HGP Nightly News – According to APNU, the Guyana Sugar Corporation owes the National Insurance Scheme approximately $2 billion. That’s money meant for workers’ pensions, for retirement security, for the social safety net that thousands of Guyanese depend on. Instead, it sits on GuySuCo’s books as unpaid debt.
This year, the government is giving GuySuCo an $8.4 billion subsidy. APNU Member of Parliament Sherod Duncan flagged this striking contradiction during a February 27 press conference, using it as a prime example of what he calls weak financial oversight in the 2026 Budget.
“Billions owed to NIS, billions more handed over,” Duncan said. “At what point do we ask whether the money is actually reaching the people it’s meant to serve?”
The numbers demand attention. A $2 billion debt to the scheme that pays pensions. An $8.4 billion injection from taxpayers. The corporation continues to operate at a loss, continues to receive massive subsidies, and continues to owe money that directly impacts workers’ future security.
For the opposition, the question is simple: if GuySuCo cannot pay its debts to institutions that serve ordinary Guyanese, why is it receiving billions more without a clear plan for turnaround?
The Ministry of Agriculture has previously outlined a five-year strategic plan aimed at returning the corporation to profitability by 2030. Mechanisation efforts are underway. Land previously idle is being replanted. Production figures have shown some improvement.
The opposition is now calling for greater transparency around how the $8.4 billion subsidy will be used and what specific measures are being taken to address the long-standing debt to the National Insurance Scheme.
