The dog returns to its vomit

The regime’s FSC boss, Abdul Khan, has been telling us the mills are now working better. So what does he do? He orders another loan from the EXIM Bank of India! They haven’t paid off the last loan which wrecked the mills, so what makes them think this is going to work? Bainimarama hasn’t got a clue what’s happening. He leaves it all to Abdul Khan who will be busily filling his carpet bag with kick-back money before he has to exit rapidly when the industry collapses after the 2014 election.

Radio Fiji 9 September 2013 FSC takes loan from EXIM Bank of India
http://www.fbc.com.fj/fiji/13526/fsc-takes-loan-from-exim-bank-of-india

One Response to “The dog returns to its vomit”

  1. Bruce C Says:

    Khan’s next big deal will be a huge ethanol factory based on molasses that FSC may or may not produce in the future. A World Bank study has dismissed this proposal in 2009 and clearly stated that only if and when the government waves all fuel taxes such a project could work. But this is not the point. An investment of 80 million $ will – according to Khaiyum’s 10% rule generate kick-backs in the order of 8 million, clearly motivation enough to dismiss professional assessments and go ahead with such idiotic projects.

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