The dog returns to its vomit

A loan from EXIM Banks of India to ‘fix’ FSC mills left them in a mess they’re still recovering from, so who would believe that the regime would go back to EXIM Bank of India again to borrow for a co-generation power project. Co-generation is a good idea, but why not borrow the money from the Asian Development Bank and have an open tender to get the best equipment possible? Is the regime afraid to let the ADB have a look at the books of FSC?

http://www.fijitimes.com/story.aspx?id=260591

10 Responses to “The dog returns to its vomit”

  1. Aunty Nur Says:

    ADB lending has been suspended since the coup in 2006. And ADB would require a proper feasibility study and due diligence of a project that is based on the assumption that Fiji’s sugar industry will recover from the nose dive it has experienced since 2006. A very shaky foundation for a major investment indeed.

  2. The Sugarman Says:

    I have said it again and again that the sugar industry is doomed no matter what this illegal government of bhai-ni-marama does. Last year after the stupid FSC CEO Abdul Khan lied to public that FSC was well on its way to recovery, I had said that once all the loaned money was finished, FSC will ask for another loan. Since FSC does not make a single cent of profit, and is surviving on borrowed funds, it will only take some time to have its till dry and they request for more money. This is what is exactly happening. I have been reading the comments of the newly appointed FSC Extension Manager, Mr Samu Railoa in the Fiji Times, and despite all his efforts to energize farmers, he will fail. You see, this same Mr Railoa who also writes in the letters to the editor column of the Fiji Times, had spoken highly of FSC progress not long ago. He has changed tune now by admitting to the farmers the very low production of the last seven years and the need for them to go back to pre-coup days. I believe the change in his position has come about because he is now the Department’s boss and the buck stops with him. Hope for the best Samu but I repeat, the sugar industry is doomed.

  3. Frozen Says:

    The reason they want to borrow from EXIM BANK of India is that when repayments are due, Mr Bhaiya will go to India, put on his orange turban, kiss the feet of indian gods and mari-mari the Indian PM to change the loan to a grant. It all boils down to expecting the loan to be granted, but not expecting to repay it back. I wonder if the Exim Bank executives will be so gullible to accept all the bull-shit figures and explanations of the dumb CEO Abdul Khan, and my so gullible friend, Sugar PS Mr Vaniqi.

  4. joe black Says:

    this thief abdul khan and his close friend vaniqi will not give up until they steal as much money as possible from fiji

    vaniqi has been stealing from rural roads funds and other provincial and rural community moneys to pay for kids education overseas- question should be asked how he can afford overseas university education for kids on civil servant pay

    as for abdul he is big snake looking for co gen project funding for many years now but no luck because numbers don’t stack up and he has no money to co-fund- he is just another con artist with no money and trying to fck the fiji people over with bullshit like many other con artists before him

  5. Anonymous Says:

    The recent floods have revealed the true quality of Fiji roads. Someone is getting rich with these deals.

  6. Billy Says:

    The sugar industry was killed sometime back by Mahend and felix. One controlled the sugar farmers union and the other the mill workers.

    Why did mahend give $28k to indians to move out of sugar cane farming? He killed it by giving them $28k with no sweat.

  7. The Sugarman Says:

    @ Billy

    You are ignorant of the facts. Despite your accusations about Mahen and Felix, the fact is sugar cane production was still high at over 4 million tonnes, and over 400,000 tonnes of sugar made. Only when mr bhai-ni marama forcefully made himself illegal pm, did the rot begin in the industry. The sugar industry is doomed!

  8. billy Says:

    Mr sugarman,

    The industry has been on the decline even before FB came into power. The 4,000,000 tonnes of cane has not been achieved in almost 15 years. So pls get your facts right.

  9. The Sugarman Says:

    @ Billy

    Check all the FSC annual reports before 2006 before you open your mouth. Profits were made all those years because of high production. If you do not know, the present 1.5m tons of sugar cane can be crushed by Lautoka Mill alone. Now it takes all 4 sugar mills to crush, and still the season ends in November or early December just like before. What a farce!! And by the way, I am no fan of either Mahen or Felix. I know things could be done better during those years, but still, it cannot be compared to the rot in the industry today. The sugar industry is doomed!!

  10. Fijifast Says:

    @ The Sugarman

    What can you say about the record sugar recovery across the 4 mills in 2013 season and the unprecedented high price farmers will get for their sugarcane delivered in 2013??? Sweet results, you must agree.

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