Although missing its 2025 target, the low producing Guyana Sugar Corporation is set to receive another major financial boost from the Government.
Finance Minister Dr. Ashni Singh, announced today that GuySuCo will receive a further $13.4 Billion this year to continue its work.
Earlier in his budget presentation the Finance Minister noted that despite the challenges facing the sector, it recorded a marginal growth last year when compared to the previous year.
Government budgeted $13.3B for GUYSUCO last year, but spent just over $14B on the industry.
This year, the Finance Minister said Government will be investing heavily to ensure that the sector performs better. Among the investments will be the procurement of three new broilers for the sugar industry.
“To this end, Mr. Speaker, $14.B was spent in the sector in 2025, this year Mr. Speaker, the sum of $13.4B is budgeted to be spent in the sector,” the Finance Minister announced.
The Minister noted that 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 in 2020.
“Over the next five years our objective is to continue operation of field mechanisation through land conversation, improved mechanical planting and harvesting, modernized factories and improved factory operations, provide high yielding cane varieties, investing in value added production including with private sector participation and improving worker, union and management relations, while transitioning workers to higher skilled roles,” the Finance Minister promised.
Ultimately, the Finance Minister said the strategy is to effectively transform and diversify Guysuco into an agro-industrial hub for rural economic development.
In 2026, he said government will set aside 3,000 hectares of land to be converted for mechanical harvesting.
You must be logged in to post a comment Login