Raj Singh continues to play with the new Government

Sugar may need $16b to stay afloat

By Staff Writer On May 29, 2015 @ 5:25 am In Local News

The Guyana Sugar Cor-poration is requesting a whopping $16b to stay afloat otherwise the state-owned corporation is facing an industry-wide shutdown come Sunday.

Noel HolderNoel Holder

Stabroek News was informed that GuySuCo’s Chief Executive Officer, Dr Rajendra Singh was tasked with providing a comprehensive breakdown of the money required to stave off an industry shutdown. This followed his bombshell announcement to the sugar unions on Monday of the imminent closure of the industry if money was not found, in what has become a major problem for the days-old APNU+AFC administration.

Agriculture Minister Noel Holder confirmed to Stabroek News that he met with Singh yesterday and today the CEO is to provide him with an industry-wide plan. Holder said that “Mr Singh and I had a discussion, we think we have charted a way forward…he has to refine his document a bit more before we approach the Ministry of Finance.”

Holder noted that any further discussion including with the Finance Ministry was completely reliant on Singh’s ability to showcase how the money will be spent. “Only if we agree on that. If what he brings back is dissatisfactory, discussion will need to continue.”

Stabroek News inquired as to whether the Finance Ministry would need to be involved given that the Agriculture Ministry could provide immediate fiscal relief in the short term prior to a 2015 budget. Holder stated that the amount GuySuCo was requesting was large and that today he was looking for a “significant decline in that original figure.”

The Agriculture Minister told Stabroek News that “this isn’t like last time. Last year it was a line item, a line item in the budget. It is ridiculous you can’t just come get $6B on a single line item, no breakdowns.”

He said after discussions with Singh it was understood that there would be no government bailout without a comprehensive restructuring plan.

While GuySuCo is requesting billions in bailout money, a financial analyst familiar with the corporation’s history told Stabroek News that without a budget and without a functioning Parliament there is very little that can be done at this point in time to release large amounts.

The analyst told Stabroek News that the Agriculture Ministry could supplement the corporation by loaning four weeks of wages, approximately $600M. All of the government ministries have their own bank accounts with funds that can be utilized as loans for such circumstances.

Analyst Christopher Ram questioned how the government would be allowed to access the Contingency Fund for such a purpose and as a result he said that a bank loan taken out by the government may be one possibility.

Ram stated that the timing of the corporation’s declaration of an emergency was suspicious while noting that it seemed highly unlikely that there would need to be an industrywide shutdown. He noted that the Sugar Industry Labour Welfare Fund could be tapped into. GuySuCo is now in the out-of-crop period.

“It is really an awful dilemma. This is not only a GuySuCo problem, this is a country problem,” Ram said. Over 16,000 persons are employed by GuySuCo directly and thousands others would be affected by an industry closure.

He said that the countless subventions to the state-owned corporation by Parliament in recent years has played an incredible role in creating the present problem.

“I think the entire parliament has been delinquent. They have not attached any condition to the subventions made to GuySuCo,” he stated, adding that the corporation has not tabled any reports to the National Assembly as required by law for years.

“The Parliament, the Parliament of Guyana was pumping money into GuySuCo without the slightest hint of accountability,” he said.

Credit union

Meanwhile, the Guyana Agricultural and General Workers Union Co-operative Credit Union Society Limited issued a statement yesterday stating that GuySuCo owes $154,410,525 and it was therefore suspending its activities in the sugar industry.

Head of the main sugar union GAWU, Komal Chand called GuySuCo’s actions “immoral and illegal.”

He said that GuySuCo had been making deductions continuously for the past five months and only providing small payments to the Credit Union. Chand said that “this is not their money, this is workers’ money.”

Chand revealed that the Credit Union had previously been borrowing off of the promises that GuySuCo would become up to date on its payments. He said that now that the corporation has “declared themselves heavily broke,” over 5,000 sugar workers’ savings will be impacted.

He said that should a bailout be provided and workers return to work next week they had been informed to not allow the corporation to make Credit Union deductions.

