GUYSUCO needs an economist, an engineer and accountant to move forward

Feb 23, 2021 Letters

Dear Editor,

I have watched as GUYSUCO has started to make strides with marketing packaged sugar. This is no doubt a good move, but is it enough to save this broken industry?
GUYSUCO needs a management structure which breeds confidence in the people of Guyana. I am proposing a three-member executive team where each person has equal voting rights when making decisions for the industry. This team should comprise of an Economist (Agriculture Economist), an Engineer and an accountant. These persons should obviously be apolitical and be given the licence to make tough decisions.
GUYSUCO has suffered for far too long from poor decision makers or from segregated decision makers and it is time we make the necessary changes by implementing skilled persons to form the decision-making body.
The Economist will be able to apply basic and more advanced microeconomic policies with the aim of creating an efficient, fair, and growing industry. An Economist is trained specially to address microeconomic concerns of production cost, marginal cost, and marginal benefit as well as how to deal with competition to name a few. It is a known fact that Economic benefit of producing sugar in Guyana is far less than production cost, but the question of allocative efficiency and productive efficiency must be asked. These are questions an Economist will focus on as part of more basic microeconomic policies.
GUYSUCO also needs an engineer with the technical understanding of how sugar is produced. This person must demonstrate an advanced understanding of the production phases and be able to guide the economist, to ensure policies implemented are suitable, necessary, and viable.
The accountant will analyze the financial standing of the company. This will be used by both the Economist and the engineer as a guide for future policies. This three-member team will not fix all the sugar industry’s problems immediately, but it would certainly be a step in the right direction.

Yours truly,
Concerned Joe

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