Sugar is a tiny industry where we're not competitive anymore. Now, if sugar barons want to invest their money in it they're free to do it but Government shouldn't bail them out with our money or depreciate our rupee to help them.
The fact that they may have invested a lot of money in it doesn't matter at all. That only tells us the size of their stupid bet.
3 comments:
Ayo, couma koze depreciation, couma-dire l'oderr-la attire bann tang:
http://www.lexpress.mu/news/281-interview-jean-noel-humbert-les-benefices-generes-par-le-sucre-raffine-se-volatilisent-avec-la-roupie-forte.html
Too big to fail. Remember? That was the argument used by Corporate America to hijack public funds. Sithanen tried to follow suit by voting huge amounts in recue funds. Now that he is no more here Corporate Mauritius is looking for new ways to stay afloat.
Did they not receive enough benefits from the government?
I think everyone want a slice of the famous Stimulus Package now.
Come on, if we have people who do not know how to manage their business, they should just quit.
I think the Mauritian government has this attitude of try to please everyone(private sector) and bail them out everytime.
Heck, if this was another country, these sugar companies would have been converted to something more productive.
Anyway, can the sugar barons really tell us, how their cost of producing sugar is actually higher than the price at which sugar is sold on the world market!
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