Sugar Transformation Project gets $857 Million

In order to achieve an effective transition to a sustainable sugar cane industry, the government has set aside $857.6 million for the Sugar Transformation Project in the 2010/11 Estimates of Expenditure, which is now before the House of Representatives.

As stated in the Estimates, the project aims to develop a sustainable private sector- led sugar cane industry by 2015; strengthen the economic diversification, social resilience and environmental sustainability of sugar dependent areas; and maintain progress towards macro-economic goals.

Some achievements up to February 2010 included: a fully staffed and operational Sugar Transformation Unit; redundancy payments made to approximately 3,600 displaced Sugar Company of Jamaica employees; two of five government-owned sugar estates divested; over 300 vulnerable Sugar Company of Jamaica employees receive grant assistance under the Sugar Area Development Programme; and seven studies related to the implementation of the Government of Jamaica's Sugar Adaptation Strategy.

Anticipated targets for the 2010/11 fiscal year include: increased capitalisation of the Cane Expansion Fund administered by the Sugar Industry Authority; registration of 1,000 small farmers for the Sugar Area Development Programme; implementation (roll-out) of 2,500 in kind grants to vulnerable displaced Sugar Company of Jamaica employees; and privatisation of the remaining three Government of Jamaica sugar estates by the end of the 2010/11 financial year.

This project is being funded by the Government of Jamaica and the European Union.

source: jis.gov.jm