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K.T Hammond, Minister of Trade and Industry, has refuted claims that the government pays a $50,000 monthly service fee to West Africa Agro-Tech Company (WAATCO) along with a share of the profits from the Komenda Sugar Factory.
Yusif Sulemana, a ranking member of the Trade and Industry Committee, has accused the government of not fully disclosing the terms of the WAATCO deal and bypassing Parliament in the process. Sulemana noted that the factory was initially intended to reduce sugar imports, but now the deal includes a $50,000 monthly fee for WAATCO and a share of the factory’s profits.
At a news conference, Sulemana criticized the government for not bringing the agreement before Parliament, citing WAATCO’s status as a foreign firm as the reason for this omission.
In response, K.T. Hammond, speaking on Joy FM’s Top Story, categorically denied these allegations. He expressed disappointment that Sulemana went to the media instead of seeking clarification directly.
“He discussed this on radio and television without proper knowledge. I’m shocked by his statements. None of what he said is true, and I don’t know where to begin,” Hammond said.
The minister also stated he had no knowledge of any $50,000 payments to WAATCO and questioned the source of Sulemana’s information.
Hammond explained that the government decided to hand over the management of the Komenda Sugar Factory to WAATCO to prevent further deterioration after investing significantly in its revival. Although WAATCO is supposed to be compensated for their services, the government has been unable to make such payments.
He mentioned that WAATCO has introduced an Indian company interested in leasing the factory for sugar production. However, he clarified that how the company produces sugar is up to them.
The Trade and Industry Minister confirmed that no contract has been signed yet to lease the plant to any company. Meanwhile, WAATCO is supplying semi-processed sugar to the Komenda factory to test the machinery’s capability to process sugar.
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