GCCI wants sugar, rice industries to be independent

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Rice[www.inewsguyana.com] – The Georgetown Chamber of Commerce and Industry (GCCI) has noted its concern over the continued government subventions being offered to the rice and sugar industries in Guyana.

The APNU+AFC government in its maiden budget allocated a combined total of $35B to both of the sectors with rice having $23B and the sugar industry benefitting from a $12B subvention.

Over the years, both industries benefitted from hefty government subventions.

“It would be indeed unfortunate if the nation is faced with continuing to provide subventions of this size. The need to decide whether or not GUYSUCO can operate under an economic model that can contribute to the national economy is paramount,” a release from the private sector Body stated.

It also noted that “this concern also pertains to the rice industry in terms of its ability to compete pricewise on the international markets. The Chamber would also urge that a review of the functions and overall effectiveness of the GRDB (Guyana Rice Development Board) should be part of the support given to the industry. We can ill afford to run the risk of subsidizing rice as well.”

Referring to other provisions in the 2015 Budget, GCCI says that it provides the clearest picture of the administration’s intentions. It was noted that while the government has committed to the enacting legislation for e-commerce/e-transactions, the recognition of electronic signatures for document certification and data protections, there is need for a definitive commitment on the modernization of intellectual legislation.

“We must comment however that at $G221 billion, this is a fairly large budget, especially when one considers that there are only about four and a half months left in the year. The Chamber is hopes that therefore that all agencies understand that there must be an agile procurement and project implementation process to ensure that these funds are spent effectively,” the release noted.

 

5 COMMENTS

  1. The Champagne drinkers in grey or blue suits located in Goergetown sitting in air conditioned offices have no understanding of rice cultivation and the thousands employed in the industry. Historically, the rice was dominated by peasant rice farmers who owned from five to may be ten acres. A significant number owned less. Only in recent times especially since 1992, rice production soared year after year through the hard work by the multitude of rice farmers using modern machinery and scientific methods of production That industry has always been in private hands and it is surprising that these GCCI members who never felt the mud beneath their feet or between their toes want to give advice. Leave the rice farmers to do what they know best.

  2. I SAW NOTHING IN THE BUDGET THAT SAYS THE GOVT. GAVE RICE ” A SUBVENTION” OF 23 BILLION. , DO THESE GUYS,LIVING IN THEIR IVORY TOWERS, NOT KNOW THAT THE GOVERNMENT HAS BEEN COLLECTING BILLIONS IN EXPORT COMMISSION FROM THR RICE INDUSTRY EVERY YEAR?

  3. joey the Canadian dollar sucks right now what can I say, voodoo where do you people come up with these WORDS to describe the present government? just asking maybe you should be running the Guyana government….think about doing so Soupie!!!

  4. A few day ago you were saying the rice industry in not in jeopardy. Now what you trying to tell the rice farmers?

  5. Finally someone is looking at the most recent budget that the Government recently submitted to the parliament. Well it is obvious that for the ordinary citizen they would not fully understand the economic disaster the lies ahead with the Government spending more than what they are getting in revenue – I guess we will have to revert to using monopoly currency where the Guyana dollar will have very little value. This will happen very soon and then reality will step in when we see the impact on cost of living. The government seems to believe in practicing “Vodoo” economics. Wake up folks and smell the coffee – we are in for some rough times ahead. The worse is yet to come.

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