Namdevco tells Public Accounts Committee: We're owed $2.6m

THE National Agricultural Marketing and Development Corporation (Namdevco) is owed an estimated $2.6 million.

Most of the debt relates to small vendors who used its facilities over the years without paying.

Namdevco manager of finance and administration Lincoln Parmasar gave the figure at the Public Accounts Committee (PAC) in the Parliament on May 1, in response to questions raised by chairman Davendranath Tancoo.

It was an inquiry into Namdevco's audited statements for the financial years 2014-2021.

The committee also met to follow up on the implementation of the recommendations made in the 23rd report of the PAC 11th Parliament, which examined the auditor general's reports on financial statements for the financial years 2008-2011.

Namdevco falls under the purview of the Agriculture, Land and Fisheries Ministry.

Parmasar said Namdevco has since moved away from credit arrangements for use of facilities, and is now a cash-based, cash-in-advance arrangement.

Tancoo recalled that the ministry's response to whether legal action was taken to recover the debt was that the cost would outweigh the recovery.

Tancoo asked for clarification on the major debtors, small vendors and the Government.

Parmasar clarified that there was an outstanding balance from the Government on the market box programme in 2021 balance.

"That was sorted out, so it is not the Government per se in the $2.6 million," Parmasar said.

"Many vendors who use the markets owe $100, $200, $300, and so it goes.

"One part of it (debt) is a $1.5 million that is due with respect to an advertising-board arrangement that we had. That was taken to court. I believe we won the judgment, and we are in the process of reinforcement."

Parmasar said a stall cost $100 monthly and steps were taken to recover the debt.

Namdevco has engaged debt collectors Credit Chex Ltd, and Call Serv, but with little success.

In many cases, the debtors cannot be found.

Parmasar said the company has written to the ministry seeking permission to write off the debt.

Permanent secretary in the ministry Farook Hosein and other representatives also attended.

Hosein said Namdevco is the only state-run institution in TT dedicated to providing marketing and marketing support to the agriculture sector.

Namdevco CEO Nirmala Debysingh, chairman Wayne Inniss and other representatives also attended.

Representatives from the Auditor General's Office included acting assistant auditor Reahla Balroop and acting audit directors Simone Wajadali and Florence Dialsingh-Jairam.

Wajadali recalled that in the past, the office enjoyed a productive and positive working relationship with Namdevco. She hopes to maintain this relationship in the future.

Other committee members present were Roger Monroe, Hazel Thompson-Ahye, Ayanna Webster-Roy and Paula Gopee-Scoon.