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GuySuCo privatization offers no assurance
Dear Editor,
Region 6 RDC Councillor, Mr Haseef Yusuf, in letters appearing in the April 4, Guyana Times and Kaieteur News titled “Save GuySuCo another $45B” and “Halt the trial and error approach to GuySuCo” respectively contended that the entire GuySuCo should be privatised.
While GAWU agrees that Mr Yusuf is entitled to his view, like any other person, we, at the same time, do not share his viewpoint.
The privatisation of GuySuCo offers the Guyanese people no assurance that the estates would remain operational. We need just to look at what happened in Jamaica when it took a decision a few years ago to privatise its industry.
When that industry was privatised the private investors promised brighter days ahead. But February 1, 2018 Jamaica Observer reported Permanent Secretary in the Agriculture Ministry Donovan Stanberry as saying “the country has not seen the economic benefits of the privatisation of the sugar industry that was anticipated when renewed efforts to divest started in 2005”.
The Jamaican experience is not an isolated situation as the world has seen similar situations playing out. Even in Guyana, the privatisation experience has not been necessarily positive with quite a few of the entities privatised in the latter 1980s and early 1990s having either folded up, or are operating at a smaller scale.
Certainly, one does not get a great deal of confidence that the situation would be any different with respect to the sugar industry. Moreover, when taking account of this Government’s track record regarding transparency, the confidence barometer dips even further.
While we agree and share Mr Yusuf’s view regarding the return on investment regarding the $32B the Government said it injected into GuySuCo, we do not believe we should throw the baby out with the bathwater.
The GAWU has consistently questioned how the massive sum was utilized and up to this point all we have heard is a deafening silence. Regarding the $30B financing secured, we also have several questions and look forward to engaging the SPU about the plan that will guide the huge sum secured.
The sugar industry still remains too important for haphazard decision-making as recent experience has thought us. The industry’s transformation from a sugar to sugar cane industry offers it the best chance for success. Such transformation, we contend, must be guided by a plan grounded in reality and implemented by knowledgeable personnel with the involvement of the workers and their representative organisations.
Yours faithfully,
Seepaul Narine
General Secretary
GAWU
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