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600 Growers From Labasa Had Their TC Yasa Loan Paid In Full By Government

Sugar Cane Growers Fund (SCGF) deployed special loan package  from 21st December 2020 to 31st March 2022 after TC Yasa. 

It consisted of $5000 loan of which: (A) tired basis $1000 unsecured loans for immediate needs under the Priority Loan Scheme and (B) rest of $4000 as Specialized Secured Loans.

About 600 cane growers from Labasa and Seaqaqa areas took loans in excess of $0.550m. We at SCGF made a submission in the revised March 2021-2022 Budget to the Government for the full payment of the balance outstanding said SCGF Chief Executive Officer Mr Raj Sharma.  We are pleased that Government and in particular, through recommendation of the line Ministry, Ministry of Sugar, Ministry of Economy approved payment which includes for – 591 growers’ loan outstanding at the time of the budget approval amounting to $536,445.43 that will be fully  paid off. In addition, 9 of growers who paid cash amounting to $8178.13 will be refunded their cash payment.  We expect these accounts to be fully settled within this month.

“I take this opportunity to thank Permanent Secretary for Sugar and the team, Hon Minister for Economy, Permanent Secretary for Economy and Head of Budgets for considering our request, said Mr Sharma.  

The Government earlier on had provided total package of $4m towards TC Yasa rehabilitation package after approved by the Cabinet.

$1,153,910 sourced from within the Ministry of Sugar Industry’s 2020/2021 approved budget. Of the total $1,153,910, $1m was sourced from the Fertilizer Subsidy Program and $153,910 funded from the New Farmers Assistance Program;

$860,126 worth of weedicide subsidy was sourced from the Weedicide Subsidy Program implemented by the South Pacific Fertilisers Ltd (SPFL);

$1,000,000 sourced from the Cane Development and Revolving Fund (CDRF) implemented by Sugar Cane Growers Fund (SCGF) to fund part of fertilizer cost, slashing and drainage works; and

Fiji Sugar Corporation (FSC) provided $1,000,000 worth of assistance for replanting.