FSC debt

Narayan Reddy,Lautoka | Saturday, May 27, 2017
If the Fiji Sugar Corporation is guaranteed another $202 million then I believe its total debt would be $595m.

Can someone explain how much FSC is worth?

Year in and year out FSC has only made losses.

I am sure no commercial bank will give FSC any loan without Government's guarantee.

Anyway, why is Government guaranteeing FSC loans when it very well knows that FSC is not in a financial position to pay back.

Why can't Government sell FSC, after all one sugar mill is already closed.

I feel for the farmers but I also believe that desperate times call for desperate measures.

Once I was told a story about chicken and duck farming.

The ducks survived the flooding but the chickens all drowned.

I am sure people will understand what I am saying!

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