GuySuCo management upset over leaked reports on quotas, price rackets

May 19, 2018 News

Management of the state-owned Guyana Sugar Corporation (GuySuCo) are upset that internal reports detailing allegations of rackets being run at that cash-strapped entity.
Over the past days, Kaieteur News, using a number of leaked internal documents, reported of what appeared to be manipulations with the prices that are being paid to Guyana for sugar by GuySuCo’s foreign customers like Europe.
The documents also pointed to friends of GuySuCo’s top officials being granted lucrative quota arrangements of sugar to service the local market.
The reports called for actions against senior GuySuCo officials, including sacking.
Yesterday, GuySuCo believed that its partners, and it did not immediately identify them, were responsible for the embarrassing leaks.
GuySuCo said that a number of senior managers from the three-estate GuySuCo requested an urgent meeting with the Chief Executive (ag), Paul Bhim, to express their “growing concerns, disgust and impatience with the less than honourable manner in which the management of the corporation is being projected in certain sections of the media, particularly on some matters.”
A GuySuCo statement said that the managers are of the view that information which was shared in confidence with some partners, over the past six or seven months, have found its way into the media. Some of information is sensitive relating to contractual arrangements between the corporation, its employees and corporate partners.
“The managers also expressed their concerns about the motives of these partners who are volunteering information on the corporation, its employees and corporate partners to the media. These senior managers have indicated that the management and the corporation have been very professional so far in dealing with their partners and have requested that the Chief Executive (ag) submit a formal complaint to the Minister of Agriculture to intervene urgently, in an attempt to discontinue the unprofessional behaviour of its partner, and also to strengthen the integrity of the relationship with same.”
GuySuCo said that it was also the concerted view of the managers, that if the current way of operating does not improve; they will have reservations about engaging with certain partners in the future, given the apparent breach of confidentiality.
“Several other employees of the corporation have also expressed similar concerns to the senior management,” GuySuCo said.
GuySuCo is facing major financial problems with poor management and agricultures, procurement fraud, a bloated workforce and theft has seen some of the worst production figures in decades.
Over the last 18 months, four of the seven estates were closed with almost 5,000 workers sent home.
The Administration has plunged over $32B into the industry as bailouts, with GuySuCo using the majority of the monies to pay salaries and wages and suppliers.
However, there are more indications now that some of suppliers may have been involved in some unsavory transactions with GuySuCo, further skewing the true finances of the company.
The company has billions of dollars in spare parts, most of it obsolete, pointing to racket also in the Procurement Department.

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GuySuCo management upset over leaked reports on quotas, price rackets

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