Minister of State Colin Partap told Senate Tuesday the People's National Movement (PNM) owes State-owned Caribbean New Media Croup (CNMG) $600,000 for coverage of political rallies during the May 24, 2010 general election.
Partap was responding to a question from Senator Terrence Deyalsingh. He advised the legislators that the company has hired a debt collection company to try to get all outstanding money.
"When the People's Partnership Government was elected into office it found CNMG to be a loss-making State enterprise...and has so far been funded by taxpayers to the tune of $235 million," Partap said. He also said advertisers are owing the company $6 million.
"$1.1 million is owed by government ministries, State companies and State agencies and statutory bodies. The PNM owes CNMG $600,000 for advertising and coverage of political rallies for the 2010 general election," he said.
Partap said CNMG's acting CEO has advised that he has a business plan that will see the company becoming financially self sufficient within three years. He said the plan will save close to $4 million annually from the cost-cutting exercises.
Partap was responding to a question from Senator Terrence Deyalsingh. He advised the legislators that the company has hired a debt collection company to try to get all outstanding money.
"When the People's Partnership Government was elected into office it found CNMG to be a loss-making State enterprise...and has so far been funded by taxpayers to the tune of $235 million," Partap said. He also said advertisers are owing the company $6 million.
"$1.1 million is owed by government ministries, State companies and State agencies and statutory bodies. The PNM owes CNMG $600,000 for advertising and coverage of political rallies for the 2010 general election," he said.
Partap said CNMG's acting CEO has advised that he has a business plan that will see the company becoming financially self sufficient within three years. He said the plan will save close to $4 million annually from the cost-cutting exercises.
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