‘Tens of billions wasted on GuySuCo in last few years - Low

‘Tens of billions wasted on GuySuCo in last few years – Low

Dec 29, 2025 News

– urges govt. to mobilise entity to fill construction demands

(Kaieteur News) – Local economist, Elson Low said the wasted tens of billions of dollars pumped into the ailing Guyana Sugar Corporation (GuySuCo) over the last few years by the PPP/C government, could have instead been used to meet the construction demands of the entity.

Speaking to Kaieteur News on Sunday, Low said the fact that the government cannot effectively manage an industry that has thousands of skilled workers that are in high demand, is a clear example of the limitations it possesses.

‘Tens of billions wasted on GuySuCo in last few years - Low

Economist, Elson Low

“This latest admission that the government will move away from direct investment into the industry, after tens of billions were expended investing only these past few years, makes it clear those investments were wasted. Rather than recognising the demands of the changing labor market and reforming GuySuCo to capitalise on this, the focus remains only on sugar,” he stressed.

The economist pointed to the Guyana Skilled Labour Assessment Study, which was published last year, which highlighted that thousands of truck drivers and construction workers would be needed within the next few years as the economy continues to expand. He said that study echoed previous studies as well as researches he carried out, pointing out that for every oil and gas worker employed spinoff industries would generate employment.

“The oil and gas boom in Texas, which has led that state’s economy to expand sharply, is a perfect example for the government to draw from. GuySuCo, as the largest hub of skilled workers, was perfectly positioned to fill this gap through diversification into sectors such as transportation and logistics and construction. If the government had invested in construction equipment not only would GuySuCo workers be better paid, the state would see a financial return,” Low added.

He said recently, some of the lowest production totals in sugar were being recorded, highlighting the possibility that the government will gradually phase GuySuCo out of existence and its workers will be abandoned in this process of a privatisation push.

Hence, he advises, “Instead, a renewed focus on meeting the labor demands of the economy, with investments in trucking and construction equipment, as well as training for workers, should be the priority for the corporation. If the government wants to build tens of thousands of homes, as an example, mobilise GuySuCo to aid that national mission.”

Last week, Vice President Bharrat Jagdeo maintained that the sugar industry in Guyana has the potential to be profitable, but made it clear that the government does not want to invest in it.

Jagdeo was asked about the joint venture between GAICO Construction and General Services Inc. and US-based Sucro Limited to construct a white sugar refinery for the Guyana Sugar Corporation (GuySuCo).

He was asked why not have “an intermediary private sector firm be part of that arrangement.”

Jagdeo said the government was hoping to get the private sector to invest in sugar. “We believe there is a lot of potential still in sugar to make money. The government doesn’t want to do the investment. It’s a simple thing. You have a proposal now you’re happy about the proposal, and they will do it,” he said.

Reasoning that the government wants more private sector consortia involvement, Jagdeo referenced “…the other Guyanese consortium that is building the shore thing at Vreed-en-Hoop.”

“These Guyanese firms, that’s what we want to step up. The president made it clear we are working for our people, Guyanese private sector, Guyanese families across the country, wherever they live, that’s why we’re elected” Jagdeo stated.

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billions wasted, Economist, Elson Low, GUYSUCO

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