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Bank of Jamaica to be given independence from Gov’t Wednesday, 19 September 2007 Prime Minister Bruce Golding is to lead discussions Wednesday on legislative changes which will among other things give independence to the Bank of Jamaica.
Mr. Golding has long lobbied for the Central Bank to operate as an independent entity free from Government influence.
He says issues concerning the awarding of contracts will also be discussed Wednesday.
"There is a question of amending the Contractor General's Act to criminalize breaches of the contract awards procedures because as I have complained so consistently we have a contract awards procedure, guidelines for the awards of contracts but it does not have a single penalty in it," said Mr. Golding.
"So if you totally disregard it, if you by pass all of the guidelines and all of the authorities that are to be there to vet and scrutinise the awards of contracts there is no punishment whatsoever. We are going to make criminal charges, we're going to impose criminal charges," he continued.
Mr. Golding has long lobbied for the Central Bank to operate as an independent entity free from Government influence.
He says issues concerning the awarding of contracts will also be discussed Wednesday.
"There is a question of amending the Contractor General's Act to criminalize breaches of the contract awards procedures because as I have complained so consistently we have a contract awards procedure, guidelines for the awards of contracts but it does not have a single penalty in it," said Mr. Golding.
"So if you totally disregard it, if you by pass all of the guidelines and all of the authorities that are to be there to vet and scrutinise the awards of contracts there is no punishment whatsoever. We are going to make criminal charges, we're going to impose criminal charges," he continued.
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