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GuySuCo Board drives company further into the ground
– NAACIE joins calls for independent inquiry
The calls are mounting for an independent inquiry into the operations of the beleaguered Guyana Sugar Corporation (GuySuCo).
NAACIE’s General Secretary, Kenneth Josesph
Yesterday, the corporation’s second union, the National Association of Agricultural, Commercial and Industrial Employees (NAACIE), said that it can no longer tolerate the situation which has seen one bad decision after another by the board and management.
“It is against that litany of poor Board level and management decisions and all their consequential woes for the sector that NAACIE throws its unstinted and categorical support for the call for an urgent Commission of Inquiry into Guyana’s besieged sugar industry, as mounted by the major union in the sector, the Guyana Agricultural and General Workers’ Union (GAWU).”
The union, which represents mainly office workers at the corporation, said 2014 was the year with the second lowest production in the last 24 years.
“Senseless pre-harvesting of pre-ripened cane causing poor quality production, also compromised quality and production potential of the 2015 first crop.”
The union also criticised management saying that it made a “fundamentally flawed”, “unprofessional economic” decision to reject a three year contract from its European customer, Tate and Lyle, in late 2012. GuySuCo settled for a mere one year agreement “resulting in significant financial loss to the sugar corporation for 2013 to 2015 inclusive.”
NAACIE is of the view that the industry is indeed besieged and under siege by the “atrocious decisions” by both the
Agri Minister, Dr. Leslie Ramsammy, and GuySuCo’s CEO, Dr. Raj Singh
Board of Directors and its management.
NAACIE was also highly critical over the manner in which GuySuCo goes about planting canes. “There is woefully inadequate expert management monitoring of the husbandry in the fields. The results are poor plant nurturing, poor roads, poor punts maintenance all resulting in poor quality product.”
The Board of Directors, led by former Education Minister, Shaik Baksh, was also not left out.
“The Guysuco Board never by itself seems to enquire into its own stewardship. This is apparent from the repetitive policy and management blunders yearly. The sectors, employees, suppliers and our general population then feel the economic squeeze. How long must we merely mouth that sugar is too big to fail”
NACCIE said that the annual cash injection from the national budget have failed to stop the haemorrhaging at GuySuCo.
“The taxpayers are being exploited. A national expert, impartial inquiry must be mounted now. Not so much to cast blame now…but to rescue this vital industry which offers succor to thousands and to the nation’s life source…”
Last year, the 16,000 worker industry, once the biggest in the country, barely scraped past its target of 216,000 tonnes. However, a drop in price on the world market by more than 50 percent in the last three years saw the industry’s cash takings taking a beating.
As at June last year, the industry owed $58B to local and overseas banks and to suppliers. The latter has been demanding cash up front.
GuySuCo’s Chairman, Shaik Baksh
The industry has also been producing sugar at US$0.30-plus per pound, almost double for what it is selling for.
A “shakeup” of the board saw its former Chairman, Dr. Raj Singh, being appointed the Chief Executive Officer, while Baksh was named the Chairman.
The Opposition has called for GuySuCo to present a plan detailing how the industry’s fortunes will be reversed. However, GuySuCo has failed to do so.
GuySuCo has been a touchy subject for both Government and the Opposition as a significant number of votes come from the industry.
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