As the sugar industry races to make a 240,000 annual target and with the second crop currently underway, the Opposition has announced its intentions to ask Government to release plans on how the fortunes of the state-owned company are to be improved.Already, a number of suppliers have reportedly pulled their credit line.AFC’s Vice Chairman and MP, Moses NagamootooThe Guyana Sugar Corporation (GuySuCo) fell way short of the first crop target of 71,000 by almost 23,000 tonnes, its worst performance in almost 20 years.This current crop has been described, by the workers’ largest union, Guyana Agricultural and General Workers’ Union, as a critical one for the industry. It has left the industry in a severe cash crunch situation.According to Moses Nagamootoo, a senior Parliamentarian for the Alliance For Change (AFC), the administration, despite being requested, has failed to table in the National Assembly, an updated “turnaround” plan.Both AFC and A Partnership For National Unity (APNU), which controls the National Assembly by one seat, voted a $1B cash boost to GuySuCo earlier this year to help the ailing Corporation. But they demanded that the Government table its plans on what will be done to make GuySuCo more sustainable.“The sugar industry continues to be mired in scandals, controversy and uncertainty. Government is in a guessing game whether or not it could restore the industry to some sort of viability. It says Dr. Rajendra Singh (current Chairman) might be the new CEO but is dumb on whether there would be an overhaul of the failed Board (of Directors),” said Nagamootoo yesterday.Government recently signaled its intentions to overhaul the Board of Directors and replace current Chief Executive Officer,
Cheap Nike Air Max 90 Mens Trainers, Paul Bhim, with Dr. Singh, the serving Chairman. Bhim would be second in command, in the proposed shakeup.Government had taken flak after it was disclosed that GuySuCo was flying in Dr. Singh every month from New Jersey,
Adidas Nmd r1 Women, US, for meetings.The Board has also come under attack for not doing enough to rescue the industry which at one time was the biggest foreign currency earner for the country.Benefits“It says it would turn around the industry but has failed to table any “Turn Around Plan” in Parliament. What is certain is that this government has made a huge turn over from the windfall $25B since 2006 from the European Union Development Fund.“I had asked before, and again, how much of this bonanza was spent on agricultural diversification? Was any spent on the modernization project? Did cane farmers get any money from this fund?” asked Nagamootoo.Following a staggered,
Huarache Shoes For Men, accumulative 36 per cent price cut in 2006 by Europe, Guyana’s biggest raw sugar buyer, and plans to end the practice of sugar quota by 2020, the European Union had made an annual amount to tune of billions available to help the industry deal with the fallouts.GuySuCo’s suppliers are reportedly wary of the cash crunch facing the industry.Recently, Europe decided it will open up its market by 2017 to its sugar farmers, raising fears that countries like Guyana which depend on the sweetener, will have to look for new markets.Already, because of poor yields and inefficiency at factories, Guyana’s cost of production for sugar has been considered too high.According to Nagamootoo,
Cheap Nike Air Max Shoes, yesterday,
Nike Shox Women Clearance, his party has started examining strategies to ask the EU to delay the ending of the quota system to allow Guyana more time.“We propose to meet the EU to convey our concerns. We are, of course, concerned on the other hand that it is unlikely that we could realise our sugar production target again this year.”GuySuCo has targeted a hefty but not impossible target of 190,
Cheap Air Max 95 Sale,000 of sugar this crop to reach the original 240,000 tonnes set for this year.But it has been battling weather, strikes and poor yields. Nagamootoo also blamed GuySuCo’s management and Board for the state of affairs in the Corporation.“The weather has not been kind to us but we have to meet the vagaries of nature with visionary and planned goals. Mismanagement is not the work of God.”He backed suggestions by President Donald Ramotar to release lands for cane farming cooperatives as a means to boost production.
