Shut down the sugar industry in five years

Jan 06, 2024 Letters

Dear Editor,

Having read BLUNT OF THE DAY (Jagdeo Monument: The Skeldon Sugar Factory) on 5^th January 2024 (KN Online Website) which highlighted that the US$187m Skeldon Sugar Factory failed and as such the sugar industry has also failed, I am not in support of shutting down the sugar industry right away.

This is because in a country of high unemployment and high poverty, I am not in support of making more people unemployed and pushing them into poverty.

As an aside thought, the success of the industry would depend on increasing productivity coupled with high prices for the world market price of sugar. At the moment the world market price of sugar is about US$0.20 per pound. It used to be US$0.12 per pound but increased to US$0.26 per pound in 2023 until falling back to the current price.

Unless the PPP/C Government can get more for Guyana’s sugar to at least break even, this industry will continue to be a drain on the TREASURY (taxpayers).

We should give serious consideration of shutting down the industry in five years time. This will give sugar workers the time to find alternative employment. I am aware that in some of these communities there is no alternative employment for these workers. For these workers maybe land can be given/leased to do farming? Or, maybe training to update their skills so that they can find alternative employment or start businesses?

Why have we never pursued getting our US$187m back from the company that built the flawed Skeldon Sugar Factory?

Latest News