November 26, 2014

For Immediate Release

Private Sector Groups Disappointed with NHT Developments
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.
In the event that this statement is true then we have to question the fundamental
nature of governance of the NHT from its inception. On the other hand, if this
statement is found to be untrue then it is the view of the JCC, JMA, and PSOJ, that
this would make untenable the position of Mr. Douglas as Chairman of the NHT.
The private sector groups welcome the revelation that as we had called for, both
the Auditor General and the Office of the Contractor General have now started
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investigations into the NHT and we anxiously await the outcome of these
investigations.
While the nation awaits the reports of these investigations, the JCC, JMA, and the
PSOJ call for an immediate and urgent review of the governance structure at the
NHT by an appropriate and independent body, and for the recommendations of this
review to be implemented as soon as possible. Until then the groups call on the
NHT to put on hold any and all further expenditures by the Trust on projects not
directly related to its primary mandate of providing affordable housing for its
contributors.

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Email:
Tel:

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Ms. Kareen Cox, Marketing & Public Relations Manager, PSOJ

kareenc@psoj.org
927-6238 (Ext. 2052); Fax 978-2709