1998News

RD$810 millions in losses for CEA

The Listín Diario reported that the State Sugar Council (CEA) has reported losses for RD$810 million for the period 1 October 1997 through 30 September 1998. This is the most losses reported by the sugar consortium that groups state mills and fields throughout the country. The CEA is in the process of being privatized in order to relieve the government of the burden of the heavy subsidies. The confidential report prepared by the Gerencia de Auditoría Técnica dated 15 October and published by the Listín, attributes the increase in the losses to a lack of correct decisions in management, planning, engineering, transport and farm areas.