RPA borrowed $100M from GRDB, Yet to repay

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By Jomo Paul

General Secretary of the Guyana Rice Producers’ Association, Dharamkumar Seeraj
General Secretary of the Guyana Rice Producers’ Association, Dharamkumar Seeraj

[www.inewsguyana.com] –Rice Producers Association (RPA) General Secretary Dharamkumar Seeraj signed for a $100M loan from the Guyana Rice Development Board, but has not repaid the monies

According to iNews’ source, through forensic audit currently being conducted at the Rice Board, it was revealed that Seeraj, a People’s Progressive Party (PPP) Member of Parliament (MP) signed for the loan in July of 2014.

The loan which was given with zero collateral was to be repaid in three months – October 2014. However, one year later, Seeraj has not paid the monies.

iNews understands that the sums were borrowed with nothing more than a promissory note as collateral.

But Seeraj had a different version of events when contacted by iNews. He stated that the monies were borrowed to aid in a debilitating situation between farmers and miller in Region Three.

He explained that a Co-op was formed to ship and store rice for farmers however; a lot of the rice in the facility was spoiled due to lack of proper storage which placed the farmers in a predicament.

Seeraj pointed out that “farmers were on the breadline” and the then PPP overnment responded with the loan to repay the farmers via the RPA.

Asked why the money has not been repaid as yet, the MP noted that the matter is currently the subject of a Court case and it is expected that when the matter is finished, the monies would be repaid.

 

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