Govt. will have to make “politically painful” decision on sugar soon – Former Finance Minister

(Kaieteur News) – Former Minister of Finance under the APNU+AFC Government, Winston Jordan, has said the PPP Government may eventually have to make the “politically painful” decision to close the sugar industry, as billions of dollars are being poured into an industry that remains uncompetitive, producing little in return.

Speaking during an interview on Sources on Sunday, Jordan said sugar has survived mainly because of subsidies and favourable international prices, particularly the prices Guyana once received from the European market.

“At this stage, when they are not competitive, neither sugar nor rice has ever been competitive without a secured international market or high prices,” Jordan told the host.