After several requests for financing from government to meet its payroll obligations, Cabinet on Friday sanctioned a disbursement of $600M from the National Industrial and Commercial Investments Limited (NICIL) to the Guyana Sugar Corporation (GuySuCo), Agriculture Minister Zulfikar Mustapha says.
Mustapha last night told Stabroek News that the $600M will be sourced from the $30B bond that had been secured for the industry by NICIL.
According to the Minister, GuySuCo’s management had requested the sum which they said would cover their payroll for the remainder of the 2020 fiscal year.