The Government of Guyana's request for an additional $3.4 billion for the Guyana Sugar Corporation (GuySuCo) was approved by the National Assembly on Monday.
This comes less than than six months after the government successfully provided more than $6 billion in the national budget for cash strapped Guyana Sugar Corporation (GuySuCo).
Agriculture Minister Zulficar Mustapha said he is confident that the fortunes of the sugar industry could be improved, as he defended the supplementary funding to GuySuCo.
He said the additional capital can ultimately bring production costs down and that the Irfaan Ali government will be continue its recapitalisation push at GuySuCo with the additional money.
The funds will also be used for the reopening of the Rose Hall estate that Mustapha described as a priority for the government.
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