The Editor, Sir:

Revisiting the issue of an ailing sugar industry, it is without malice that I wish to call public attention to its inevitable divestment at the end of this month.

Benefits from the boom in ethanol production and our own preferential access to the U.S. energy markets are yet to be realised, as virtually none of this fuel substitute is presently derived from locally grown sugar cane, even after receiving foreign 'technical assistance' to establish ethanol plants locally in recent times.

The submissions of bids by five entities toward the acquisition of the assets of the Sugar Company of Jamaica carry great implications. The winning bid will, in essence, decide the fate of our last remaining traditional agro industry and the greater part of our arable terrain, but, probably more importantly, the fate of thousands of rural Jamaicans, a great many of whom are already close to economic marginalisation.

Profitability

Whether local or foreign-based, the new owners will have profitability as their bottom line, so all well-thinking Jamaicans would wish them success in turning the economic tide of this vast industry, while the funds derived from sale of these assets could be employed in other areas of development.

We would hope that the 'powers that be' carefully consider the motive of each bidder. Multinational business is seldom philanthropic, as we discovered with the divestment of our local rice industry some time ago. Foreign-based ownership of companies, undoubtedly, delivers technical expertise and financing, leading to global competitiveness and market access. However, let us not be so naive as to believe that all offers are entirely noble. Competition in the global context sometimes requires the acquisition and elimination of potential competitors.

Please, let us beware of Greeks bearing gifts.

I am, etc.,

ANDRE RANA

Spanish Town

aundraerana@yahoo.com

Via Go-Jamaica