Former President Bharrat Jagdeo yesterday confirmed that the Guyana Sugar Corporation (GuySuCo) was the final destination for $3 billion which government has been attempting to transfer from the Guyana Geology and Mines Commission (GGMC) to the Central Housing and Planning Authority (CHPA).
According to the former president, the funds are state funds and do not belong to the mining sector and the transfer was solving two problems at the same time. He said that the money in the GGMC treasury currently is earning less than 2% interest as opposed to the 5% per annum stipulated under the originally
