed appreciation for its support during a difficult period.
MRL said it continues to be in discussion with Agriculture Minister Robert Persaud, with the intention of settling all the issues.
The Minister recently disclosed that a class action lawsuit is to be filed against MRL, in the quest of having rice farmers’ debts paid.
He said the Ministry continues to engage the company but the legal route is now the way to go, considering the distress of farmers whose livelihoods depend on the payments.
It is estimated that MRL owes farmers $300M but an audit team, trying to get an accurate picture of the company’s indebtedness, was denied access to the accounts records and that matter is now being attended by the Director of Public Prosecution (DPP).
MRL said it does not oppose the auditing but has concerns, which include the confidentiality of the process, the protection of its business and those of families.
“Mahaicony Rice Limited has raised these issues with the Guyana Rice Development Board (GRDB) but they have not been addressed,” the statement said.
It added that the company is seeking a joint approach with GRDB, to get direction about  the conduct of the exercise, so as to protect the confidentiality of it.
“Such directions can be given by the Courts in Guyana. Mahaicony Rice Limited fully supports the audit but the process needs to be clearly defined,” the statement said.

Assurances
In an invited comment, GRDB General Manager, Mr. Jagnarine Singh said, at a meeting with the MRL’s Principal, Mr. Jai Beni, all assurances of confidentiality were given.
He said the audit is being done by GRDB’s internal auditors, professional people who have done such work also for other Agriculture Ministry agencies.        
Singh said MRL’s refusal to hand over the necessary information is now a Police matter and GRDB will abide with the outcome.
He maintained that the GRDB request for information to conduct the audit is a lawful one and in accordance with Section 10 (1) of the Rice Factories Act.
Singh claimed the MRL statement is a diversion from the real issue at hand.
He declared:“Mahaicony Rice is playing games. The issue is to pay the farmers what is owed to them. That is what is important.”
Singh said the non-payment of farmers is not a new problem but a perennial bugbear.
“Every crop, they pay farmers late and then they make promises and, next crop, there is the same problem,” he noted.