GuySuCo CEO sacked – Board Members forced to resign with immediate effect

THE Chief Executive Officer (CEO) of the Guyana Sugar Corporation (GuySuCo) Dr. Rajendra (Raj) Singh was yesterday dismissed with immediate effect, while all Members of the Board have been asked to tender their resignations, also with immediate effect.The Guyana Government made the official announcement yesterday and assured the more than 16,000 workers employed in the sugar industry, “that they will be paid and there will be no closing of the Sugar Corporation.”

The moves yesterday comes following another request for a bailout for the ailing sugar industry, this time to the tune of $16B, compounded by increasing losses suffered by GuySuCo over the years, with Dr. Singh at the helm.
The $16B bailout requested by the cash strapped Sugar Corporation also follows a $6B bailout which GuySuCo received last year.
News of the dismissal of Dr. Singh, from the helm of the sugar industry came by way of an official Government missive which said he was dismissed on “the directive of Cabinet.”
Agriculture Minister, Noel Holder issued the letter of dismissal to Dr. Singh which, “takes immediate effect,” according to the Government’s statement.