Latest update December 25th, 2024 1:10 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

Process for external review of GuySuCo begins

Aug 24, 2008 News

As the threat on the sugar industry continues, with workers being on strike, the Ministry of Agriculture yesterday revealed its tender process for an external review of the Guyana Sugar Corporation.
The ministry is advertising for an interested firm to conduct an examination of the financial projections against actual performances, and assess the impact of production shortfalls against financial performance.
An examination will also have to be conducted on the reasons for the financial shortfall at the company.
A recommendation of appropriate corrective actions needed to strengthen financial efficacy is also expected from the firm.
The structure and terms of reference of the management contract will also be examined, while an assessment of the company’s suitability regarding incentivising financial performance and management efficacy of the industry is also to be done.
The consultant will be required to do reviews and comment on profitability, cash flow, cost management, economic factors and business planning over the past twelve years.
Minister of Agriculture, Robert Persaud, last week announced that there is concern about the downward revision in the production at GuySuCo.
As such, he said, there will be a production review of GuySuCo.
The minister added that this will be done to ensure that when targets are set, the constraints can be successfully addressed.
He said that the sugar company has been relating that weather conditions and industrial relations’ matters have been affecting its ability to meet targets.
Meanwhile, the minister said that he hopes that there is an early resolution of the negotiations between GAWU and the sugar company in relation to the strike action.
Chief Labour Officer Mohamed Akeel met with representatives of the two bodies as conciliation continues in the wages’ dispute between the two entities.
Kaieteur News was told that there has been no progress in the negotiations.
GuySuCo is contractually obligated to supply its main European customers with 55,000 tonnes of sugar by September 5.
Presently, the corporation has shipped 16,400 of the 55,000 tonnes.
This year, GuySuCo stands to lose close to $1.2B in revenue, due to the price cut.
Late last week, Rose Hall and Albion estates joined in the industrial action.
Kaieteur News was told that GAWU and the workers are flagrant in their industrial relations procedures.
However, GAWU said that it did not advise workers from the other estates to join the strike.  This newspaper was told that the Ministry of Labour will be looking at whether penalties can be imposed.
The union and workers have totally disregarded the Collective Labour Agreement (CLA) signed by both parties each year.
Officials within the labour circles see this most recent development as ‘dangerous,’ if the strike actions are allowed to continue.

Similar Articles

The Glenn Lall Show | December, 2nd, 2024

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

The wait is over, all roads lead to KMTC for their Grand Boxing Day Horse race meet

The wait is over, all roads lead to KMTC for their Grand Boxing Day...

Dec 25, 2024

Over 70 entries in as $7M in prizes at stake  By Samuel Whyte Kaieteur Sports- The time has come and the wait is over and its gallop time as the biggest event for the year-end season is set for the...
Read More
Xhiya Hercules – flipping the script towards Gymnastics history for Guyana

Xhiya Hercules – flipping the script towards...

Dec 25, 2024

Road Warriors, Bent Street, Team Cruel & Gold Is Money into quarter-finals

Road Warriors, Bent Street, Team Cruel &...

Dec 25, 2024

Deol maiden hundred outshines Matthews’ as India take series

Deol maiden hundred outshines Matthews’ as...

Dec 25, 2024

Moraikobai village two days football competition and fun day set for Old and New Year’s Day

Moraikobai village two days football competition...

Dec 25, 2024

BCB thanks cricket fraternity for strong support in 2024

BCB thanks cricket fraternity for strong support...

Dec 25, 2024

Features/Columnists

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]