-after mismanagement by the previous administration, on track to be financially sufficient
The Ministry of Natural Resources’ Guyana Forestry Commission (GFC) will commence payment of the 2018 Bonus due to staff by the previous administration. This is a direct result of a commitment by Natural Resources Minister, Hon. Vickram Bharrat during his first engagement as Minister with management and staff of the Commission.
Over the past four years, the Guyana Forestry Commission under the previous administration became bankrupt and unable to pay basic salaries and other operational expenses. This was further complicated by poor decisions of the previous Board of Directors which placed additional financial burdens on the administrative and management operations of the Commission. It must be noted that the mismanagement did not only affect staff of the GFC, but resulted in the rapid deterioration of logging roads which were maintained by large scale investors who exited the industry due to bad policies under the previous administration.
Further, with the oversight of the Natural Resources Minister and the management team of the GFC, efforts are being made for the Commission to become financially viable and self-sustaining in the short, medium and long term. As such, the Commission’s short-term strategy to increase revenue and minimize expenditure is proving successful at improving its financial status and making the GFC once again self- sustaining.