Layne: Private sector to blame

A FORMER HIGH-RANKING public servant has charged that Barbados’ private sector is inept and failed to position investment in the southern Caribbean when the country was doing well.

The accusation was levelled Wednesday night by retired permanent secretary in the Ministry of Finance, William Layne, who said the failure to act was the reason that privately-owned companies were being taken over.

Layne, a shareholder in Desnoes & Geddes Limited, which is the majority shareholder of Jamaica’s Red Stripe beer – couched his argument within the context of the takeover bid of Banks Holding Limited (BHL).

He described arguments surrounding Barbadian ownership as nonsense, explaining: “It is not important who owns an asset. What is important is what use you make of the asset.” (WILLCOMM)

Please read the full story in today’s Weekend Nation, or in the eNATION edition.