“The sad decision, if it is not urgently redressed by the Corporation will cause the jobs of the Credit Union’s employees to be in jeopardy.

“The Credit Union, therefore, looks forward to receiving as early as possible from the Corporation the workers’ outstanding savings so that its dependable services to thousands of sugar workers would resume as early as possible”, the Credit Union said in a statement yesterday.

Yesterday’s action by the credit union, observers say, exemplifies how severe GuySuCo’s financial problems have been over the last few years and which problems were played down by the former PPP/C government. GuySuCo had also owed a substantial amount in remittances to the National Insurance Scheme.

The opposition PPP/C has not made any statement on the GuySuCo crisis even though it had been in government for the last 23 years and former President Donald Ramotar had been on the corporation board from 1992 until he assumed the presidency in 2011. Critics have said that the PPP/C government ignored the dire problems in the industry for the last five years, in particular, without coming up with viable solutions.

On Monday, Singh revealed that GuySuCo’s financial woes were so dire that without an immediate influx of money, operations would cease as of Sunday.

The corporation was scrambling to find funds earlier this year with the disclosure that the final destination for $3 billion which government had been attempting to transfer from the Guyana Geology and Mines Commission was GuySuCo.

Additionally, the corporation’s co-generation plant and three Wartsila power units at Skeldon were sold to a state-owned company specially created for the purpose at a price of US$30 million.

GuySuCo was also successfully sued by UK-based sugar management firm Booker Tate. On February 20, 2015 the High Court ordered GuySuCo to pay $204M for fees owed during the period Booker Tate managed the industry.

In the meanwhile, a one-year US$15M loan from National Commercial Bank of Jamaica to GuySuCo was being used to finance wages and operational costs . The status of the repayment is unclear although the loan was supposed to be paid back in full in 2015.

As of June last year, GuySuCo’s debt was at a whopping $58b equivalent to 31.6% of the 2014 National Budget.

Stabroek News was unable to reach Singh for comment up to press time yesterday.


Article printed from Stabroek News: http://www.stabroeknews.com

URL to article: http://www.stabroeknews.com/20...5/29/sugar-may-need-

Original Post

Well, the PPP from inception cursed the sugar industry. It is no wonder it has failed under their watch.

 

It might not be a bad thing for the industry to be temporary closed and a thorough review undertaken.

 

So far, there are complaints about the skedon Factory. Perhaps, cultivation might be a problem as well.

 

For years now I suspect the industry was in trouble. I tried doing business the MCD. I wasn't impressed with their process.

 

The Industry needs to have people on board who knows what to do.

Originally Posted by VishMahabir:

Raj Singh should be fired and be sent back to New Jersey where he belong. I don't understand why its so difficult to address this problem especially when 16,000 livelihood is at stake.

The workers needs to be be more assertive. Instead, they blindly follow the PPP. I have arrived at the conclusion, that the sugar worker care more about keeping Jagdeo and his band of crooks in power than looking after their own interests.  

Originally Posted by seignet:
Originally Posted by VishMahabir:

Raj Singh should be fired and be sent back to New Jersey where he belong. I don't understand why its so difficult to address this problem especially when 16,000 livelihood is at stake.

The workers needs to be be more assertive. Instead, they blindly follow the PPP. I have arrived at the conclusion, that the sugar worker care more about keeping Jagdeo and his band of crooks in power than looking after their own interests.  

Yu need one good braadside pon yuh backside.  You insult abie canecuttahs!

Originally Posted by baseman:
Originally Posted by seignet:
Originally Posted by VishMahabir:

Raj Singh should be fired and be sent back to New Jersey where he belong. I don't understand why its so difficult to address this problem especially when 16,000 livelihood is at stake.

The workers needs to be be more assertive. Instead, they blindly follow the PPP. I have arrived at the conclusion, that the sugar worker care more about keeping Jagdeo and his band of crooks in power than looking after their own interests.  

Yu need one good braadside pon yuh backside.  You insult abie canecuttahs!

