IMF deal barred investment in unprofitable bauxite industry

Dr Roger Luncheon said yesterday that there were no moves to make any capital investments in the bauxite industry, as was done with the sugar industry, because bauxite was unprofitable and a pact with the IMF precluded any such investment.

Luncheon, Head of the Presidential Secretariat, was responding to questions during re-examination by Attorney Anil Nandlall as the $10 million libel suit filed by President Bharrat Jagdeo against Kaieteur News and columnist Freddie Kissoon continued before Justice Brassington Reynolds.

“I had indicated that the sugar