GOVERNMENT goes to Parliament today seeking approval of a more than $40 million lifeline for the state-owned Caribbean Broadcasting Corporation (CBC).
Minister of Finance Chris Sinckler will move the resolution to pay the principal and interest of the outstanding loans of the CBC.
The heavily indebted corporation proposes to obtain the loans from the Bank of Nova Scotia for the purpose of financing the purchase of digital Multi-Choice TV (MCTV) equipment; consolidating debt obligations to the National Insurance Board (NIB) and the Value Added Tax (VAT) Department; and assisting with the financing of its 2011-14 capital expenditure programme.
Some of the financing is already in place. (TY)
Full story in today’s DAILY NATION.
