Gov’t examining several options regarding future of GuySuCo; sub-committee appointed

The Government of Guyana is examining several options regarding the future of the cash-strapped Guyana Sugar Corporation (GuySuCo) following a meeting with a team from the entity at the last cabinet meeting.

This announcement was made today by State Minister, Joseph Harmon, who informed that a Sub-Committee has been appointed for this purpose.

He said the GuySuCo team was led by the Chairman of the Board, who made a presentation to the cabinet highlighting the state of the Corporation, challenges it continues to face and options to address these.

The State Minister said the GuySuCo team pointed out that to maintain the status quo would be the worst possible option at this time since in that regard there were serious implications for the National Treasury.

Cabinet has also appointed a sub-committee to examine the presentation made by GuySuCo taking into consideration the points raised in the discussions and develop an approach which represents that of the Government. He said too that the Opposition would be consulted.

The Sub-Committee is expected to present its report within the next two weeks to the cabinet.

It is clear; Harmon noted that a decision regarding the way forward for the Corporation would have to be made before the end of December 2016.

However, he is maintaining that the public’s input is crucial before any concrete decision can be made, hence a mandate has been given for consultations to be held with all stakeholders and the employees of the Corporation and their families.