We nah know that. Under normal circumstances if a cane cutter was robbed like that he would chop you up. But for some reason not one seems to have complained about the loss of his own money. Either they don't listen to the news, or they can't read the newspapers. Maybe now that the Chronicle start writing the truth, the canecutters think it is lying in favour of the new goverenment?

Fiscal irresponsibility should not be allowed by oversight boards nor by a majority opposition. The problem is that the opposition were more focused in slinging mud at Jagdeo rather than looking at financial statements.

Mr Singh has done an exceptional job since taking office.Many of his detractors such as those nimakharams in New Jersey and Queens aided by a two bit former estate owner in Guyana have been pushing fire even before it was officially announced that he was the new Guysuco's CEO.

Guysuco's problem is not the CEO but the culture of corruption that has existed since the Burnham days.A culture of rampant shakedown that starts with the poor canecutter who has to pay the field official to keep his work.Every payday you can see this shakedown at the payoffice.This type of shakedown goes right up to the estate managers who get the biggest dhare of the loot.Unless something is done to curb this criminal act then Guysuco will not progress .Similarly the procurement section need an overhaul.Many expensive line items  are for private use.Many items such as fertilisers,machinery and machine parts are ordered ans then resold back to Guysuco.Many expensive items such as fertiliser and machinery are further resold to the public.The finances of all of the estate managers need to be looked into for possible criminal practices.

Mr Singh has taken over from a set of extremely corrupt chairmen and CEOs.The previous executive used Guysuco to push his private business'How he acquired so much land and machinery while the CEO is questionable.Land acquired on Guysuco property,land in the rupununi ,going on supposedly Guysuco's business but later found was much to do with his private business interests.

Since Mr Singh  took over the mantle of a dysfunctional and corrupt corporation he has implemented new business structures and methods,has established new markets for sugar and contrary to moutars such as Tony Vieira and the aforementioned nemakharams in the US ,sugar production has increased,less work stoppage etc.

Nemhakarams such as Carpen,Jadopat and Soobrian the US have waged a war against Mr Raj Singh through their own attempt at commandeering the PPP supporters in the US.Sour grapes.

We own Potagee Vieira (one third) in Guyana with the help of stabroek new has also waged war against Mr Singh.He wants that job of CEO badly although his only claim to fame was a field man in a two bit estate.Given a chance he may one day tell Grainger that he can run President better.

Grainger better look out.

 

I hear the chief nemakhram saysing that he will close doen Guysuco but he was the man who told the sugar workers during the previous elections campaighn that he will increase their salaries by 30 percent.Talk about soup drinker.The man is shameless.No woner his own family didnt vote for him.

Close down Guysuco then what?.What will happen to all the thousands of low paid canecutters,people that get paid during the harvest season and use their money to tie them and family over for the rest of the year.

The same people who are shouting close Guysuco must remeber that although poor the canecutter community have produced many individuals that went on to become doctors and lawyers and shone in many other profesions.

Guysuco has a promising future but many issues need to be urgently addresses.

George DaSilva.

 

Originally Posted by george dasilva:

Mr Singh has done an exceptional job since taking office.Many of his detractors such as those nimakharams in New Jersey and Queens aided by a two bit former estate owner in Guyana have been pushing fire even before it was officially announced that he was the new Guysuco's CEO. 

 

 

 

 

Sugar may need $16b to stay afloat

By Staff Writer On May 29, 2015 @ 5:25 am In Local News

The Guyana Sugar Cor-poration is requesting a whopping $16b to stay afloat otherwise the state-owned corporation is facing an industry-wide shutdown come Sunday.

http://www.stabroeknews.com/20...-16b-to-stay-afloat/

Originally Posted by baseman:
Originally Posted by seignet:
Originally Posted by VishMahabir:

Raj Singh should be fired and be sent back to New Jersey where he belong. I don't understand why its so difficult to address this problem especially when 16,000 livelihood is at stake.

The workers needs to be be more assertive. Instead, they blindly follow the PPP. I have arrived at the conclusion, that the sugar worker care more about keeping Jagdeo and his band of crooks in power than looking after their own interests.  

Yu need one good braadside pon yuh backside.  You insult abie canecuttahs!

Yep.

