Arthur Hall, Senior Staff Reporter

Prime Minister Bruce Golding is urging Jamaicans and particularly sugar workers, to be patient as the Government continues its attempts to divest the sugar industry to the Brazilian firm Infiniti Bio Energy Limited.

But even as he expressed confidence that the deal will shortly be finalised, Golding was unwilling to give any new deadline for the divestment.

"We are working towards a date but it is a work in progress and I would not want to say," Golding responded to The Gleaner yesterday.

"I know that there are reasons, there is cause for some concern that it has not yet been concluded. I appeal to the country to appreciate the technicalities that have had to be addressed.

"We are seeking to (do) this at a very challenging time. We are seeking to do something that, in the best of times, would have been a formidable assignment to take on," Golding said yesterday as he addressed a function at Jamaica House.

At the ceremony, the Prime Minister accepted $365 million from the European Union (EU) for budgetary support for Jamaica's sugar programme.

Deadline passed

The divestment of the sugar industry, which involves the sale of five state-owned factories and the lease of sugar lands, was initially slated to be completed by September 30.

However, days before the deadline the Government announced that several loose ends were still to be tied up before the deal could be finalised.

Yesterday Golding said the major issues had been addressed but several details are to be worked out.

"The delays have had to do with several important aspects of the agreement one of which is a power purchase agreement which has to be agreed in principle...between the company and the Jamaica Public Service Company," Golding said.

The Prime Minister stayed away from any comment on allegations that Bio Infiniti was facing serious financial problems and did not have the money to finance the deal.

But Golding said issues surrounding the sale of the 40-million gallon Petrojam Ethanol plant have been settled.

According to the prime minister, as soon as the divestment agreement is concluded the workers will be paid their redundancy money which is estimated at close to $3 billion.