Gov’t releases money to GuySuCo

Government has approved the release of monies to the Guyana Sugar Corporation (GuySuCo) to ensure that operations at the sugar corporation return to normalcy, GINA said yesterday.
The release did not say how much had been released and from where.
The Ministry of Agriculture said in the GINA release that it therefore wishes to assure the sugar workers and the public at large that all measures are being taken to ensure the sustenance of the industry. The now sacked Chief Executive Officer of GuySuCo, Dr Rajendra Singh had dropped a bombshell two weeks ago by saying the cash-strapped industry faced an imminent shutdown if it wasn’t bailed out by the government.
GINA said that notwithstanding the recent change in GuySuCo’s management, workers can rest assured that the industry is here to stay. In addition, all sugar factories will remain operable.
To ensure that the Corporation continues to function, an Interim Management Committee has also been put in place and is at present working and has already been meeting with management on the way for forward for sugar in Guyana, GINA said. Two key members of this body are former CEOs Errol Hanoman and Paul Bhim. The Committee will oversee the work of the Corporation for at least six months.
A Commission of Inquiry will also be launched shortly by the new administration into the sugar corporation.
“The Government wishes to assure workers that investing in sugar is investing in Guyana and as such all necessary action will be taken to ensure its sustenance”, GINA said.