Cane farmers will receive a cheque of just under $58 million dollars from the government today, as part of the compensation package for the closure of Caroni (1975) Limited.
The cheque will be handed over by Minister of Planning and Development, Camille Robinson-Regis to the Cane Farmers' Association.
Cabinet, in a meeting on July 28th, 2016 agreed to pay the cane farmers the sum of $57,965,675.00 for Tranches II and III of the compensation package as a final settlement of the 2007 transitional payment.
Trinidad Guardian: Cane farmers are rejecting Government's promise to pay $57.9 million as final payment of the outstanding two tranches of a grant by European Union as compensation following the closure of Caroni (1975) Limited several years ago.
So said attorney Gerald Ramdeen, who is representing the former cane farmers in the matter.
An announcement of the payment was made yesterday by the Planning and Development Ministry.
Cabinet yesterday approved the payment of more than $57.9 million, which represented the remaining two tranches of the payments.