Saturday, April 20, 2024

Pay day deadline


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SOME BUSINESSES OWED millions of dollars by Government, and are prepared to accept 85 per cent of the debt in cash, are in line for payment this month.

But in order to access the offer and receive the funds before the financial year ends on March 31, these suppliers of products and services have to notify the Ministry of Finance by filling out and submitting the requisite form by tomorrow.

Otherwise, payment will be made by the end of September and once businesses accept the offer in writing, they are agreeing to make no further claim on that debt.

The bad news for those creditors who want all of the money Government owes them is that they might have to wait another four years to get it.

The “85 cents in the dollar” debt repayment offer was announced by Prime Minister Mia Mottley in a Ministerial Statement in the House of Assembly in December.

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