GuySuCo seeking in excess of $30B from sale of land – CEO

…as company makes $300M payout

By Gary Eleazar
The Guyana Sugar Corporation (GuySuCo) after failing to meet its stipulated pay date, did not renege on its subsequent commitment, and yesterday handed out some $300M to its workers and critical labour contractors.
This is according to the Corporation’s Chief Executive Officer, Errol Hanoman, who explained that the critical labour contractors include persons contracted to transport workers among others.
As it relates to the persons who have been describing the company as being on the brink of bankruptcy, Hanoman said that it is inappropriate, given the role of the company with respect to the national economy.
He stated that it is well known that the company has been having some financial setbacks, but he insisted that it had no problems receiving loans from any banks.
The Corporation’s CEO emphasised that there must be a balance between borrowing and resources.
As such, he stressed the importance of selling the Diamond lands which he said should rake in more than $30B and is of utmost importance to the company’s turnaround plan.
Pointing out that how exactly the land will be disposed of has not been finalised, Hanoman said that it is a decision that will have to be taken by the board in conjunction with the shareholders.
He said that the company would have to be proactive and not reactive, given that there is imminent urbanisation of the locale.
On Thursday last, President of the Guyana Agricultural & General Workers’ Union (GAWU), Komal Chand, related to this newspaper in an invited comment that he was informed by GuySuCo that the company was experiencing cash flow problems and as such could not pay its workers at that time.

Yep...that Bank of Baroda. The Indian government should take a look into this bank and its connections to the PPP oligarchy. 

As a professor in econ who understand how Finance ministries, banks and Govts work, I'm surprised you would make such a statement.  India is very very strict with flow of funds in and out of the banking system.  Several branches of Govt are involved, including the independent tax authority and the anti-terrorism agencies.  Even the Gandhis and senior ministers are scrutinized.

TK, you are a sensible guy, you need to remove the blinders of hatred and think logically and rationally....like basemen does.

 India is very very strict with flow of funds in and out of the banking system.  Several branches of Govt are involved, including the independent tax authority and the anti-terrorism agencies.  Even the Gandhis and senior ministers are scrutinized.

TK, . . . you need to . . . think logically and rationally....like basemen does.

Yep...that Bank of Baroda. The Indian government should take a look into this bank and its connections to the PPP oligarchy. 

OH OH,nehru drunk again,you right bai its christmas

Baseman the more you write the more you expose your stupidity and idiocy.  India is rife with corruption.  Only someone blinded by race will not see it.

Baseman the Ideological racist thinks  logically indieologically and rationally racially.

Rather that spewing shyte from your mouth, why don't you leave it for TK to address.  TK understands very well the banking controls and the international and domestic oversight which comes with being a trans-national bank.

Spewing shite is your forte.  Is that the best you got?  You are a legend in your mind.  Simply put you don't know what you don't know.