THE People’s National Movement (PNM) regime led by Patrick Manning is preparing to completely shut down the sugar industry by 2008.

This, as Government prepares to dispose of all assets of the Sugar Manufacturing Company Limited (SMCL).

The Usine Ste. Madeleine sugar factory.

Sugar is now being imported at a cheap price.

“Imported sugar cost 35 percent cheaper than the sugar we produce here. There is no profit producing sugar or any product when you can import it at a cheaper price,” it was revealed.

In an advertisement in a daily newspaper last week, prospective buyers of SMCL’s assets were invited to collect Information Memorandum from PricewaterhouseCoopers Limited’s Port of Spain office.

It advised that the memorandum provides information on the assets of SMCL that will allow prospective buyers to make a determination on the bid for the assets.

Prospective buyers were further advised that bids will only be considered for all assets on an “as is where is” basis and that no assets will be sold individually or separately.

Bids are to be submitted by 3 p.m. on October 23, 2006.

Interested parties are required to sign a confidentially agreement.

Former employees of Caroni 1975 Limited were offered Voluntary Separation of Employment Packages (VSEP) in August 2003.

The SMCL was formed to take over Caroni’s operation at Ste. Madeleine.

SMCL is also in charge of the shipping terminal at Point Lisas and the B.C Sugar House at Couva.

Contractors, who are running SMCL, have employed some of the former Caroni workers.

Workers say they do not know what is happening or where their future in the sugar industry stands.

Efforts to get a comment from Caroni line Minister, Christine Sahadeo were futile.