–Dr. Ramsammy
THE names of members of the new Board of Directors of the Guyana Sugar Corporation (GuySuCo) have not been announced, almost two weeks after a promise had been made in this regard.Agriculture Minister, Dr. Leslie Ramsammy told the Guyana Chronicle that the GuySuCo directors have been appointed, but the formal announcement is yet to be made.
He added that the new Directors are currently engaged in orientation meetings with the relevant stakeholders.
Nine individuals had been identified to sit on the Board of Directors some weeks ago. 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 sum of $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.
(Vanessa Narine)