A $4B allocation for GuySuCo in this year’s budget will go towards the operational expenses of the entity and a national action committee has been set up to monitor the ailing sugar industry.
Minister of Agriculture Dr Leslie Ramsammy, while being grilled by members of the Committee of Supply during the consideration of the estimates of expenditure for 2012, said yesterday that the corporation has forecast a deficit this year. He said that a national action committee, which was set up through the Finance Ministry and which will be overseen by Cabinet, will be monitoring the industry and its operations. He did not identify the members of this committee. A new board also has to be sworn in.
As regards the $4B figure, Ramsammy stated that, “it is not earmarked for a specific expenditure but will be part of the pool of resources of GuySuCo to meet its operational expenses.” While being