GuySuCo to exhaust remaining funds by weekend; employees’ salaries could be in jeopardy – GAWU

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File photo: Another set of retrenched sugar workers

The Guyana Agricultural Workers Union (GAWU), Thursday, said that it has learnt through several sources within the Guyana Sugar Corporation Inc (GuySuCo), that the state-owned company will exhaust its remaining funds by this week-end.

“Our sources have informed us that the monthly-paid employees of the Company, who were to be paid on June 26, 2020, will not receive their salaries as there are insufficient resources to offset the payment,” GAWU said in a media release today.

“When we asked about the promised release of resources from the Government-holding company – NICIL – our sources confirmed that, so far, none of the touted monies have been released to the sugar company. Persons in the GuySuCo, we have learnt, are very anxious, at this time, considering production has halted and income from the sales of sugar and molasses have ceased. One source indicated that if NICIL does not release any monies soon, the Company will be forced to close its doors”.

The Union said that it was informed that with several more weeks before the second crop commences, the industry requires about $1B to meet wages and salaries expenditures while additional monies are required to meet other operational expenses.

“There are some worries that in the absence of sufficient funds, the Corporation may not be able to purchase sufficient fuel to operate it pumping stations. If this becomes a reality, we could see several villages being flooded should the rainy season persist. We have learnt that the Corporation is seeking the assistance of the National Drainage and Irrigation Authority (NDIA) to avert such disaster,” the release added.

GAWU said, like the GuySuCo, it is hopeful that this matter could be addressed soonest and the worse could be averted.

“We remained most concerned about the heartless treatment of the sugar industry by the now de-facto Administration. Thousands of lives hang in the balance and the need for urgent intervention is needed. Of course, such assistance is denied arising from the naked attempts to thwart the will of the people and preventing the installation of a legitimate Government,” the company added.