Synopsis of Guyana Sugar Industry.
The industry was Nationalized in the mid 70's , and named GUYSUCO , production went downhill up to 1985. When Desmond Hoyte became President , the Economic Recovery Program was the guideline to uplift the country from the economic woes,all State Owned Enterprises should be Privatized.From low levels of production in 1985, tons of sugar was increase to 243,010 in 1992 , there was a 52.% increase from 1991 production of 159,690 tons [Source ,GUYSUCO 1992 Report]. The same year free and fair elections was held on October, 5 . The PPP/C won the elections ,privatization of GUYSUCO was halted , the rest is history , currently the industry is in a begging mode.