Gov’t wants to “get it right” before GuySuCo assets are sold – Min. Harmon

– Wants to avoid allegations of price gouging, favouritism

– Will be the largest transfer of state lands in Guyana’s history

DPI, Guyana, Friday, July 20, 2018

The government is in receipt of over seventy-one expressions of interest for the Guyana Sugar Corporation (GuySuCo) estates and assets currently being evaluated by PricewaterhouseCoopers.

State Minister, Joseph Harmon, who made the disclosure today, reminded that this will be one of the largest transfer of land in the country’s history from the state to a private company, hence, government is taking steps to ensure the process is transparent and orderly.

“It is an important step in the process to have these evaluations done. In fact, while some companies have made applications and expressed interest, what we are saying is let us get the proper evaluation and know exactly what it is we are doing so that it is not done in a piecemeal manner,” he stated.

The State Minister said government wants to avoid allegations of favouritism and price gouging, among others.

There is the need, however, for the three sugar estates, still in operation, to improve production levels, according to the minister.

He made reference to the fact that the Demerara Distillers Limited (DDL) had to import molasses due to the shortfall in production.

The minister assured that government is looking into the matter. “We need to ensure that these are what you call low hanging fruits that we should take advantage of.”

The government, back in early 2017, had announced that with the rightsizing of the sugar industry, it would keep the estates, Blairmont (on the West Bank Berbice), Albion (Corentyne) and Uitvlugt (on the West Coast of Demerara), opened.

In addition, the State Minister assured that the second tranche of payments to the former sugar workers will be available within the second half of the year.

By: Stacy Carmichael