GuySuCo woes point to need for restructuring – President

The problems plaguing the Guyana Sugar Corporation (GuySuCo) of recent have to do with the need for restructuring due to the growing change in the trading regime internationally.

This is according to President Donald Ramotar who also told a news conference at State House yesterday that the $6 billion the government had given to the corporation was to help in the recapitalization and restructuring that is taking place.

In response to questions on government’s appointment of a new board at GuySuCo, the President said, “The board comes to an end in June or July and we will put in a new board but I don’t agree with the opposition and I don’t think that you should always take what the opposition says hook, line and sinker. I am not on the board anymore. I was the only political person on the board and I wasn’t there because of my political connections, I was there because I was recommended. I am going to put in a competent board…”

Although, the corporation has been inundated with problems over the years, Ramotar expressed confidence …..To continue reading, login or subscribe now.



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