Tag Archives: Guyana Sugar Corporation (GuySuCo).

GuySuCo’s money runs out – Chairman says accountants resign; credit being refused

06/10/2020 – 2:12 am

Jun 10, 2020  KaieteurNews

The smaller-sized state-owned Guyana Sugar Corporation (GuySuCo) says it has no money and wants the Government to help.

According to the largest union for sugar workers, the Guyana Agricultural and General Workers Union (GAWU) yesterday, it has learnt that GuySuCo is facing the prospect of closure having exhausted its finances and was desperately requiring the support of the Government.

In a letter of May 15, 2020 from GuySuCo’s Chairman, John Dow, appealed to President David Granger for his intervention “…to use your good offices to arrange for funding to prevent the impending closure of the Industry”.            Continue reading →

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Caribbean Community: Extensive tax evasion sinking struggling sugar industry

07/29/2019 – 12:04 am

– study recommends regional approach, tax on extra-regional imports to boost sector

A study commissioned by Caribbean sugar producers has recommended a region-wide approach to producing white sugar and urged the enforcement of a tax on most sweeteners imported into the region even as domestic producers highlight extensive tax evasion by importers.

The report by the United Kingdom-headquartered LMC International has underscored the challenges faced by producers in Caribbean Community (CARICOM) countries who struggle to compete with the cheap sugar sourced extra-regionally.      Continue reading →

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Guyana: Green transformation versus narrow thinking – Editorial – Stabroek News

02/28/2019 – 7:25 am

Green transformation versus narrow thinking

On its website’s homepage, the Guyana Sugar Corporation (GuySuCo) proudly displays what it terms a ‘new GuySuCo’. It says that it is “transforming our business” and “exploring our potential: rice cultivation and other crops to ensure the sustainability and viability of our business”. Arrows point from this statement to labelled photographs of cane sugar, fruit crops, aquaculture, dairy farming and seed paddy.

And sadly, that is as far as the transformation extends, although there is a notification lower on the page where GuySuCo explains why it is not pursuing ethanol production as an alternative to sugar production. The explanation, with references to studies, prices and comparisons with other countries producing ethanol makes perfect sense. What doesn’t is why GuySuCo’s research is limited to cane agriculture.        Continue reading →

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GuySuCo: massive procurement fraud – Billions wasted and stolen

05/22/2018 – 8:39 am

GuySuCo has over $3B in outdated Fiat tractor spares in stock

 May 22, 2018 – Kaieteur News

– growing evidence of massive procurement fraud over time

The suspicions were there all along. But the evidence was missing. Until now.
In recent years, the state-owned Guyana Sugar Corporation (GuySuCo) has been asking for and receiving billions of dollars annually in bailouts to pay workers and creditors.

The fortunes of the company have been steadily declining, with production plunging and poor maintenance, theft and the quality of agriculture at its lowest. Despite that, consecutive administrations facing watchful unions and a 16,000-plus strong workforce were unwilling to resist GuySuCo’s demands for cash.    Continue reading →

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Guyana Politics: Jagdeo’s attack on GAWU

02/22/2018 – 3:36 pm

Guyana Politics: Jagdeo’s attack on GAWU

Feb 22, 2018 Kaieteur News –  Editorial 

The past few weeks have been a trying period for the sugar workers and their union, the Guyana Agricultural and General Workers’ Union (GAWU).The closure of four sugar estates by the government was criticized by the political opposition, unions, especially GAWU and sugar workers.

For years, the Guyana Sugar Corporation (GUYSUCO) was kept afloat by billions of dollars in subsidies from the government. Since taking office in May 2015, the Granger Administration pumped some $32 billion into GUYSUCO.   Continue reading →

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Skeldon’s massive losses…Workers dumped tonnes of cane-juice to make payday, forged accounts

09/13/2017 – 12:30 am

Skeldon’s massive losses…Workers dumped tonnes of cane-juice to make payday, forged accounts

Sept 12, 2017  – Kaieteur News –– South African engineer complains

A South African-based engineer hired several times to help fix the problems with the Chinese-built Skeldon sugar factory, had raised alarming questions about the operations there but there is little evidence anything was done by management.

