By Jomo Paul
[www.inewsguyana.com] – With a Commission of Inquiry undergoing into the Guyana Sugar Company (GuySuCo), the People’s Progressive Party (PPP) does not believe that the sugar company has a future as a State entity under the new APNU+AFC administration.
General Secretary of the PPP, Clement Rohee at a press conference on Monday August 03 alluded to statements purportedly made by the recently appointed GuySuCo Chairman, Dr Clive Thomas.
According to Rohee, the GuySuCo Chairman is quoted as saying “the sugar industry like the rice industry has to be privatized in order for it to function better because it was wrong of the previous administration not to do so.”
Rohee referenced this statement by Thomas and the fact that the principals of one of GuySuCo’s main buyers – Tate & Lyle – recently testified at the on-going commission.
“Steps have already been taken in this direction with the presence in Guyana of Tate and Lyle representatives, the management of Guysuco was once privatized and placed in the hands of Tate and Lyle,” said Rohee.
However, it should be noted that the principals of the company including, Vice President Duncan Tate, Allan Wood and Mac McLachlan recently stated that GuySuCo should look at lowering production costs.
Tate and Lyle officials reflected on their long productive association with Guyana and stated their continued interest in buying Guyana’s sugar.
However, recent developments in Europe have made the sugar market very volatile and that the primary consideration is market price. With the removal of preferential prices which ACP countries like Guyana enjoyed, the developing situation dictates that producers have to be more efficient and that demands disciplined management.
They noted that the price situation will become even more complex for Guyana when the cap on beet sugar production is deregulated.”