 

I used to work in the sugar industry. It would be sad to see it fail. Bookers gave me a good start in life.

Originally Posted by george dasilva:

Mr Singh has done an exceptional job since taking office.......

Guysuco's problem is not the CEO but the culture of corruption that has existed since the Burnham days..

George DaSilva.

 

Perennial problem in places like Guyana, looking for excuses and not solutions.

 

Now, I did not realize "Burnham" dead hands were pulling the string from behind in this long entrenched PPP Govt.  Alyuh should have highlighted that during your campaign, Blacks would have flooded to the polls putting the "X" next to the cup.

 

Never hear such nonsense.  A sorry-ass excuse for incompetence.

Originally Posted by seignet:
Originally Posted by baseman:
Originally Posted by seignet:

The workers needs to be be more assertive. Instead, they blindly follow the PPP. I have arrived at the conclusion, that the sugar worker care more about keeping Jagdeo and his band of crooks in power than looking after their own interests.  

Yu need one good braadside pon yuh backside.  You insult abie canecuttahs!

Yep.

 

I used to work in the sugar industry. It would be sad to see it fail. Bookers gave me a good start in life.

Is weh you bin all diss time bai, remember, massa day done.

Originally Posted by george dasilva:

Mr Singh has done an exceptional job since taking office.Many of his detractors such as those nimakharams in New Jersey and Queens aided by a two bit former estate owner in Guyana have been pushing fire even before it was officially announced that he was the new Guysuco's CEO.

Guysuco's problem is not the CEO but the culture of corruption that has existed since the Burnham days.A culture of rampant shakedown that starts with the poor canecutter who has to pay the field official to keep his work.Every payday you can see this shakedown at the payoffice.This type of shakedown goes right up to the estate managers who get the biggest dhare of the loot.Unless something is done to curb this criminal act then Guysuco will not progress .Similarly the procurement section need an overhaul.Many expensive line items  are for private use.Many items such as fertilisers,machinery and machine parts are ordered ans then resold back to Guysuco.Many expensive items such as fertiliser and machinery are further resold to the public.The finances of all of the estate managers need to be looked into for possible criminal practices.

Mr Singh has taken over from a set of extremely corrupt chairmen and CEOs.The previous executive used Guysuco to push his private business'How he acquired so much land and machinery while the CEO is questionable.Land acquired on Guysuco property,land in the rupununi ,going on supposedly Guysuco's business but later found was much to do with his private business interests.

Since Mr Singh  took over the mantle of a dysfunctional and corrupt corporation he has implemented new business structures and methods,has established new markets for sugar and contrary to moutars such as Tony Vieira and the aforementioned nemakharams in the US ,sugar production has increased,less work stoppage etc.

Nemhakarams such as Carpen,Jadopat and Soobrian the US have waged a war against Mr Raj Singh through their own attempt at commandeering the PPP supporters in the US.Sour grapes.

We own Potagee Vieira (one third) in Guyana with the help of stabroek new has also waged war against Mr Singh.He wants that job of CEO badly although his only claim to fame was a field man in a two bit estate.Given a chance he may one day tell Grainger that he can run President better.

Grainger better look out.

 

I hear the chief nemakhram saysing that he will close doen Guysuco but he was the man who told the sugar workers during the previous elections campaighn that he will increase their salaries by 30 percent.Talk about soup drinker.The man is shameless.No woner his own family didnt vote for him.

Close down Guysuco then what?.What will happen to all the thousands of low paid canecutters,people that get paid during the harvest season and use their money to tie them and family over for the rest of the year.

The same people who are shouting close Guysuco must remeber that although poor the canecutter community have produced many individuals that went on to become doctors and lawyers and shone in many other profesions.

Guysuco has a promising future but many issues need to be urgently addresses.

George DaSilva.

 

"SUGAR"  www.timehritoday.blogspot.com

LISTEN CAREFULLY MR DASILVA:

1) I am the product of a canecutter family. My dad worked all his life in the sugar industry. The sugar industry is a brutal labor-intensive industry which pays sugar workers pittances for their hard labor. Workers get up at 4AM, sometimes getting home at 7PM. Unless this system is mechanized, it will tie the workers (mostly Indians) to the industry as slaves and make them chattels.

