The National Insurance Scheme (NIS), which is predicting a deficit of $414 million for 2018, has served a demand notice to the Guyana Sugar Corporation (GuySuCo) for an outstanding debt of $250 million.
General Manager of the NIS, Holly Greaves told the Parliamentary Sectoral Committee on Social Services yesterday that while the sugar company has paid the $1.5 billion it owed in 2015 the interest remains outstanding and the scheme plans to take the Corporation to court to secure these funds.
In 2015 the scheme announced that the NIS had agreed to honour contributors’ claims after GuySuCo submitted a payment schedule. Stabroek News had reported at that time that GuySuCo had not been required to pay the interest that is supposed to be surcharged and the company had pledged that worker benefits would not be in danger owing to the delinquency in payment.
