Story: News Desk
The National Food Buffer Stock Company (NAFCo) has started paying part of debt owed members of the National Food Suppliers Association.
However, the food suppliers have expressed disappointment saying the amount paid is insufficient and is not enough to settle the debts they owe to their creditors.
The Minister of Agriculture had promised to settle the debt on July 17, but this promise was not fulfilled.
Another assurance was given for the debt to be settled on Thursday, July 20, but the food suppliers who submitted their documents for payment claimed that the money provided to them was inadequate, as only half of the 2022 debt was paid.
The Minister of Food and Agriculture also reassured the food suppliers that 50% of the outstanding payments owed them would be disbursed by the end of Wednesday, July 19, 2023.
According to the Minister, a sum of ¢100 million, representing 50% of the total debt of ¢203 million, was already transferred to the accounts of the food suppliers on Monday, July 17, 2023. The remaining amount is expected to be credited to their accounts later.