 

2) Sugar workers deserve better, like working a regular job, in an air conditioned office, etc, like others. More importantly, they need to be educated and brought into the modern world. Sugar is not going to do this for them. In places like Brazil and Trinidad, more so, diversification was the way to go. Trinidad had given the workers the land so they can make something of themselves.

 

3) Yes, the PPP did use the workers as a vote bank. They never wanted to consider any other plan except pumping money into the Skeldon estate and blaming lower productivity and world marker prices for a failure of the industry. It does not matter at this stage who says what, PPP or coalition. We need to fix this problem. CLOSING OR DIVERSIFICATION HAS TO BE SERIOUSLY EXPLORED.

 

4) Raj Singh should not have been imported to head the industry. He lives in New Jersey and was in charge of the ACG (PPP group) there. He is a very close friend of Donald Ramotar, who recruited him into this position. I know this for a fact.

 

5) People like you, with your partisan view, make it difficult to find a solution to this problem. You need to have an open mind....lets start by admitting that the industry is a failing one in Guyana...and lets not call people names like "nemakharams" and make this a political issue, more than it already has been.  

Originally Posted by VishMahabir:

LISTEN CAREFULLY MR DASILVA:

. Unless this system is mechanized, it will tie the workers (mostly Indians) to the industry as slaves and make them chattels.

 

2) Sugar workers deserve better, like working a regular job, in an air conditioned office, etc, like others. More importantly, they need to be educated and brought into the modern world

Hey hey, alyuh canecuttah hero leader, the late great Dr Cheddie B Jagan, just loved it that way.

 

They were not slaves to the sugar industry but slaves to the great loser Dr Jagan ideological morass and his inept and corrupt descendents huddled in the inner core of the PPP ruling clan.  On the bright side, maybe the PNC treat them better as they (PNC) will not want to be accused of "racism".

Originally Posted by TK:
Originally Posted by george dasilva:

Mr Singh has done an exceptional job since taking office.Many of his detractors such as those nimakharams in New Jersey and Queens aided by a two bit former estate owner in Guyana have been pushing fire even before it was officially announced that he was the new Guysuco's CEO. 

 

 

 

 

Sugar may need $16b to stay afloat

By Staff Writer On May 29, 2015 @ 5:25 am In Local News

The Guyana Sugar Cor-poration is requesting a whopping $16b to stay afloat otherwise the state-owned corporation is facing an industry-wide shutdown come Sunday.

http://www.stabroeknews.com/20...-16b-to-stay-afloat/

DaSilva makes it sound like Raj Singh just walked into Guysuco the other day.

Originally Posted by baseman:
Originally Posted by VishMahabir:

LISTEN CAREFULLY MR DASILVA:

. Unless this system is mechanized, it will tie the workers (mostly Indians) to the industry as slaves and make them chattels.

 

2) Sugar workers deserve better, like working a regular job, in an air conditioned office, etc, like others. More importantly, they need to be educated and brought into the modern world

Hey hey, alyuh canecuttah hero leader, the late great Dr Cheddie B Jagan, just loved it that way.

 

They were not slaves to the sugar industry but slaves to the great loser Dr Jagan ideological morass and his inept and corrupt descendents huddled in the inner core of the PPP ruling clan.  On the bright side, maybe the PNC treat them better as they (PNC) will not want to be accused of "racism".

I agree. Even Cheddi used them as a vote bank.

Originally Posted by Pointblank:
Originally Posted by VishMahabir:

Raj Singh should be fired and be sent back to New Jersey where he belong. I don't understand why its so difficult to address this problem especially when 16,000 livelihood is at stake.

He should be Jailed

Nah nah nah, one cannot be jailed for incompetence.

Originally Posted by VishMahabir:

LISTEN CAREFULLY MR DASILVA:

1) I am the product of a canecutter family. My dad worked all his life in the sugar industry. The sugar industry is a brutal labor-intensive industry which pays sugar workers pittances for their hard labor. Workers get up at 4AM, sometimes getting home at 7PM. Unless this system is mechanized, it will tie the workers (mostly Indians) to the industry as slaves and make them chattels.

