$4B injection into GuySuCo can rejuvenate industry

May 02, 2012 News

– GAWU President

For the past six years, the resources at the disposal of the Guyana Sugar Corporation (GuySuCo) are not matching with the yearly production; however Government’s $4B bailout can rejuvenate industry.
This opinion was expressed by President of the Guyana Agricultural and General Workers’ Union (GAWU), Komal Chand at the National Park yesterday as the entity participated in May Day observances.

GAWU President Komal Chand

He said that the Finance Minister Dr. Ashni Singh in his budget speech had noted that $4B was taken from the Central Government to ensure that the sugar industry is financially viable and operates on investment requirements for a financial turnaround, that is expected to be able “with support from Government, to benefit the industry’s 18,000 workers and families, and along with the industry’s suppliers of goods and services, bring the total beneficiaries to 120,000 Guyanese”.
Chand added that with the “fixes” at the Skeldon Sugar Factory, GuySuCo assures that 2012 can really be the turnaround for the sugar factory.
“Indeed it can be so if a quantity of sugar not less than 300,000 tons can be produced by the end of 2013, in keeping with the industry’s present resources and the current price of sugar in the overseas market, then the industry’s deficit is on the horizon.Those who manage the industry have to come up with critical assessments and observations to make the industry viable and a success.”
“GAWU is ready to play its responsible role in defence of the workers every day, and their larger interest. GAWU welcomes the government’s support for the industry as its seeks to overcome its challenges.”
Chand asserted that “the AFC (Alliance For Change) is using sugar workers to promote its political ends however, members must be aware of wolves dressed in sheep clothing”.
However, the AFC is convinced that no amount of injection of Government funds will help the current crisis the sugar industry is facing. The party 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 factories in the sugar sector.