Dear Sir,
The Government of Jamaica has bought back the debt from the Venezuelan Government at a discounted price and the International Monetary Fund (IMF) has given it its stamp of approval. What about the hundreds of local, small, medium, and large contractors who are owed billions by the Government of Jamaica? Some of them are unable to continue to do business with the Government, as they have been declared non-responsive at bid opening, because they cannot honour their tax obligations.
A colleague of mine who is a contractor, on extension of contract, was unable to bid for a new contract as he could not obtain a Tax Compliance Certificate, which is mandatory. He tried to work something out with the Ministry of Finance and Planning but his proposal was not entertained. He is owed millions by the Government and remains frustrated.
Small- and medium-sized enterprises form the nucleus of business enterprises in Jamaica, and if the Government allows this sector to be wiped out the result will be catastrophic. The Government must find creative ways and means to honour its obligations. The IMF must look at the debt owed to local companies by the Government, with a view to having the Government use some of its funds to pay local obligations.
Local contractors are asked to supply the Government with goods and services, however, when they tender their bill of quantities and receive their purchase orders they cannot get paid, and if they do get paid the amount is a paltry sum that cannot meet their obligations to creditors.
It is good to buy back a debt owed to a foreign country, but what about local creditors? The Government charges interest and penalty on late payment of taxes, will the Government be willing to pay interest on the local debt?
I urge the Minister of Finance and Planning Dr Peter Phillips to look into the matter with a view to remedying the untenable situation that exists. I know that he inherited the problem, but somebody has to bell the cat.
Joseph M Cornwall Sr, JP
Managing Director/CEO
House of Tranquillity Funeral Home
tranquillityfh@yahoo.com
IMF must see to it Gov't pays locals
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The Government of Jamaica has bought back the debt from the Venezuelan Government at a discounted price and the International Monetary Fund (IMF) has given it its stamp of approval. What about the hundreds of local, small, medium, and large contractors who are owed billions by the Government of Jamaica? Some of them are unable to continue to do business with the Government, as they have been declared non-responsive at bid opening, because they cannot honour their tax obligations.
A colleague of mine who is a contractor, on extension of contract, was unable to bid for a new contract as he could not obtain a Tax Compliance Certificate, which is mandatory. He tried to work something out with the Ministry of Finance and Planning but his proposal was not entertained. He is owed millions by the Government and remains frustrated.
Small- and medium-sized enterprises form the nucleus of business enterprises in Jamaica, and if the Government allows this sector to be wiped out the result will be catastrophic. The Government must find creative ways and means to honour its obligations. The IMF must look at the debt owed to local companies by the Government, with a view to having the Government use some of its funds to pay local obligations.
Local contractors are asked to supply the Government with goods and services, however, when they tender their bill of quantities and receive their purchase orders they cannot get paid, and if they do get paid the amount is a paltry sum that cannot meet their obligations to creditors.
It is good to buy back a debt owed to a foreign country, but what about local creditors? The Government charges interest and penalty on late payment of taxes, will the Government be willing to pay interest on the local debt?
I urge the Minister of Finance and Planning Dr Peter Phillips to look into the matter with a view to remedying the untenable situation that exists. I know that he inherited the problem, but somebody has to bell the cat.
Joseph M Cornwall Sr, JP
Managing Director/CEO
House of Tranquillity Funeral Home
tranquillityfh@yahoo.com
IMF must see to it Gov't pays locals
-->