Maseru, Dec. 03 — Lugy’s Manufacturing Director, Mrs. Ma’roon Adamas has requested the Public Accounts Committee (PAC) to give her three more months to repay the M2 Million loan from Lesotho National Development Corporation (LNDC).
This, she said during her appearance before the PAC on Wednesday where it transpired that LNDC gave her the above-mentioned amount of money as a loan in 2023 for manufacturing of garments at a factory which hired 600 people.
She indicated that she could not repay the M2 Million on time due to interruptions of the business by LNDC, citing rehabilitation issues of the factory building as some of them.
” The site complications forced us to close the business and LNDC has also taken us to court regarding the loan repayment” she said, indicating that she will sell the factory equipment so that she could repay the loan.
She also disclosed that they managed to place only one order with some of the money for the cloth purchase and manufacturing, saying the latter was done and sent.
However, PAC Chairperson Mrs. Machabana Lemphane Letsie indicated that what she said regarding the closure of the company and reasons why she couldn’t repay the loan were just stories since there was no evidence in a form of documentation although she presented letters which did not attach invoices.
She therefore ordered her to bring evidence, emphasising that she will have to repay the loan as soon as possible.
Meanwhile the proceedings are continuing.
Ends/LP/BM
