Sugar welfare fund under threat by GuySuCo’s dismal performance

Jul 21, 2013 News

A longstanding sugar industry body tasked with improving housing and social conditions for workers has warned that its operations could be threatened unless the Guyana Sugar Corporation (GuySuCo) makes a turnaround.
The Sugar Industry Labour Welfare Fund Committee (SILWFC), in its 2011 Annual Report tabled in the National Assembly on Thursday, said that for the fund “to continue with its mandate to effectively serve sugar workers it is essential for the sugar industry to sustain progress, since its plans/programmes are funded mainly by levies.”
SILWFC would have good cause for being worried as GuySuCo is facing serious cash problems after its production plunged to its worst in 20 years in 2012.
The fund’s main source of income is levies from sugar exported by the Corporation, but between May 2010 and December 2011, no monies were paid over.
SILWFC was established in 1947 to help focus on improving housing, sanitation, potable water supply and recreational facilities for sugar workers.
The organization has also been significantly involved in house lot allocation, issuing interest-free loans and water subsidies for qualifying workers.
As of December 31, 2011, the fund recorded a net surplus of $53.8M.
The eight-person committee back in 2011 included Dr. Dindyal Permaul while the members were Yoganand Persaud, a labour official; Carvil Duncan; Kenneth Joseph; and Rooplall Persaud – all trade unionists; Paul Bhim, Rishi Sookram and Ramnarayan Rupan, all GuySuCo representatives. The Chairperson was Deolatchmee Ramotar, Guyana’s First Lady.
According to the 2011 annual report, during that year, the fund received $27.6M, representing loan remittances.
Some 65 sugar workers’ applications for land titles under SILWFC’s Extra Nuclear Housing Areas were processed.
According to the report, SILWFC housing loans have a $500,000 limit with an additional $200,000 available. Some $38.2M in loans were issued in 2011 with over $925,000 in water subsidies issued to workers in 2010, paid over in that accounting year.
SILWFC said it is indebted to GuySuCo for $269M.

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Sugar welfare fund under threat by GuySuCo’s dismal performance

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