The question of a bailout for the cash-strapped GuySuCo is to be taken to Cabinet on Tuesday, according to Minister of Agriculture Noel Holder and a forensic audit of the beleaguered corporation will be commissioned.
Holder told Stabroek News last evening that GuySuCo’s Chief Executive Officer Dr Rajendra Singh had provided a breakdown of the sum required to stave off an industry shutdown. This submission, according to Holder, was found to be “satisfactory enough” to be submitted to the new Cabinet for review and action.
Stabroek News had been told that the industry might need as much as $16b to stay afloat but Holder had said on Thursday that he was expecting this figure to decline when Singh presented more detailed information yesterday.
On Monday, Singh revealed to the sugar unions that GuySuCo’s financial woes were so
