Caroni (1975) Ltd Board appears before Public Accounts Committee


    Fifteen years after the closure of Caroni (1975) Ltd, its board remains operational and is appearing before a Public Accounts Committee today.

    Being led by Mr Wade Mark, it is examining the audited accounts, balance sheets and other financial statements of the company for the period 2010 to 2018.

    Mr Mark asked about a time-frame for the official winding up of Caroni and this is what its Chairman Jerry Hospedales had to say.

    Mr Hospedales says a decision will be made about Caroni going forward but an existing court matter has to be resolved first.

    Mr Hospedales says in the meantime, they have to maintain the sites where the bungalows are located.

    He is hopeful that once the court matter is completed, the compounds are moved under the remit of Local Government so that the Regional Corporations can provide the necessary communal services.