 

Of course I agree about mechanisation,Ask the estate managers in Guysuco about that experiment and who kickbacks for sourcing extremely expensive machines,all which had to be abandoned.
No comparison to Trinidad where most of the canecutters drove to the canefield in cars.Canecutting was a second job for most of them.The land was sold off to the rich Indiand but the poor canecutters still try to get by  by selling vegetables and catching fish even today.I know Caroni and some of the smaller sugar planters in Trinidad estate well.
Nothing political but if one is percieved as a nemakharam you are.Basdeo Pandey first used the term publicly.East Indiand always used the term to describe an ungrateful or worthless person.
I agree that if necessary there should look at alternatives use of land but at the same time one has to look into a welfare of those who may be displaced.
When hanoman who had his primary residence in England was CEO ,no one said a word.When the Afican chap (cant remeber his name) was the chairman of Guysuco under Burnham and who has homes in the US and England and used the company for first class flight throughout theworld for he,his entourage and family no one said a word He was a close friend of Burnham and a staunch PNC supporter.Yes you dare not say a word for fear of being beaten up or harassed.
What political issue.This is a political issue couched in all types of excuses,not profitable,inefficientetc.
Many talk but behind that talk there are no facts and data.Show me the data.Guess it is the same as asking Gecom for copies of Statement of polls.
 

Haslyn Parris. My fear is they might give him the job again. Or possibly to Norang Persaud-which will also a mistake. AFC is favored of Norang Persaud.

 

It is true of the PNC era. Lack of foreign exchange drove the industry into cannibalism. Forcing a lot of estates to close down.

Originally Posted by seignet:

Haslyn Parris. My fear is they might give him the job again. Or possibly to Norang Persaud-which will also a mistake. AFC is favored of Norang Persaud.

 

It is true of the PNC era. Lack of foreign exchange drove the industry into cannibalism. Forcing a lot of estates to close down.

No not Haslyn Paris it was a Dr something.

However wasnt Haslyn Paris who got beaten up in Congress Place after a previous elections when the PPP won?He commented that the elections was free and fair.Dont think that he is well remembered.I heard that he runs a rumshop near Buxton.

Originally Posted by george dasilva:
Originally Posted by seignet:

Haslyn Parris. My fear is they might give him the job again. Or possibly to Norang Persaud-which will also a mistake. AFC is favored of Norang Persaud.

 

It is true of the PNC era. Lack of foreign exchange drove the industry into cannibalism. Forcing a lot of estates to close down.

No not Haslyn Paris it was a Dr something.

However wasnt Haslyn Paris who got beaten up in Congress Place after a previous elections when the PPP won?He commented that the elections was free and fair.Dont think that he is well remembered.I heard that he runs a rumshop near Buxton.

Yes, he did get beatup.

My reply to George...there were errors in the last post...

 

OK George, I seem to have caught your attention here.

I do not see anything new in your original missive, or in mine for that matter. Your point regarding the workers inability to use the new equipment confirms my point. Sugar workers are “lumpen elements” and the uneducated, unskilled workers must be trained to use those new equipment. We live in a highly technological world.  

This issue IS a political football. Even you are doing so here with the curt reference to GECOM.  I do not care what happen under Burnham or Cheddi, we must look ahead. Politicians, whether on the coalition or PPP side must address the issue: I still say close it or diversify. And George, the name calling (nemakharams) is not helpful.

The government needs to form a committee of intelligent minds (not political minds) to study this problem and come up with solutions. However, the workers must be involved in the process from the get go and their input must be solicited so that they can understand the final decision that is made regarding the industry.

George, I do not know you from a hole in the wall, but I take it in good faith that you also want to FIX this problem. If facts are what is needed, a study must be commissioned and the options must be laid bare for the government to select the best option.

Vish

Originally Posted by baseman:
Originally Posted by george dasilva:

Mr Singh has done an exceptional job since taking office.......

