-Raffik calls for deep water harbour
Opening the 13th Berbice Expo and Trade Fair on Friday, Business Minister Dominic Gaskin said there has to be a transition away from the ailing sugar industry and this will bring new opportunities.
He said that he is aware that the plight of GuySuCo and the sugar industry is of concern in the region. Gaskin told the gathering that the government is very much aware of the role GuySuCo plays within the region and noted that there are many different views about what needs to be done with the sugar corporation. He added that there is a universal recognition that GuySuCo presently places a heavy burden on the Treasury, a burden the country cannot afford.
Gaskin opined that any company whose operating expenses exceed its revenue to the extent that it requires subsidies in the “billions and billions of dollars year after year is in big trouble and needs to be restructured, and cannot be allowed to continue to be a drain”. He added that “Some actions have to be taken to bring an end on this huge annual subsidy”.
