November 26, 2014


Kingston, Jamaica:


In the aftermath of the recent resignation of three additional NHT board members in order to give the Prime Minister a free hand to appoint a new board, the Jamaica Chamber of Commerce (JCC), Jamaica Manufacturers’ Association (JMA) and the Private Sector Organisation of Jamaica (PSOJ), are deeply disappointed that the opportunity has been missed to restore public confidence in this critical national institution, by wiping the slate clean and appointing a new NHT Board.

The groups remain extremely concerned over their view that the NHT has erred in its decision to purchase the Outameni property for J$180 million, and the fact that public concerns about this issue continue to distract the nation from focusing on other critical economic and social issues. The groups also fear that governance concerns could negatively affect investor confidence in the wider economic reform being undertaken by the Government.

The JCC, JMA, and the PSOJ are also very disturbed by a most unbelievable statement made in a press conference on Monday by the Chairman of the NHT, Mr. Easton Douglas, when he stated that in “thirty eight years of the operations of the National Housing Trust, on no occasion has the trust ever advised the Minister about the sale or purchase, or any transaction”.