• Today
    August 06

  • 06:20 PM

OCG concerned about gov't deal

Added 18 May 2010

KINGSTON – THE Office of the Contractor General (OCG) says it has grave concerns regarding Government’s proposed multi-billion dollar deal to sell its 45 per cent stake in the jointly owned Government/Alcoa JAMALCO alumina refinery to the Chinese entity, Zhuhai Hongfan Non-ferrous Metals And Chemical Engineering Limited (Hongfan). “Hongfan’s exclusive agent for the deal is a company called Port Reliant Limited (Port Reliant), about which the OCG has suspicions,” the OCG said in a release today. “The deal is also subject to Alcoa’s right of first/last refusal.” At the root of the OCG’s concerns are at least five major considerations which, when taken together, have raised serious questions for the OCG regarding the public interest, transparency, value for money, competition, conflicts of interest, propriety and the merit and impartiality of the prospective contract award to Hongfan. The five considerations, the OCG said, include that the proposed equity divestment was not put to public competitive tender by the Government but was, instead, directly negotiated with Port Reliant and/or Hongfan; and that Port Reliant has refused to make a full due-diligence disclosure to the Government regarding itself, its agency agreements with Hongfan, its historical business activities and its beneficial ownership, in keeping with certain OCG requests which were directed to the Mining and Energy Ministry. The OCG has reiterated its concerns regarding the proposed deal with Hongfan, it said, “particularly in light of the continuing lack of clarity about Port Reliant’s involvement in the matter and its curious and inexplicable refusal, to date, to provide certified documentary evidence about itself and its beneficial ownership”. The contractor general Greg Christie says he has adopted a resolute position on the matter. “The OCG has cautioned the Government that if the requested information is not fully forthcoming from Port Reliant, it, the Government, in the public’s interest, should shelve the deal. If the Government fails to heed the OCG’s recommendation, the OCG will forthwith launch a major investigation into the matter and will use the full force of its quasi-judicial powers to secure all pertinent facts and bring them within the public domain,” the OCG said.(Jamaica Observer)

JOIN THE DISCUSSION

Dos and Donts


Welcome to our discussion forum here on nationnews.com. We encourage lively debate, but we also urge you to take note of the following:

  • Stay on topic – This helps keep the thread focused on the discussion at hand. If you would like to discuss another topic, look for a relevant article.
  • Be respectful – Meeting differences of opinion with civil discussion encourages multiple perspectives and a positive commenting environment.
  • Do not type in capitals – In addition to being considered “shouting” it is also difficult to read.
  • All comments will be moderated – Given the volume of comments each day, this may take some time. So please be patient.
  • We reserve the right to remove comments – Comments that we find to be abusive, spam, libellous, hateful, off-topic or harassing may be removed.
  • Reproduction of comments – Some of your comments may be reproduced on the website or in our daily newspapers. We will use the handle, not your email address.
  • Do not advertise – Please contact our Advertising Department.
  • Contact our Online Editor if you have questions or concerns.
  • Read our full Commenting Policy and Terms of Use.
comments powered by Disqus

POLL

Is enough done to mark Emancipation Day in Barbados?

Yes
No

FRONT COVER OF TODAY'S NEWSPAPER

CARTOON

INSTAGRAM