An idea to help sugar industry
TUESDAY’S DAILY NATION Back Page reported that the proposed new sugar factory is estimated at $500 million. Is this US, Trini or Bajan dollars?
Can we afford yet another loan which has to be paid back? Yesterday’s Midweek Nation reported that some growers was owed so much money they could not start this year’s harvest.
Dr David Estwick reports that apart from the industry being bankrupt, it costs four times as much to produce the sugar we sell to Europe at a quarter of the cost just to get foreign exchange.
Where is the sense in that and why have our leaders continued to allow it? So why spend $500 million on a new factory?
Let’s have some pertinent facts, please.
Let me make a revolutionary suggestion if we are to continue with sugar.
Everywhere you look there are polystyrene food containers littering the place. Food containers elsewhere are already being made of bagasse, which is biodegradable but cost can be a problem.
So through the Small Business Association, get someone to start that business here. It may be a small market but I doubt it.
A small business can control overheads. It should be given duty-free status for any equipment and interest-free loans to start up for a couple of years. We have the bagasse so the cost should be comparable to polystyrene.
If not, put the duty up on polystyrene, help the environment and also provide jobs.
– BRIAN FREDERICK