A report by the Sunday Guardian indicated that the NLCB is expected to put forward $4 million dollars in support of events and activities.
There is, however, a $50,000 cap per request, including selected schools for their respective carnival fetes.
The Ministry of Finance is said to be in the process of selecting a NLCB Board. The state-owned enterprise is being steered by its director, Michael Jogee.
Just last week, the Chutney Soca Monarch competition initially received a $300,000 subvention. However, Minister of Finance Colm Imbert, who carried out his own personal investigation, increased that figure to $1 million.
But according to the event’s promoter, George Singh (Southex), that figure is still not enough to keep the competition on track.
There are also reports that this year’s International Soca Monarch may be under threat although negotiations are still on going.
For the first time in 49 years, the NLCB in 2017 made a profit of $315 million and recorded $3 billion in sales.