BASSETERRE, St. Kitts – ATTORNEY GENERAL the Hon. Vincent Byron Jr. has revealed that investigations into the Sugar Industry Diversification Fund (SIDF) has been very extensive and the Government has sent for clarification on several findings.
At a recently held function, where AG Byron was addressing members of the local media, he was asked if the investigations surrounding the SIDF were completed.
In response, the AG said, “There is still some final things that we have asked them to look at again. But in by large measures it has.”
This media house understands that the investigations have been completed but the findings have not yet been made public, and Byron noted that the Prime Minister would do so shortly.
Earlier this year, the Government had enlisted the services of international accounting firm Ernst and Young to carrying out a forensic audit of the SIDF’s financial books, which was touted in some quarters as being used as “a slush fund”.
But the AG, in a toned down speech to media operatives, explained that a promise was made before the Team Unity Government took office to have the fund reviewed and act on recommendations.
“We had promised even before we had gotten into government that we would want to review (in terms) of the structure, the SIDF. We thought that it should have been accountable to the people by the monies coming from that should either be in the Consolidated Fund or by a statutory body. And so we are moving very quickly to that position.”
He continued: “I would not pronounce on it, but I would wait on the Prime Minister once we have finalized everything to be able to make that announcement as to what we would do. I know at Cabinet level we have looked at a wide range of socio-economic avenues for contributions to be made. Whether it be public infrastructure, education, health, cultural heritage; are some of the areas where discerning applicants worldwide can make contributions to our national development.”
Byron stated that the investigations were a tedious task for those involved, because all of the documents were not readily available, thus giving the auditors “a lot more work than what was anticipated”.
He pointed out that they had gone a step further than just looking for infractions coming out of the investigations by finding the necessary recommendations that could best suit the way forward for the Fund.
“They have been doing quite a lot of work looking into the monies that had been advanced to Kittitian Hill, for instance. And we have gone further to look not just at infractions, but what has been recommended as the way forward to make sure that Kittitian Hill, which is a unique tourism product and one that could add great value to our tourism plan, does become a success.”
Against that backdrop, the AG told media operatives that from all reports the Government received to date, it does seem to be at least a viable option from where the Administration had inherited it.
Speaking to the Christophe Harbour aspect of the investigations, Byron noted that it is perhaps the largest developmental project the country had been involved in, where some 2,500 acres had been involved as a prescribed area in the Southeast Peninsula.
“There were a number of things that had to be looked at in relation to the arrangements of the SIDF’s involvement in the creation of a firm in which SIDF has 30% interest...We have had a report it is being studied by the Cabinet. We have asked for additional looks at one or two things by the auditors and we are yet to do so.”
