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KINGSTON — Former receiver for Thermo-Plastics Jamaica, Richard Downer, told the FINSAC Commission of Enquiry Tuesday (May 31) that he could not confirm if there was political interference in the disposal of the assets, as well as those of sister company Plas Pak Limited, after the 1990s financial sector meltdown. “It was a matter of opinion,” Mr. Downer told the...

KINGSTON — The Financial Sector Adjustment Company (FINSAC) Commission of Enquiry says it will reconsider a request to subpoena former Prime Minister, Most Hon P.J. Patterson, but has concluded that it will call former Cabinet Minister, Dr. Karl Blythe. Chairman of the Commission, Worrick Bogle, said Tuesday (May 31), that a letter will be sent to Dr. Blythe this week,...

KINGSTON — The Students Loan Bureau (SLB), in an effort to collect some $1 billion owed by delinquent borrowers, has extended its initial three month amnesty, which came to an end yesterday May 31 to August 31.  The additional three-month respite is being offered to SLB beneficiaries whose loans have matured, as well as those whose loans, though not matured,...

KINGSTON — Former PricewaterhouseCoopers (PwC) partner, Richard Downer, Monday (May 30) denied involvement in “secret profits” or fraud, while operating as receiver for the defunct Thermo-Plastics Jamaica companies, during the 1990s financial meltdown. “I deny that I received, or retained, any secret profits and commissions or committed any fraud in these receivership,” Mr. Downer told the FINSAC Commission of Enquiry,...

MANDEVILLE — Minister of State in the Ministry of Finance and the Public Service, Senator Arthur Williams, says Jamaica's credit unions have opened doors for many persons who would otherwise have been ineligible to access funds from the financial sector. “Many people would not have been able to afford homes, start businesses, get tertiary education or even attempt saving, without...

KINGSTON — A progress report on the Jamaica Development Infrastructure Programme (JDIP) is now available on the website of the National Works Agency (NWA) at: www.nwa.gov.jm. The report was posted on Tuesday, May 24. In an interview with JIS News, NWA Communications and Customer Service Manager, Stephen Shaw said the report provides details on all aspects of the JDIP up...

A Policy Logistics Unit has been established at the Planning Institute of Jamaica (PIOJ),  to monitor, problem-solve and harmonise the government’s plans to implement and adopt elements of the growth inducement strategy across Ministries and agencies. Director General of the PIOJ, Dr. Gladstone Hutchinson made the announcement at the Institute’s quarterly press briefing on May 20. “We have re-assigned, at...

Programme Manager of the Planning Institute of Jamaica’s (PIOJ) Plan Development Unit, Richard Lumsden, has reported significant gains in five key areas pivotal to the success of the National Development Plan, Vision 2030. He cited education status, labour force quality, national security, justice and economic growth as the key areas, and noted that for January to March 2011, progress had...

KINGSTON — Preliminary data on the performance of the Jamaican economy for the January to March 2011 quarter, indicate real growth of 1.5 per cent, says Director General of the Planning Institute of Jamaica (PIOJ), Dr. Gladstone Hutchinson. Speaking at the PIOJ’s quarterly press briefing at the institute’s Oxford Road office on Friday (May 20), Dr. Hutchinson said he anticipates...

KINGSTON — Director of the Planning Institute of Jamaica (PIOJ), Dr. Gladstone Hutchinson, is projecting a one to two per cent growth in the Jamaican economy for the current April to June quarter. According to Dr. Hutchinson, the PIOJ is also forecasting a similar one to two per cent improvement in the economy for both the 2011 calendar year and...

KINGSTON — Minister of Finance and the Public Service, Hon. Audley Shaw, used the occasion of the Bank of Jamaica's (BoJ) 50th anniversary banquet on Thursday May 19 to bat for a more independent central bank.    Addressing the gala affair, held at the bank’s Nethersole Place headquarters downtown Kingston, the Minister expressed the Government’s commitment to the BoJ becoming autonomous,...

KINGSTON — Minister of Finance and the Public Service, Hon. Audley Shaw, says that Government has embarked on a new frontier of fiscal responsibility and transparency, with legislation and guidelines before Parliament to ensure prudence in financial management and hold leadership accountable. “We have put forth in Parliament, fiscal responsibility legislation (and) we have a revised procurement handbook that has...