A sum of $13.3 billion has been allocated to ‘rekindle hope’ in Guyana’s sugar industry, Senior Minister in the Office of The President with Responsibility for Finance, Dr. Ashni Singh revealed during his presentation of the country’s fiscal package for 2025, on Friday.

The Senior Minister’s announcement was followed by a roar of heckles from the parliamentary opposition, however, he reminded them that it was the APNU+AFC administration’s politically motivated destruction’ that lead to the downfall of the sugar industry.

“I will say this with all the clarity that I can muster, the APNU +AFC politically motivated destruction of the sugar industry saw the closure of three-grinding sugar estates,” Dr. Singh said.

This, he contended, saw the displacement and instant impoverishing of 7,000 direct employees and their families.
According to him, the previous coalition administration had abandoned just about $2.5 billion in standing cane.

“This devastated the socio-economic fabric of the dependent communities,” he added.
Since assuming office in 2020, the government had begun to revolutionise the sugar industry reopening several grinding estates, rehiring over 4,600 sugar works, mechanising field operations and upgrading factory operations.

This year’s allocation will see the government continuing works to convert some 3,000 acres of land supporting mechanisation, key investments will also be made to acquire critical equipment and construct 17 kilometres of all-weather road, Dr. Singh said.