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Companies

Chemelil seeks KRA repayment plan for Sh1bn debt

The Chemelil Sugar Company factory. FILE Photo | Tonny Omondi | NMG
The Chemelil Sugar Company factory. FILE Photo | Tonny Omondi | NMG 

Chemelil Sugar Company has now called on the government to negotiate with the taxman to settle its Sh1 billion debt on a manageable repayment plan.

The miller’s chairman, Benson Owiti, said the debt burden has made it difficult for the firm to cater for overhead costs incurred in day-to-day running of the business.

“On behalf of the company, we request the government to undertake negotiation with KRA (Kenya Revenue Authority) to facilitate restructuring of the debt based on a manageable repayment plan,” he said Tuesday.

Mr Owiti indicated that the company has an outstanding debt estimated at Sh1 billion, excluding penalties.

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