Parliament grills SCGC over accounts, reporting

The Standing Committee on Economic Affairs questioned the Sugar Cane Growers Council (SCGC) today over financial accounts that could not be clearly explained during a parliamentary hearing.

The concerns included annual reports that are up to four years overdue and a trust fund worth millions of dollars in which the council holds a 70 per cent stake but has yet to pursue legal action.

Opposition MP and committee deputy chairperson Premila Kumar told chief executive officer Vimal Dutt and his team that the council's financial reporting was unacceptable for an organisation receiving public funds.

“At the moment it is all wishy-washy, which means we cannot go deeper into our questioning.

“For example, even though you are an accountant, you are not able to tell us what these benefits are,” Ms Kumar said.

The exchange followed questions in which neither Mr Dutt nor the council’s accountant could clearly explain a $57,401 management fee or a $122,370 entry listed as key management compensation in the 2022 annual report.

Ms Kumar called on the council to overhaul its chart of accounts to improve transparency and accountability.

She also pressed Mr Dutt on the SK Trust, a commercial building in Lautoka in which the council holds a 70 per cent stake but has received no dividends.

Mr Dutt said the council was now intending to seek legal advice and commission an independent audit.

“You were not waiting for the committee to tell you that. As the head of the organisation, this should have been done way back,” Ms Kumar said.

The council, which receives $800,000 annually from Government against a budget request of $2 million, is also behind in its reporting obligations. The 2023 annual report is still being printed, while the 2024 audit has yet to be completed.

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