[www.inewsguyana.com] – The Guyana Agricultural and General Workers Union Co-operative Credit Union Society Limited has informed its members across the sugar industry that it requested the Guyana Sugar Corporation Inc (GuySuCo) to cease deductions from workers’ earnings, Credit Union savings with effect from week-ending May 30, 2015.
A press statement from GAWU noted that the Society’s regrettable, but unavoidable decision is occasioned by GuySuCo not remitting workers’ savings to the Credit Union contrary to the extant Agreement between the Credit Union and the Corporation.
According to the statement, at the end of April 2015, the Corporation failed to provide a huge sum of over $154M which represents workers’ savings for five months.
“GuySuCo promised to the Credit Union some payments not later than the third week of this month (May, 2015) but same did not materialize. The Credit Union is now unable to continue to facilitate savers’ withdrawals in the light of the non-payment of the workers’ savings by the Corporation in accordance with the relevant Agreement.”
It was noted that the Credit Union has taken consideration of the fact that it is now unable to secure further loans to satisfy savers’ withdrawals.
“The sad decision, if it is not urgently redressed by the Corporation will cause the jobs of the Credit Union’s employees to be in jeopardy. The Credit Union, therefore, looks forward to receiving as early as possible from the Corporation the workers’ outstanding savings so that its dependable services to thousands of sugar workers would resume as early as possible,” the statement concluded.