(Photo: Guyana Sugar Company)

Guyanese Gov’t provides funds for sugar company

(Photo: Guyana Sugar Company)

The Government of Guyana says it will provide GUY$600 million (One Guyana dollar=US$0.004 cents) to the Guyana Sugar Corporation (GuySuCo) to assist with the payment of wages and salaries for employees.

The Guyana Sugar Company will receive GUY$600 million from the Government to help pay wages. Photo: Guyana Sugar Company)

Agriculture Minister, Zulfikar Mustapha, said that GUY$120 million is required weekly to fulfill the payments of salaries.

A government statement reported that due to the financial state of the entity, the Corporation was not in a in a position to pay wages from the week ending August 21.

But Mustapha told the state-owned Department of Public Information (DPI) that the move by the new administration is in keeping with commitments made in its manifesto to revamp and reopen those sugar estates which were closed under the previous government.

(Photo: Guyana Sugar Corporation)

Mustapha also indicated 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 and DPI said that following a proposal made by Mustapha has approved GUY$90 million to aid in this regard.