Government pays $57.9 million to former Caroni cane farmers today

Friday, September 23, 2016 - 05:00

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.  

Tranche I, which amounted to $24,151,385, has already been issued to the cane farmers.

A total of 2,740 of the eligible 3,481 farmers benefitted.

The payout takes place at the Eric Williams Financial Complex at 11 am.