The Guyana Sugar Corporation (GuySuCo) owes the Sugar Industry Labour Welfare Fund (SILWF) over $2.7 billion and the Fund has not been following good governance practices in some areas and should tighten up its processes, the forensic audit into the Fund has recommended.
Covering the period January 2012 to May 2015, the report made available by the Ministry of Finance outlines a number of areas of concern and makes several recommendations. The SILWF is funded by levies payable by GuySuCo to a special fund which is operated and controlled by the Finance Secretary