Engineer, Vishal Somai, who was instrumental in recommending that Skeldon don’t grind for the first crop this year because of unsafe boiler conditions at that Berbice factory, described the dumping as criminal.
It helped contribute to the new factory’s under-performance in its seven years.   Continue reading →

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Guyana: Sugar workers’ strike gets labels: “Illegal,” “political”

10/27/2015 – 12:02 am

Sugar workers’ strike gets labels: “Illegal,” “political”

Even as the Guyana Sugar Corporation (Guysuco) appealed to  the Guyana Agricultural Workers Union (GAWU) to end its “illegal” strike, the Minister of Agriculture Noel Holder labeled the industrial action“political.”

GAWU, which is closely aligned to the People’s Progressive Party (PPP), called a three-day strike on Sunday to press demands for management to begin pay negotiations. However, management has said that it is best to await the release of the report of the Commission of Inquiry into the ailing sugar industry before going to the bargaining table.    Continue reading →

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Former CEO costs GuySuCo US$75M, abused company laws

09/04/2015 – 12:05 am

Former CEO costs GuySuCo US$75M, abused company laws

SEPTEMBER 3, 2015 | BY | By Kiana Wilburg

– Reportedly traded sex for salary increase and promotion with Rose Hall employee

Former GuySuCo CEO, Rajendra Singh

It didn’t take the coalition government much digging to unearth some of the unimaginable infractions committed by Dr. Rajendra Singh when he served as CEO of the Guyana Sugar Corporation (GuySuCo).

Government reportedly has “indisputable” evidence to justify Dr. Singh’s dismissal. The government cited the violation of GuySuCo’s procurement procedure for equipment, spares and other items, the infringement of the corporation’s disciplinary procedure and the contravention of the corporation’s procedure regarding recruitment, promotion and remuneration of employees.   Continue reading →

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Guyana: Growing Caricom competition for regional sugar markets – 2 articles

08/15/2015 – 12:08 am

Prime Minister Moses Nagamootoo addressing the opening of the National Conference of Private Cane Farmers.

Guyana facing growing intra-Caricom competition for regional sugar markets

Friday, 14 August 2015- Demerara Waves

Photo: Prime Minister Moses Nagamootoo addressing the opening of the National Conference of Private Cane Farmers.

The Chairman of the Board of Directors of the Guyana Sugar Corporation (GuySuco), Professor Clive Thomas and the entity’s Chief Financial Officer (CFO), Paul Bhim on Friday differed about the viability of marketing sugar in the Caribbean due to increasing competition from sister producers.

Delivering a presentation at the inaugural National Cane Farmers Conference, Thomas said one option open to the loss-making entity is to sell more sugar to sister Caribbean Community (Caricom) countries by taking advantage of market protection through the 40 percent Common External Tariff (CET).   Continue reading →

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Sugar Industry in trouble…Booming rice sector could still go bust – Dr. Clive Thomas

06/16/2015 – 1:31 am

Those economic time bombs…Booming rice sector could still go bust – Dr. Clive Thomas

Economist, Dr. Clive Thomas

Dr. Clive Thomas

JUNE 14, 2015 | BY |Given his analysis of the economy and its revenue earners, local economist Dr. Clive Thomas believes that while the rice market may be booming at this point, certain factors affecting it, leaves the industry poised for a dispiriting future. He believes that it could very well be on the brink of a collapse.

In his recent writings, Dr. Thomas opined that while the sugar commodity life cycle for Guyana is in long-term decline, rice has been in a marked upswing. Contrarily, he said, “The ticking time-bomb that rice is perched” on is due to three factors. He listed these to be explosive growth of output, increasing difficulty in finding lucrative markets and the level of unit production costs.  Continue reading →

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