
Although it recorded a dismal performance that saw the worst year in sugar production last year, the Government is pushing ahead with its plans to revitalize the problem plagued industry with an allocation in this year’s budget of $13.3 Billion for the Guyana Sugar Corporation.
The allocation is more than double last year’s allocation of $6 Billion and the Finance Minister said the allocation will support Guysuco’s field and factory operations.
“In 2025 that work will continue, an additional 3,000 hectares of land will be converted to further support mechanization. Key investments will also be made to acquire additional field equipment, rehabilitate field infrastructure and construct over 17 kilometres of all-weather roads across the industry. To this end, $13.3B is budgeted to continue to support and rehabilitate the sugar industry,” the Finance Minister announced.
In addition to the $6 Billion allocated last year, GuySuCo received more than$9B in supplementary funding, which the Government said supported the acquisition of land, the hiring of more workers and factory and field operations.
The total support for the sugar industry last year exceeded $15 Billion.
Although the Government was able to re-open the Rose Hall Estate, which recommenced operations in 2023, the Finance Minister announced that just over 47 tonnes of sugar was produced last year.
However, he said the continued investments in the sugar industry will be undertaken with the ultimate objective of ensuring that each estate is able to be back up and running in the future. He said billions have already been expended to fields and factories to have them working again. He sought to blame many of the problems facing the industry on the former Government that left office just over four years ago after one term.
You must be logged in to post a comment Login