It is now two (2) years since there was a substantial, and we must add clandestine, transfer of sugar assets from GuySuCo to NICIL-SPU. The transfer, we learned, was intended to ensure that a catalog of assets up for divestment would be known and would allow the NICIL-SPU to maintain the assets until the divestment process was concluded. The March 15, 2018 Kaieteur News had reported that“[t]he SPU is banking on re-opening three of the closed estates – Skeldon, Rose Hall and Enmore – to utilize millions of dollars in cane still in the ground”. We recollect too, that Minister of Finance, Winston Jordan in a February 28, 2018 report in the Jamaica Gleaner was quoted, in relation to the estates identified for divestment, to have said “[w]e cannot keep them closed and mothballed, because when the buyers come they would probably not be as impressed as if they were working…”
Those plans have all but been abandoned and NICIL-SPU has begun the disposal of several movable assets. We had learnt earlier this year, that tractors, motorcycles and agricultural implements were sold at what could be deemed basement prices. It was opined that the assets disposed could have obtained far higher prices. Also, there were concerns regarding whether the sale prices resembled the valuation that was carried out. Then, of course, we recall, concerns being raised about the sale of so-called scrap iron from the closed estates. That sale, we understand, brought in a large sum and again it was felt that higher prices could have been obtained. In fact, our Union was made to understand, that one buyer who purchased the ‘scrap iron’ at the Wales factory made a hefty profit from the deal.
Previously, the Government had committed to ensuring the sale of sugar assets was above reproach and was transparent. Former Minister of State, now Director-General of the Ministry of the Presidency, Joseph Harmon, in the July 24, 2018 Kaieteur News is reported as saying with respect to the divestment of sugar assets that “…Government will not sacrifice accountability and transparency in the process”. The reality and the commitment it seems have been divorced. This sell-out of sugar assets came when the GuySuCo is required to use its limited, scarce resources to procure assets for its operations. This is especially disheartening since both NICIL-SPU and the GuySuCo are siblings under the umbrella of the State. It appears that NICIL-SPU has turned a blind eye and deaf ear to these concerns especially when it had said in the past that it has a vested interest in the success of the GuySuCo. Undoubtedly, and again, actions vary from utterances.
