PSOJ Said It Is Not Endorsing Any Party

News post September 23, 2015

William Mahfood, president of the Private Sector Organisation of Jamaica (PSOJ), said on Monday that his organisation was not endorsing any political party to form the Government after the next general election, insisting that its primary interest was in ensuring that the economic reform programme did not fall victim of political considerations.

“It is not that we are coming out to say we are in support of this administration as much as it is that we are trying to reinforce the need for continued discipline on the fiscal management of the country’s economic indicators,” Mahfood told The GleanerMonday.

Hours earlier, the PSOJ released a statement saying that it was seeing signs of improvement in the economy and fiscal accounts, as a result of the current economic and fiscal reform programme. The statement was released a day after the governing People’s National Party (PNP) held its 77th annual conference at the National Arena.

“In light of the upcoming election, evidenced by the increased political atmosphere, the PSOJ would like to stress to everyone that Jamaicans have made too many sacrifices over the past two years to see these gains reversed by frivolous expenditure, as we have seen happen in past elections,” the PSOJ said.

Jamaica has so far passed nine quarterly reviews under the Extended Fund Facility (EFF) which is overseen by the International Monetary Fund.

On Monday, the PSOJ said its monthly monitoring has shown improvements in the fiscal balances, current account balance, business confidence, and the lowering of inflation and interest rates.

“We are, therefore, optimistic that if Jamaica continues on the path of fiscal and economic reform that we started approximately two years ago, we will see greater stabilisation and business confidence, which are essential for the country’s sustainable development,” the PSOJ added.

The PSOJ said that despite the noted improvements in the economy, there was still much more to be done, specifically in relation to greater facilitation of the business environment at the small and medium enterprise (SME) level.

“Our feedback is that large and established businesses are seeing more opportunities for investment, but there is still significant difficulty being experienced at the SME level,” the PSOJ said.

Mahfood told The Gleaner that he realised that a number of persons in support of the opposition Jamaica Labour party (JLP) have taken the view that the statement was an endorsement of the PNP.

“We are endorsing the impact of the programme to this point and we think it is important that we continue along this path. There has to be more focus on the other components of the economic reform programme such as pension reform and public sector transformation,” the PSOJ president said.

But Audley Shaw, opposition spokesman on finance, said he agreed that the economic programme should not be subjected to political considerations. He said, too, that he supported the point in seeking to maintain the fiscal gains that have been made.

He said, however, that the timing of the statement by the PSOJ opened the door for it to be interpreted as support for the PNP.

 

 

Published By: The Gleaner

No Tags

209 total views, 1 today

  

Leave a Reply

  • Penalise politicians who provide service on a partisan basis ­ — Meadows

    by on January 26, 2016 - 0 Comments

    JLP caretaker calls for action as Trelawny residents take to the street Placard-bearing residents gather at a section of the Salt Marsh to Goodwill main road yesterday to protest against the poor road conditions in the area.  SALT MARSH, Trelawny — Jamaica Labour Party (JLP) caretaker for Trelawny Northern Dennis Meadows yesterday called for laws […]

  • Will Cameron Speak On Reparation?

    by on September 29, 2015 - 0 Comments

    In pic: Prime Minister David Cameron. Olivia Grange said she believes Cameron would consider it unusual to be visiting Jamaica at this time in history and have extensive discussions with top government officials and not have the subject of reparation raised at some point. The Jamaica Labour Party (JLP) is questioning whether the Government will […]

  • Constable Crystal Thomas

    by on July 16, 2015 - 0 Comments

    She fought to the end | Lead Stories | Jamaica Gleaner Woman Constable Crystal Thomas Norman Grindley Senior Superintendent of Police Cornwall ‘Bigga’ Ford (right) escorts National Security Minister Peter Bunting, who visited the Denham Town Police Station in west Kingston, to get an update after the murder of woman Constable Crystal Thomas, who was […]

  • http://www.insightjamaica.com/

    by on July 4, 2015 - 0 Comments

    You can post your add here for free.

  • Singjay J Capri dies

    by on December 4, 2015 - 1 Comments

    KINGSTON, Jamaica — Sources have confirmed that singjay J Capri, who was hospitalised for more than a week following a motor vehicle crash, has died. The entertainer reportedly succumbed to her injuries this morning at the University Hospital of the West Indies in St Andrew. Read: J Capri hospitalised after car crash Social media users on […]

Follow Us on Facebook