The ailing Mumias Sugar Company woes are far from over after Treasury failed to release Sh1 billion bailout two weeks since President presented a cheque to the company, reports Business Daily.
The company chairman, Dan Ameyo, said that the company needed the money urgently to resuscitate the factory as well as pay farmers. He was quoted as saying:
“We want the money as urgently as possible to address a number of challenges that we are currently facing….”
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Mr Ameyo said he was not aware why Treasury was taking eons to disburse the cash:
“Honestly, I cannot tell why it has taken long for the funds to be released, I do not have any information regarding that…”
According to acting Agriculture Adan Mohamed, the disbursement should have been made shortly after the cheque had been presented by the President.
“The funds were to be sent shortly after the President presented the cheque to the miller,” said Mr Mohamed, who is also the Industrialisation secretary.
Mr Adan said that he will follow the matter with his industrialization counterpart Henry Rotich to find out why the funds have not been released.