Guysuco's problem is not the CEO but the culture of corruption that has existed since the Burnham days..

George DaSilva.

 

Perennial problem in places like Guyana, looking for excuses and not solutions.

 

Now, I did not realize "Burnham" dead hands were pulling the string from behind in this long entrenched PPP Govt.  Alyuh should have highlighted that during your campaign, Blacks would have flooded to the polls putting the "X" next to the cup.

 

Never hear such nonsense.  A sorry-ass excuse for incompetence.


Ulele says that she is confused.  She thought that her father died 30 years ago, but yet every thing wrong with Guyana is blamed on him.

 

Why is the PPP not at all embarrassed by admitting that people who were kids in the Burnham era are to blame for corrupt behavior.   Where would they have learned this from?  By the time they began to work for Guysuco, Burnham had died long before.

The Agriculture Minister told Stabroek News that “this isn’t like last time. Last year it was a line item, a line item in the budget. It is ridiculous you can’t just come get $6B on a single line item, no breakdowns.”

 

Like Raj still think he under the PPP pop government?

Originally Posted by seignet:

The system just continued the way Burnham had it set up. The PPP juss as a bad as Forbes. THey loved Forbes constitution and Forbes corrupt ways of doing things.

They think they gon hide behind LFSB jhumbie for ever.  Now jhumbie deh pun dem.

Originally Posted by TI:

Fiscal irresponsibility should not be allowed by oversight boards nor by a majority opposition. The problem is that the opposition were more focused in slinging mud at Jagdeo rather than looking at financial statements.

Dem boys can't read financial statements...I would love to see Granger reading one and explaining one line...

Originally Posted by alena06:
Originally Posted by TI:

Fiscal irresponsibility should not be allowed by oversight boards nor by a majority opposition. The problem is that the opposition were more focused in slinging mud at Jagdeo rather than looking at financial statements.

Dem boys can't read financial statements...I would love to see Granger reading one and explaining one line...

You mean like Burnham who thought Accumulated Depreciation was "Funds in the Bank" to purchase new assets.  He demanded Demba transfer the money to the national treasury.

 

Granger is better, he is married to someone from a business family and Dominic is a Finance guy.

Originally Posted by VishMahabir:

My reply to George...there were errors in the last post...

 

OK George, I seem to have caught your attention here.

I do not see anything new in your original missive, or in mine for that matter. Your point regarding the workers inability to use the new equipment confirms my point. Sugar workers are “lumpen elements” and the uneducated, unskilled workers must be trained to use those new equipment. We live in a highly technological world.  

This issue IS a political football. Even you are doing so here with the curt reference to GECOM.  I do not care what happen under Burnham or Cheddi, we must look ahead. Politicians, whether on the coalition or PPP side must address the issue: I still say close it or diversify. And George, the name calling (nemakharams) is not helpful.

The government needs to form a committee of intelligent minds (not political minds) to study this problem and come up with solutions. However, the workers must be involved in the process from the get go and their input must be solicited so that they can understand the final decision that is made regarding the industry.

George, I do not know you from a hole in the wall, but I take it in good faith that you also want to FIX this problem. If facts are what is needed, a study must be commissioned and the options must be laid bare for the government to select the best option.

Vish

Totally agree.

This use to happen many decades ago but during the 70s and 80s it seem not to have been functioning,This state of affair continued under the PPP regime.

Workers from canecutter up must have a voice in their industry or else we will continue the massive corruption and inefficiency.

Yhe workers must be involved in every stage of their industry.

Thank you for your objective post.

 

George DaSilva

 

"

As of June last year, GuySuCo’s debt was at a whopping $58b equivalent to 31.6% of the 2014 National Budget."

 

so this this has been an ongoing problem, and the deficit is plugged by moving funds or loans from other agencies.  

Originally Posted by TI:

"

As of June last year, GuySuCo’s debt was at a whopping $58b equivalent to 31.6% of the 2014 National Budget."

 

so this this has been an ongoing problem, and the deficit is plugged by moving funds or loans from other agencies.  

Communist Accounting practices, DDR!!

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