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Guyana Gov’t could be bowing to the pressure over the management of GUYSUCO – 31st May 2013

shot0004Big changes are expected at GUYSUCO as the struggles in the sugar industry continue to unfold. There are reports that the Government is currently reviewing the board and is looking for a new CEO.

That position may soon be vacant as the Government continues to express frustration over the poor management of the industry. Just recently the Alliance For Change had called for the entire Board to be fired since according to the AFC, the injection of taxpayers dollars has failed to change the fortunes of the industry.

A new board was installed a few years ago with the aim of turning around the struggling sugar industry, which was reeling from the European Union’s 36% price cuts.

Added to the struggle of the industry, the new Skeldon Sugar Factory has failed to live up to its expectations and the shortage of an adequate supply of cane has also contributed to its woes.

Both the APNU and the AFC have called for the launch of a Commission of Inquiry into the operations of GUYSUCO.

Since the cuts were implemented some years ago, Guyana has struggled to maintain both its local and international markets.

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