Lee-Chin — Government Paying Lip Service To Divestment

Michael Lee-Chin, Chairman of the Economic Growth Council, (EGC) is unhappy with the government slow approach to divesting its under-performing assets.

He said the reluctance is causing lower than expected economic growth.

The EGC was set up to advise the government on a framework of proposed initiatives along with sub-initiatives that are expected to yield five percent growth by 2020.

The Jamaican economy grew year-on-year 1.5% in 2018. Growth is expected to accelerate to an average of 2% over the medium-term. 

The EGC has recommended that the Factories Corporation of Jamaica and Urban Development Corporation divest $30 billion worth of assets.

But Mr. Lee-Chin lamented that he has only been getting excuses from the government.

Carol May, Readers Bureau, Fellow

Edited by Jesus Chan

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