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PNP calls for PM to deny conflict of interest in Finsac Commission
The Executive of the People’s National Party is calling for the Prime Minister to immediately assure the public that there is no conflict of interest affecting the integrity of the FINSAC Commission of Enquiry.
The party says its concerns arise from a newspaper report and information in its possession which suggests that at least one member of the Commission is compromised.
On the weekend, a Sunday Herald report suggested that Chairman of the Commission, Justice Boyd Carey held account in the now defunct Century National Bank which received assistance from the Financial Sector Adjustment Company (FINSAC).
The PNP wants Prime Minister Bruce Golding to confirm to the country that no conflict of interest arises either in relation to persons leading the evidence before the Commission or the advisor to the Commissioners.
The party said it is particularly revolted that with the suggested conflicts of interest and reported costs, the Commission seems unlikely to generate findings in which the public can have any confidence.
The PNP claims this is because of the biased procedures that have so far been adopted.
However, the Finance Minister, Audley Shaw has sought to defend the millions of taxpayer dollars being spent on the Commission of Enquiry into the 1990s collapse of the financial sector.
Mr. Shaw told The Gleaner that the approximately $80 million budgeted for the controversial exercise is a small price to pay for the lessons to be learnt.
He argues that powerful interests are attempting to derail the enquiry which led to the creation of the Financial Sector Adjustment Company.
He has also vowed that the hearings will continue until the end.
Official documents gleaned under the Access to Information Act show that the Ministry of Finance budgeted $79.9 million for the FINSAC enquiry.
According to the documents, Justice Boyd Carey who chairs the commission is to be paid $15.12 million for 70 days.
The other two commissioners, Charles Ross and Worrick Bogle are both to be paid $7.56 million each, bringing the total being paid to the com-missioners of the enquiry to $30.24 million.
Despite the government’s admitted financial constraints, Mr. Shaw has pledged that the Bruce Golding administration will find the money to continue the sittings.
The government is being charged US$1000 per month plus General Consumption Tax for using the hotel’s facility to house the secretariat for the Commission of Enquiry.
The duration was for six months beginning May 18, 2009, but was renewable subject to mutual agreement for additional years.
It has been eight months since the commencement date noted in the contract between the hotel and the government.
The Executive of the People’s National Party is calling for the Prime Minister to immediately assure the public that there is no conflict of interest affecting the integrity of the FINSAC Commission of Enquiry.
The party says its concerns arise from a newspaper report and information in its possession which suggests that at least one member of the Commission is compromised.
On the weekend, a Sunday Herald report suggested that Chairman of the Commission, Justice Boyd Carey held account in the now defunct Century National Bank which received assistance from the Financial Sector Adjustment Company (FINSAC).
The PNP wants Prime Minister Bruce Golding to confirm to the country that no conflict of interest arises either in relation to persons leading the evidence before the Commission or the advisor to the Commissioners.
The party said it is particularly revolted that with the suggested conflicts of interest and reported costs, the Commission seems unlikely to generate findings in which the public can have any confidence.
The PNP claims this is because of the biased procedures that have so far been adopted.
However, the Finance Minister, Audley Shaw has sought to defend the millions of taxpayer dollars being spent on the Commission of Enquiry into the 1990s collapse of the financial sector.
Mr. Shaw told The Gleaner that the approximately $80 million budgeted for the controversial exercise is a small price to pay for the lessons to be learnt.
He argues that powerful interests are attempting to derail the enquiry which led to the creation of the Financial Sector Adjustment Company.
He has also vowed that the hearings will continue until the end.
Official documents gleaned under the Access to Information Act show that the Ministry of Finance budgeted $79.9 million for the FINSAC enquiry.
According to the documents, Justice Boyd Carey who chairs the commission is to be paid $15.12 million for 70 days.
The other two commissioners, Charles Ross and Worrick Bogle are both to be paid $7.56 million each, bringing the total being paid to the com-missioners of the enquiry to $30.24 million.
Despite the government’s admitted financial constraints, Mr. Shaw has pledged that the Bruce Golding administration will find the money to continue the sittings.
The government is being charged US$1000 per month plus General Consumption Tax for using the hotel’s facility to house the secretariat for the Commission of Enquiry.
The duration was for six months beginning May 18, 2009, but was renewable subject to mutual agreement for additional years.
It has been eight months since the commencement date noted in the contract between the hotel and the government.
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