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$4B bailout will not solve GuySuCo’s problems – AFC
“It will be good money in the hands of a bad management”
The Alliance For Change (AFC) is convinced that no amount of bail-out will
Crushed sugar spills on the ground due to defective machinery.
ameliorate the extremely deep crisis that the sugar industry is in.
Government plans to inject a whopping $4B to prop up the industry which has been in crisis mode for close to a decade.
This plan was announced by Finance Minister Dr. Ashni Singh during his recent budget presentation.
The AFC is of the view that the problem with the sugar industry has to do with bad management and the planned bailout will just be money wasted.
“It will be good money in the hands of a bad management which will result in waste of the good money. This has been the dreadful case of GuySuCo over the last decade or so.”
According to the AFC there is indisputable evidence of the wanton disregard of proper factory practices, and rampant maladministration at each of the sugar factories in the sugar sector.
Additionally, the party said it has the evidence of bad husbandry practices on the fields which have resulted in the decline in production and productivity per acre and per worker.
“Sugar workers are gradually becoming aware that their lot has seen no improvement over these years, notwithstanding massive financial inputs into the sector year after year.”
The AFC which holds a balancing vote in the National Assembly said that it is for this reason that sugar workers themselves are demanding a total overhaul of the Board and Management at GuySuCo.
It warned that the “politicos in the Board will continue to ‘misspend’ and ‘misadvise’ and interfere with the modicum of professionalism that is left within management. This was what happened whilst the directorship consisted of Donald Ramotar and Nanda Gopaul, both of whom have now been promoted to President and Minister respectively.”
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