The Permanent Secretary for the Ministry of Sugar, Yogesh Karan says an independent investigation will be carried out in relation to over $200 million of losses incurred by the Fiji Sugar Corporation because of the STM project in 2004.
Karan says accounting firm, KPMG has already done a report on this and the Ministry now wants an independent investigation done which will be conducted by Police or FICAC.
In the last Parliament sitting, Minister for Economy, Aiyaz Sayed-Khaiyum had stated that the STM project at FSC is the equivalent to the NBF scandal.
Sayed-Khaiyum says recent accounts done by the experts are saying that approximately $300 million was lost by FSC because of the STM project.
He says it was an enormously corrupt deal that took place where good Australian parts were removed from the sugar mills and Indian parts were installed.
He says some parts were not even installed in full and parts were still lying around incomplete.
We have sent questions to Police and FICAC.
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