Members of the Board of Directors of the Guyana Sugar Corporation (GuySuCo), met today with President David Granger and Cabinet members on the current status of operations at the organisation, as well as future plans.
A statement from the Ministry if the Presidency said Cabinet was given a full presentation by Chief Executive Officer of GuySuCo, Mr. Errol Hanoman and Chairman of the Board, Professor Clive Thomas.
At the close of the presentation, President Granger said that the report will be thoroughly examined and discussed at Cabinet in an effort to make a determination on the industry, which will be beneficial to all concerned.
Billions of dollars have been pumped into Guysuco over the years to keep the industry afloat as productivity and profits continue to dwindle.
Last month, the sugar company informed the worker’s union that it is heading to another year of losses and therefore would be unable to offer any increase in salaries for sugar workers.
Just last week, the government indicated that it is also open to meet with the Opposition, People’s Progressive Party, on the future of the sugar industry.
The Opposition Leader recently admitted that many of the problems facing Guysuco started under his time in office as President.