Facing a cash crunch, the Guyana Sugar Corporation (GuySuCo) will be selling land to the Central Housing and Planning Authority (CH&PA), Minister of State Joseph Harmon announced yesterday, while noting that the corporation has sought a bailout to the tune of $2 billion.
Minister within the Ministry of Finance Jaipaul Sharma will be spearheading the finalisation of the sale, Harmon told a post-Cabinet press briefing.
Harmon said Cabinet recently considered a report the minister submitted on GuySuCo’s financial state. “Cabinet considered the report and authorised the minister to assist the management of GuySuCo with their ongoing discussions with [CH&PA] to urgently finalise the sale of lands and to facilitate payment for such lands to GuySuCo,” he said. “So, in fact, what will happen is that these lands will now come under the Central Planning and Housing Authority and will be available to the Guyanese public,” he added.
