Latest update April 19th, 2024 12:59 AM
Jan 21, 2010 News
Government says that some $4B allocated to the Ministry of Housing will help to purchase lands from the Guyana Sugar Corporation (GuySuCo) for house lots.
The monies will be used by GuySuCo to bring new and unused cane lands on the East Coast of Demerara and in Berbice to cane cultivation, Minister of Agriculture, Robert Persaud, said yesterday.
The Minister made the disclosure during an inspection visit to the Enmore Sugar Packaging Plant.
Currently, the Ministry of Housing is in talks with GuySuCo to identify the land earmarked for house lots and substantial progress has already been made in this regard, Persaud said.
The Housing Ministry had said that it will be providing 17,000 new house lots from this year.
With GuySuCo intent on mobilizing its operations mainly in the East Demerara and Berbice, the reality is that it is not viable to continue planting and transporting cane to the East Coast of Demerara.
With GuySuCo requiring an urgent $10B to carry out capital works which included bringing new cane lands under cultivation, the Corporation was forced to shelve many of its plans after finding itself in severe financial troubles last year.
It was unable to meet wages and was forced delay loan and other payments.
In recent times, in addition to the $4B, Government had to assist an additional $1.4B to the ailing industry as low production, strikes and a price cut from Europe took its toll last year.
Over recent years, Government says that it plugged around $40B to the sugar industry.
Where is the BETTER MANAGEMENT/RENEGOTIATION OF THE OIL CONTRACTS you promised Jagdeo?
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