[www.inewsguyana.com] – The Government of Guyana has announced that it has dismissed the Chief Executive Officer of the Guyana Sugar Corporation (GuySuCo) Dr. Raj Singh on Wednesday, June 03.
A statement from the government noted that “GuySuCo has been suffering increased losses over the years. In 2014, the sugar corporation received a $6 Billion bailout. For this year, the corporation has requested a $16 Billion bailout package.”
It was noted that on the directive of Cabinet, Agriculture Minister Noel Holder issued the letter of dismissal to Dr. Singh and it takes immediate effect.
In addition, the statement noted that members of GuySuCo’s Board of Directors have been instructed to send in Letters of Resignation with immediate effect.
According to the statement, “Over the years GuySuCo has been sinking further into debt due to ineffective operations both at the financial and production levels.”
Government noted that in order to ensure that the Corporation continues to survive, the Government will be putting in place an Interim Management Committee that will take effect from June 4, 2015 and which will oversee the Corporation for at least six months.
It was noted that before the end of this month, the Government will establish a Commission of Inquiry to look in to the operations of GuySuCo and chart a way forward.
“The Government wishes to assure workers of GuySuCo that they will be paid and there will be no closing of the Sugar Corporation,” the statement concluded.
A few days after the APNU+AFC government took office, the CEO had instructed the unions that employees would not be paid and that the industry will close its doors.
But the new Agriculture Minister had said he was not informed of this development even after meeting with the CEO. He had described it as political mischief on the part of Dr Singh. The CEO was on the list of candidates for the PPP/C contesting the May 11 elections.