Pamol Plantations: Lauds Gov’t’s Financial Bail-out

The management of Pamol Plantations Plc has lauded the government for coming to the rescue of the agro-industrial giant based in Lobe, Ekondo-Titi sub-division in the South West Region. In a communiqué to appreciate the appointment of a son of Ndian Division (base of the company) as Prime Minister, Head of Government, the General Manager and staff have saluted the relentless efforts of the government in ensuring the  viability of Pamol Plantations. The communiqué reveals that the government doled out the sum of over FCFA 1.2 billion to bailout the company with the problem of unpaid salaries. “Other disbursements are in the pipeline,” the communique stated. The agro-industrial company grows oil palms and rubber in Ndian, Lobe and Bai with a total land surface area of 10,300 hectares. The company has a capital of FCFA 1,874 billion pumped in by the government (leading shareholder), para-public and private companies.  The management is affirming its commitment to ensure the viability with its eight products (palm oil, palm kernel, palm kernel oil, soap, sludge oil, seeds, seedlings and palm kernel cake). It should be noted that the agro-industrial giant based in the South West Region, is severely hit by the ongoing socio-political crisis in the Anglophone regions of the country. Its installations, workers and plantations come under regular attacks by armed separatist groups thereby making operations difficult.

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