Jamaica

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

Do you want to add feedback to this story?

Please add a comment in the e-mail box below or send email to info@thereadersbureau.com

Like our Facebook page https://www.facebook.com/TheReadersBureau

Follow us on Twitter https://twitter.com/readersbureau21