SCGF criticised for implementation of policies
THE Sugar Cane Growers Fund was criticised at a meeting in Tavua recently for allegedly implementing policies without consulting canegrowers.
Prominent farmer Rajendra Raglu said it was important for the SCGF “to realise their only clients were the sugar farmers in Fiji”.
“Without taking our views, they have changed all the interest chargeable formula,” he said.
“The application fee has been doubled, a 6 per cent service charge has been loaded and 6 per cent monthly compounded interest has come in.
“If a farmer has a $1000 loan, before only 6 per cent annual interest applied but under the new policy, every month a 6 per cent interest is applied to the loan.”
Mr Raglu said the money managed by the SCGF belonged to the growers.
SCGF chief executive officer Raj Sharma said there was no outright doubling of service fee and a waiver for the application fee for medical, funeral and natural disaster needs.
“The fees and charges were revised after very careful consideration since there was no fee review ever since SCGF started its main branching operation in 1997,” he said.
Mr Sharma said interest applied before was accrued on a daily basis and charged at the end of the year.
He added they had advertised the new rates and fees in the newspaper as required under the Consumer Credit Act 1995.
“We gave 30 days’ notice, also made press releases, wrote to the growers, those that have accounts.”