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– interim managers take helmThe new Government says it has approved the release of monies to help the sugar industry return toOn the job: Interim Manager, Errol Hanomannormalcy.The Ministry of Agriculture yesterday, in the statement announcing the approval of the undisclosed amount, said that the release is a clear assurance of the Government that measures are being taken to ensure that the industry continues to be alive.Just after taking office last month,Deion Jones Falcons Jersey, the new Government faced a major test after the Guyana Sugar Corporation (GuySuCo) announced, it would have to close the industry unless a major cash injection is received.A US$2M loan from a Jamaica bank was fast-tracked over the weekend, averting a crisis.This week, the Cabinet of Ministers refused to entertain a request by the corporation to help bridge this year’s $17B shortfall.Instead, the Cabinet terminated the services of the Chief Executive Officer, Dr. Rajendra Singh, and sacked the entire Board of Directors, citing the dismal production and finances which have shown no signs of improvement.Singh was a candidate on the People’s Progressive Party/Civic list during the recent elections.According to the Ministry yesterday,Marlon Humphrey Jersey, nothing has changed in terms of the operation of the 16,Andre Branch Dolphins Jersey,000-plus workers strong industry.“Notwithstanding the recent change in the GuySuCo management,Cheap Sports Jerseys, workers can rest assured that the industry is here to stay. In addition, all sugar factories will remain operable. To ensure that the CorporationOn the job: Interim Manager, Paul Bhimcontinues to survive, an Interim Management Committee (IMC) has also been put in place. It is now working and has already been meeting with management on the way forward for sugar in Guyana. The Commission will oversee the work of the Corporation for at least six months.”The IMC comprises of former CEO, Errol Hanoman, and Paul Bhim, who reportedly started work on Thursday, one day after Singh and the Board was fired.According to the Ministry, its promised Commission of Inquiry (COI) will also be launched shortly to probe the affairs of the sugar corporation.“The Government wishes to assure workers that investing in sugar is investing in Guyana and as such, all necessary action will be taken to ensure its sustenance.”Last year, the industry received a $6B injection from Government. GuySuCo has been asking for help in recent years after a 36 percent slash over a five-year period saw its revenues in tatters.Falling production, which dropped to a two decades low, have not helped with costs for producing sugar almost double of what it was being sold for.Its newest factory, part of the US$200M Skeldon expansion project, has failed to reach targets since being commissioned over five years ago.Meanwhile,Deion Sanders Falcons Jersey, GuySuCo’s largest union, the Guyana Agricultural and General Workers Union (GAWU) yesterday, urged Government to speed-up access to almost $4.7B (Euros 20M) in assistanceGovernment yesterday said it has released a cash bailout for the struggling GuySuCo.that has been held up by the European Union pending elections.The monies could not be released unless Parliament is convened. This is expected to happen this week.EU had insisted that it needed Parliamentary oversight of the spending before it could release the support monies.GAWU yesterday said it has noted with heightened concern the continuing financial difficulties being faced by GuySuCo.“The financial plight of the industry was correctly commented on in recent weeks by both of our major political entities. Both approaches, in our view, were positive. But the time to act is now. GAWU is aware that GuySuCo is yet to receive the €20.2 million (G$4.76B) that has been earned under the European Union (EU) sugar sector budget support programme, although GuySuCo met the indicators required to qualify for this sum of grants.”GAWU called on the Government to take urgent steps to ensure that the grants are received from the EU, and “that this sum is paid over and immediately in full to GuySuCo for use in the sugar industry”.GAWU, which is the sugar industry’s largest union, said that the Government, although quite recent, should not be totally at sea on the question or of the industry’s challenges.“GAWU wishes to emphasise that thousands of workers in the sugar industry and their families’ livelihoods are threatened. Delay in providing assistance and hesitation to pursue the EU money, in the current situation, would be unforgiveable.”GuySuCo, because of its financial situation,Brad Richards Red Wings Jersey, reportedly owes hundreds of millions to union, the Guyana Revenue Authority, the National Insurance Scheme, suppliers, private cane farmers and to local and international banks.