Internet Radio

PPP shuts down recommendation to ‘break-up’ GuySuCo

58beec39bff4051c188cfa24e1a39044Opposition Leader Bharrat Jagdeo says that the People’s Progressive Party (PPP) will “vigorously oppose” any plans or recommendations dismantle the Guyana Sugar Corporation (GuySuCo).

According to Jagdeo, the PPP will “vigorously oppose any plan to dismantle GuySuCo, adding that “the country will not suffer because of political decisions in the economic sphere.”

The former President was at the time speaking at a press conference on Thursday when he noted that the Opposition will push for a full fledged debate on the Commission of Inquiry report that was submitted to the House on December 30.

“These matter need to be approached very carefully…containing costs for them means that sugar workers should not receive any increase…we will never accept cost constraints which will penalize workers in this manner,” said Jagdeo.

He also made it clear that he will not support privatizing the industry as recommended by the report.

“If we transfer GuySuCo into private hands and after one year they shut down – then what happens,” he questioned.

Under the chairmanship of Vibert Parvatan, the Commission urged government to announce in the 2016 budget that it should “publicly announce that it will do everything in its power to remove itself from the production of bulk sugar for export as soon as is practical” after studying the pros and cons.

If government decides to go that route, the Commission further recommended that government should announce the formal creation of a Holding Company to hold the shares of subsidiaries/business units and other revenue streams created out of Guysuco’s operations.

They can be electricity co-generation, supply of drainage and irrigation to communities, supply of business services such as Information Technology, tourism and recreation; prime real estate and property holdings (selected Guysuco premium real estate), agricultural equipment pools including aircraft for rental to farmers, sugar refinery to produce plantation whites or refined sugar, molasses, alcohol, ethanol and special sugars.

  • Pedro

    How can Jagdegone say, and I quote, “the country will not suffer, because of political decisions in the economic sphere”- end quote.I am so sorry that he has become dotish , so young.The master of political interferance in the economic sphere has been, Dotish Jagdegone, the Cabal , the PooPyParty and GAWU::in that exact order.They ruined, GUYSUCO, and left its workers with nothing for them and their families, in the future. Then they set about ruining the Guyana’ economy, which they came very close to doing. The people of Guyana must never , forgive and forget, these serious transgretions againt us , all the people of Guyana..

  • Emile_Mervin

    Jagdeo is a lopsided thinker because he is, well, lopsided. Here he is expressing concern that if GuySuCo is privatized and then shut down one year later that sugar workers would be adversely affected.

    It is ironic he did not apply the same measure of concern when the PPP privatized the bauxite industry and many bauxite workers were laid off. But he should take comfort in the fact that should GuySuCo be privatized, then sugar workers could be offered a buy-out or a severance package just like bauxite workers. What’s good for the goose…

    Or maybe he can push for sugar workers to be part owners in a privatized sugar industry. Actually, I remember Winston Brassington responding by letter to a suggestion I made at the height of bauxite privatization talks for bauxite workers to use their massive pension scheme to buy into any privatization plan. He said absolutely not!

    Bottom line is that sugar, like bauxite, has fallen on hard times and the coalition government has to make the tough call on what is in the best interest of the nation on sugar just as the PPP regime made the tough call on bauxite. NO SACRED COWS WHEN THE COWS ARE SEEKING TO DRINK MILK INSTEAD OF PRODUCE MILK.