GuySuCo, NICIL issues to be addressed by Cabinet in coming weeks

DPI Guyana, Friday, June 14, 2019

Director General of the Ministry of the Presidency, Joseph Harmon, has confirmed that the issues between the Guyana Sugar Corporation (GuySuCo) and the National Industrial and Commercial Investments Limited’s Special Purpose Unit (NICIL/SPU) has engaged the attention of the Cabinet.

The NICIL/SPU had accused the Guyana Sugar Corporation (GuySuCo) of withholding critical information, making it difficult for the four ‘closed’ sugar estates, Skeldon, Rose Hall, East Demerara (Enmore) and Wales to be evaluated and marketed.

Subsequently, the GuySuCo accused NICIL and the SPU of crossing their boundaries and interfering in the internal operations of the sugar company. It also released a list of records submitted to NICIL, claiming that the Unit has left it in the dark about the sale of its own assets.

Speaking at a post-cabinet press briefing today at the Ministry of the Presidency, DG Harmon explained that the relationship between the two entities was noted by the Cabinet and the matter will be dealt with in the coming weeks.

“Sometimes the players themselves in the industry, even though you say to them keep these exchanges away from the media and let us deal with them inhouse, sometimes you wake up and look into the newspapers and it’s there…Cabinet has already given guidance and certainly will look at it again,” Harmon explained.

The DG however made it clear that government will not interfere with the day to day operations of the two entities.

He stressed, “NICIL has a board and so too does GuySuCo and from time to time the Ministers [Winston Jordan and Noel Holder] will give guidance…The boards will have to find ways of getting their work done and the ministers will give broad policy guidelines, but they will not intervene on the day to day management of these two companies.”

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