Gov’t to inject $600 million into cash-strapped GuySuCo

The Government will inject some $600 Million into the Guyana Sugar Corporation (GuySuCo) to assist with wages and salaries for employees.

Minister of Agriculture, Zulfikar Mustapha on Sunday relayed to DPI that a sum of $120 Million is required weekly to fulfil the payments of salaries.

Previously, it was reported that due to the financial state of the entity, the Corporation will not be in a position to pay wages from the week ending 21 August.

Minister Mustapha on Sunday said the move by the PPP/C Administration is in keeping with commitments made in its manifesto to revamp and reopen those sugar estates which were closed under the previous APNU/AFC government.

The Agri-Minister confirmed that the sum was among others approved by Cabinet and has received the green light by both President and Vice President of the Cooperative Republic of Guyana, His Excellency, Dr. Mohamed Irfaan Ali and Dr. Bharrat Jagdeo respectively.

Minister Mustapha also relayed that as part of its capital works, GuySuCo will be required to submit a report which will take into consideration the reopening of closed sugar estates.

Additionally, immediate infrastructural works are expected to begin at the Mahaica Mahaicony Abary-Agricultural Development Authority (MMA-ADA) Scheme.

Following a proposal made by the subject Minister, Cabinet has approved $90 Million to aid in this regard.

On August 15, Minister Mustapha along with a team from several Agriculture Agencies visited the Mahaica-Berbice district, where he engaged several farmers. While there, the Minister learnt about the dilapidated state employees are forced to endure.

The Minister also referred to concerns raised by farmers that despite the previous government instituting steep increases in land rentals, no proper infrastructural work was done to help alleviate their plight. (DPI)