BASSETERRE, St. Kitts, Apr. 26, 2018 – THE Government is currently awaiting a report on the findings of the second investigation into the Sugar Industry Diversification Foundation (SIDF).
According to Prime Minister, Dr. Timothy Harris, within the next two weeks they are expecting to have a report from “a particular group” that is conducting the investigation.
Since taking office in 2015, the government sought to investigate how the former administration spent monies from the fund that was established in 2006.
They had accused the Labour Administration of abusing the fund and operating it as an alternative to the government’s Consolidated Fund.
The Tea m Unity Administration contracted the services of world-renowned audit firm, Ernst and Young, to investigate the foundation.
Following the completion of that investigation, the government raised concerns over irregularities found in the examination. That prompted them to push to have a second look.
Dr. Harris last year pointed to alleged irregularities prior to the 2015 General Elections, where $500 million dollars was spent, an expenditure he said that is almost double the normal annual expenditure of the SIDF since its inception.
While speaking at his monthly press conference today, Dr. Harris said that until they receive that report, he would not be able to say more on the issue.
“We have submitted the reports that we have had for further evaluation and scrutiny by competent persons within the next 14 days - the Attorney General has promised that we will get their recommendations.”
The government believed that the Labour administration had squandered millions of dollars from the SIDF and they have implemented a system process to recouping the monies.
