Georgetown: Nine individuals have been identified to sit on the Board of Directors of the Guyana Sugar Corporation (GuySuCo), which is expected to be named this week, according to President Donald Ramotar.
And Agriculture Minister, Dr. Leslie Ramsammy, stated that two persons are still to confirm their acceptance to sit on the Board. However, he noted that while the Head of State remains engaged with two individuals, it is expected that these talks will not further delay the naming of the Board.
Ramsammy added that President of the Guyana Agricultural and General Workers Union (GAWU), Komal Chand, has formally rejected the Head of State’s offer to sit on the Board.
The life of the existing board was extended by six months to June 30 and the new Board’s appointment was scheduled to come on stream from July 1. Under new management, GuySuCo is expected to lead accelerated progress to ensure the industry’s turnaround.
The sugar industry is projected to record an improvement of 15.6 percent in output to 215,910 tonnes in 2014, and a whopping $6B has been allocated to the sector in the 2014 Budget, given the industry’s important role in national development.
Among the measures to be undertaken to ensure a turnaround of the industry, which the allocation addresses, are: increased production and lower cost of production; diversified target markets, and expansion of value-added production.
In 2013, sugar exports accounted for 8.3 percent of total exports valued at US$112.2M, and the industry contributed 3.9 percent of the country’s Gross Domestic Product.
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