In order to further improve sugar production and enhance the operational efficiency of the Guyana Sugar Corporation (GuySuCo), the government has allotted some $6 billion for the entity.
This was announced by Finance Minister Dr Ashni Singh during his presentation of budget 2024.
Dr Singh reflected on the devastation of the sugar industry under the previous APNU+AFC administration and spoke of the efforts undertaken by the Dr Irfaan Ali-led government to revive the sector from 2020 to now.
To date, he revealed that over 4000 workers have been rehired and the Rose Hall Estate, which was shut down under the APNU+AFC government, has since reopened.
In Budget 2023, GuySuCo had gotten a $4 billion subsidy.
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