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KINGSTON — The issue of write-offs for some FINSAC debtors, while other requests were ignored, again highlighted Friday’s sitting of the Commission of Enquiry into the 1990s financial sector meltdown and the role of the Financial Sector Adjustment Company (FINSAC) in the recovery. Since his first appearance before the Commission of Enquiry last week, former Minister of Water and Housing,...

KINGSTON — Jamaica will host the 41st Annual Conference of the Caribbean Public Service Association (CPSA) from July 24 to 29, at the Jamaica Conference Centre, downtown, Kingston. Some 159 delegates and participants are expected to attend the conference, which is being organised by the Jamaica Civil Service Association (JCSA) and the Jamaica Association of Local Government Officers (JALGO). President...

KINGSTON — Finance Minister, Hon. Audley Shaw, has underscored the importance of dialogue being maintained through the Partnership for Transformation (PFT), if consensus on decisions regarding the nation’s progress, is to be reached. The Partnership is a coalition of the political directorate, Government, Opposition and private sector interests, who meet for discussions on common measures to address a range of...

WASHINGTON D.C — President and Chief Executive Officer (CEO) of Victoria Mutual Building Society (VMBS), Richard Powell, says increased collaboration between Jamaica and its Diaspora is crucial, if the country is to achieve economic development and growth. Delivering the main address at the 34th annual awards banquet of the National Association of Jamaicans and Supportive Organizations (NAJASO) at the Marriott...

KINGSTON — Former Minister of Water and Housing, Dr. Karl Blythe, has suggested that some of his political colleagues may have benefited from "insider trading", in terms of how their debts were handled during the 1990s financial sector meltdown. Dr. Blythe told the FINSAC Enquiry on Thursday July 21, that there was a need for the Commission to enquire into...

KINGSTON — Minister of Finance, Hon. Audley Shaw, says that a First Supplementary Estimates is to be tabled in the House of Representatives within two months. Speaking at the Jamaica Chamber of Commerce's (JCC) Luncheon Forum, at the Jamaica Pegasus Hotel, New Kingston, on Tuesday July 19, 2011, Mr. Shaw said this has resulted, primarily, from the settlement of the...

KINGSTON — The Jamaica Deposit Insurance Corporation (JDIC) continued on a steady growth path during the 2009/2010 fiscal year, with its Deposit Insurance Fund (DIF) achieving $6.6 billion at the close of the period. This represented a 28 per cent increase, up from $5.1 billion in the previous financial year. As set out in the JDIC's annual report, which was...

KINGSTON — Former Minister of Water and Housing, Dr. Karl Blythe, says that while the National Commercial Bank (NCB) might have been “too big to fail”, after the 1990s meltdown, it should have been offered to the workers and the public, after the removal of the bad debts. “My concern was, having agreed that the National Commercial Bank was too...

KINGSTON — Former People’s National Party (PNP) Member of Parliament and Minister of Water and Housing in the 1990s administration, Dr. Karl Blythe, on Thursday July 14, 2011 urged the FINSAC Enquiry to determine if all FINSAC debtors were treated equally. Dr. Blythe said that the critical point in the Commission’s terms of reference was to determine whether or not...

KINGSTON — A Parliamentary Committee has been set up to review the Government's proposals for tax reform, which are slated to take effect on January 1, 2012. Leader of Government Business in the House, and Minister of Education, Hon. Andrew Holness announced the committee members at yesterday’s sitting of the House of Representatives. Chaired by Finance Minister, Hon. Audley Shaw,...

Attorney for the Jamaican Redevelopment Foundation (JRF), Sandra Minott-Phillips’ late objection to the appearance of former Minister of Water and Housing, Dr. Karl Blythe, at the FINSAC Enquiry on Thursday July 14, 2011, was sternly rejected by the Commission on Tuesday July 12, 2011. Mrs. Minott-Phillips objected on the grounds that the Commissioners had already rejected calling former Prime Minister,...

KINGSTON — The Financial Sector Adjustment Company (FINSAC) says it is awaiting advice from the Attorney General’s Department on how to respond to a new appeal for leniency from former Century National Bank (CNB) boss, Don Crawford. In a statement on Tuesday July 12, 2011, General Manager of FINSAC, Errol Campbell, reiterated that following representations from Mr. Crawford, the matter...