to stay longer than expected in Guyana.According to Jackson

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‘Industrial actions led to dilemma’ – GuySuCo CEOGuyana will lose some $300M in revenue from the sugar industry having missed the targeted 55,000 tonnes required in a contractual obligation with its European Union priority market.The agreement, which Guyana has with EU, states that corporation had a commitment to provide the aforementioned quantity of sugar by September 5, which was last Friday. Only 45,000 tonnes were shipped.Whilst Guyana will still supply the remaining 10,000 tonnes, the price will vary, Chief Executive Officer of the Guyana Sugar Corporation (GuySuCo), Nick Jackson, told Kaieteur News yesterday.Speaking with this newspaper from Canada, Jackson said that, unfortunately, the industrial actions during the year gravely affected production.GuySuCo CEO, Nick JacksonHe explained that the company is attempting to ship the other 10,000 tonnes of sugar by October 1, since the sugar year is calculated in 15-month periods.The current sugar year is considered as July 1, 2008 to September 30, 2009.Technically, Jackson added, Guyana did not fall short on its quota but instead only missed out on the high price.The $300M in revenue includes the demurrage on the vessels that was paid.This means that the corporation had to pay a fee for the ships which were hired, to stay longer than expected in Guyana.According to Jackson, this fee was paid since the ships arrived in Guyana as scheduled, but the company could not have met the shipment.Meanwhile, the arbitration tribunal established to deal with the wages dispute between the Guyana Sugar Corporation and the Guyana Agricultural and General Workers Union (GAWU) will meet again tomorrow.The members of the tribunal have agreed that a preliminary dialogue should be held between two entities.The three-man team, led by Dr. Gobind Ganga, was established on August 29 to deal with the wages dispute.The other members of the team are Attorney at Law, Cecil Seepersaud and Major General (ret’d) Norman McLean.The dispute between the two bodies has been taken to arbitration, after efforts in the conciliation process proved futile.Both sides will be bound by the decision of the arbitration panel.Minister of Labour, Manzoor Nadir told the media that after the deadlock was declared on the negotiations, he had imposed compulsory arbitration.Soured wage negotiations between the company and the GAWU resulted in workers taking industrial action, which has to date lasted for almost three weeks.