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By Kiana WilburgWhen it comes to the future of the sugar industry, it appears that the coalition Government will be in forFinance Minister, Winston Jordanquite a balancing act.On one hand, Government is saddled with the Guyana Sugar Corporation (GuySuCo), a state entity managing a sector that gobbles up in no time, its annual budgetary allocations before the end of the fiscal year.As such, GuySuCo is constantly stretching its hand for more tax dollars. For political and social reasons, the Government grants the requests for bailouts.On the other hand, the Government must satisfy the International Monetary Fund (IMF). The administration promised the IMF that bailouts to the sector would be reduced.The IMF documented this in its Article IV Consultation report in March, last. The report said that according to the authorities in Guyana, planned budget transfers for the sugar industry have been substantially reduced for 2016 and are expected to steadily decline and eventually cease over the medium term.The IMF also noted that transfers to the loss-making state-owned sugar company (GuySuCo) remain a drag on fiscal performance.In its report,Jerseys From China, it noted that transfers to GuySuCo were equivalent to 1.8 percent of GDP in 2015 and are budgeted at about 1. 3 percent of GDP for 2016.IMF Staff urged the local authorities to adopt a restructuring plan for the sector that will improve cost efficiency, productivity, and alternative revenues streams, drawing upon the reforms proposed by the Commission of Inquiry into GuySuCo. It said, too, that the scope and pace of reform should take into account social implications.BAILOUTIn spite of receiving a whopping $9B at the start of the year, GuySuCo recently appealed to the Government for a further $3.5B.At today’s sitting of the National Assembly , Members of Parliament are expected to consider Financial Paper No. 3/2016 – Supplementary Estimates (Current and Capital) totaling $9,518,122,347. It is expected to be presented by Finance Minister, Winston Jordan. Of that $9B, Government is expected to be giving GuySuCo some $2B.Further, the Corporation has projected a cash deficit in 2017 and will be seeking a cash injection of $18.59 Billion from the government if the status quo remains.HARD ROCK, DEEP SEAAgriculture Minister, Noel HolderPrime Minister, Moses Nagamootoo told this newspaper last night that the Government has perhaps found itself between ‘a hard rock and a deep sea.’The First Vice President said, “We will not allow the sugar industry to perish even though we have inherited it critically afflicted with the disease of mismanagement and indebtedness.”Nagamootoo added, “We understand that bailouts to the industry are unsustainable but until and unless a viable and definitive alternative is found, periodic intervention to keep the industry afloat is necessary even on the humanitarian grounds of preventing sugar workers from going on the breadline as has happened in many countries.”The Prime Minister said that for the time being, he would not comment on the promise made to the IMF. “But Government is hurting; Guyana is hurting from this drain of public monies into the sugar industry. We need to have a critical understanding of when the former president Bharrat Jagdeo said that without Skeledon,Wholesale NFL Jerseys, sugar is dead.“US$200M later and what we have now is a white elephant.”Nagamootoo said that Government is essentially carrying Jagdeo’s burden. He said that it is the Government’s hope, that the sugar workers and their unions would understand that and not make the situation worse.“Being a labour person and coming out of the struggles of sugar workers, it is difficult and it is hard; (Government) is between a hard rock and a deep sea. We are trying to bite the bullet not withstanding that we are courting trouble. But sugar is too important to abandon at this time,” the Prime Minister added.Finance Minister, Winston Jordan said that he is awaiting the presentation of a paper by the Minister of Agriculture, Noel Holder to Cabinet. He said that the paper is based on the realignment of the sugar industry.DISAPPOINTING PERFORMANCEAccording to statistics from the Ministry of Finance for the first half of the year, the Guyana Sugar Corporation recorded an operating surplus of $2.9 billion, down from an operating surplus of $3.0 billion for the same period last year. This surplus it said was inflated by a $9 billion transfer from the Central Government to finance operations.Prime Minister,Moses NagamootooWithout this transfer,Cheap Adidas NHL Jerseys, the Ministry of Finance noted that GuySuCo’s true position would be a deficit of $6 billion.In the future, the Finance Ministry said that all Central Government transfers will be shown as financing, instead of being included as p