reading kaieteur news today is like…i’ve talked about these ppp girls. mommy ramotar is a bandit, the father a fool & bandit, daughter at gold board, one son &#@ked out $US32 million on the fibre optic cable
the article talks about the fund but it doens’t mention mama ramotar’s name
The forensic audit conducted into the Sugar Industry Welfare Fund (SILWF) for the period January 2012 to May 2015 has highlighted a number of worrying breaches including millions of dollars missing, neglected investment opportunities and a consistent failure to prepare financial statements.
It was noted that these breaches contravene regulations under the Sugar Industries Special Fund Act of 1947.
First of all, the report has shown that for the year of 2008, the audit opinion was inadequate, due to the misappropriated amount of $35,128,182.
A perusal of the National Estimates, at least of 2012 and 2013, would reveal the exclusion of any reference to this organisation as a ‘Statutory Body’ – more than tacit recognition that the Sugar Industry
Labour Welfare Fund Committee is in fact defunct, and no longer provides a relevant service.
Nevertheless its continued existence is aided and abetted by the negligence of the politicians concerned.
According to the report, SILWFC housing loans have a $500,000 limit with an additional $200,000 available. Some $38.2M in loans were issued in 2011 with over $925,000 in water subsidies issued to workers in 2010, paid over in that accounting year. [this is GUYSUCO workers who can’t pay their water bills! the working impoverished]
SILWFC said it is indebted to GuySuCo for $269M.