TG

[Tuff Gong]

Re: TG

[ QUOTE ]

it wasnt realy a pop off for him he is employed by The Canada Revenue Agency (so dem call our equiv of IRS) so dem jus sen him down deh as part of a aid agreement wid the jamaica govt.
him sey jus afath him lef the whole senior mgt of the tax dept change... so yuh know everyting on di shelf.

[/ QUOTE ]

The GOJ of Jamaica can write a book on how to use, miuse and abuse Aid.

[evanovitch]

Re: TG

i invite reactions to the latest news that the government is considering divesting off its likkle interest in JPS and PetroJam...

i wonder whether we have 'national interests' in Jamaica in the same way that they always seem preoccupied with them here in the US...

[RichD]

Re: TG

they think they can do the same thing Big countries like Canada do. i dont understnd why governemts do not learn for experiences likt that in california.

btw..what percentage of petrojam do they own?

[Hopyoneson]

Re: TG

The gov looking to balance the budget and scrouging for any bit of extra money, that is the real economics behind this deal, sad state of affairs thattheir coffers are so empty, they plan to cannibalize themself.

[niceniss]

Re: TG

remember back when Seaga thought he could use Petrojam to make money for Jamaica(branching off in manufacturing an dem ting deh)? critics complained that he was too "hands on" and that he should seek manufacturing investors instead of trying to create a govt one. see now, pnp a sell out all.

[niceniss]

Re: TG

Seaga nickname "blinds" by pnp(cause him always a squint) but you see a really who lack vision?

without vision the people perish!

[Tuff Gong]

Re: TG

[ QUOTE ]
btw..what percentage of petrojam do they own?

[/ QUOTE ]
II think they own about 20%. I think their stake in most of the partly divested companies, where they are not the majority partner, is about 20% each

The problem is of course money and the GOJs voracious appetite, but another more serious issue for the GOJ is increases and their exposure risk. When it is time to increase fuel, light bill and other utilities if the GOJ owns Ja$0.01 in offending company and the masses take offence the likeliest target is the Government.

I think Dr. Davies and the crew is try to get out of a potential burning wreck.

[niceniss]

Re: TG

[ QUOTE ]

btw..what percentage of petrojam do they own?

[/ QUOTE ]
20% check out power 106. me a listen to it now

petrojam, some lands, some hotels (and the ports?)

[RichD]

Re: TG

came accrosst this int he gelaner:

web page

hese two jumped out at me:

[ QUOTE ]
Cedric Stewart, JMMB director and manager of the Tropical Plaza branch, said, "From the government's perspective, it is good that they are in a position to stay at 180 days and below for its repo offerings. It shows that the government doesn't have a liquidity problem. And it is assumed that you could see a slight reduction in interest rates, but nothing drastic. For example, you could see the 30 day repurchase agreement come down to 10 per cent."



[/ QUOTE ]
[ QUOTE ]
"And government will see tremendous interest cost savings plus, from our whole international credit worthiness standpoint it will send a strong signal that the economy is robust and that Jamaica is willing to stick to fiscal prudence."



[/ QUOTE ]

[niceniss]

Re: TG

[ QUOTE ]
came accrosst this int he gelaner:

web page

hese two jumped out at me:

[ QUOTE ]
Cedric Stewart, JMMB director and manager of the Tropical Plaza branch, said, "From the government's perspective, it is good that they are in a position to stay at 180 days and below for its repo offerings. It shows that the government doesn't have a liquidity problem. And it is assumed that you could see a slight reduction in interest rates, but nothing drastic. For example, you could see the 30 day repurchase agreement come down to 10 per cent."



[/ QUOTE ]
[ QUOTE ]
"And government will see tremendous interest cost savings plus, from our whole international credit worthiness standpoint it will send a strong signal that the economy is robust and that Jamaica is willing to stick to fiscal prudence."



[/ QUOTE ]

[/ QUOTE ]

question is: do you believe it?
JMMB was born out of the govts financial policy of trading papers, so if this guy is a benefactor of that what makes you think(do you?) he might be objective, especially when he now has interest in what the govt's currently doing? [img]/forums/images/graemlins/70456-eyebrows.gif[/img]

[RichD]

Re: TG

[ QUOTE ]
[ QUOTE ]
came accrosst this int he gelaner:

web page

hese two jumped out at me:

[ QUOTE ]
Cedric Stewart, JMMB director and manager of the Tropical Plaza branch, said, "From the government's perspective, it is good that they are in a position to stay at 180 days and below for its repo offerings. It shows that the government doesn't have a liquidity problem. And it is assumed that you could see a slight reduction in interest rates, but nothing drastic. For example, you could see the 30 day repurchase agreement come down to 10 per cent."



[/ QUOTE ]
[ QUOTE ]
"And government will see tremendous interest cost savings plus, from our whole international credit worthiness standpoint it will send a strong signal that the economy is robust and that Jamaica is willing to stick to fiscal prudence."



[/ QUOTE ]

[/ QUOTE ]

question is: do you believe it?
JMMB was born out of the govts financial policy of trading papers, so if this guy is a benefactor of that what makes you think(do you?) he might be objective, especially when he now has interest in what the govt's currently doing? [img]/forums/images/graemlins/70456-eyebrows.gif[/img]

[/ QUOTE ]

are you questioning the facts he used to arrive at his analysis? the liquidity situation? the repo rate?

trusting those facts..and based on my own observations i see noting wrong with his analysis and conclusion. but i would be happy see any facts and figures which would suggest that this is invalid.

[Tuff Gong]

Re: TG

[ QUOTE ]
[ QUOTE ]
came accrosst this int he gelaner:

web page

hese two jumped out at me:

[ QUOTE ]
Cedric Stewart, JMMB director and manager of the Tropical Plaza branch, said, "From the government's perspective, it is good that they are in a position to stay at 180 days and below for its repo offerings. It shows that the government doesn't have a liquidity problem. And it is assumed that you could see a slight reduction in interest rates, but nothing drastic. For example, you could see the 30 day repurchase agreement come down to 10 per cent."



[/ QUOTE ]
[ QUOTE ]
"And government will see tremendous interest cost savings plus, from our whole international credit worthiness standpoint it will send a strong signal that the economy is robust and that Jamaica is willing to stick to fiscal prudence."



[/ QUOTE ]

[/ QUOTE ]

question is: do you believe it?
JMMB was born out of the govts financial policy of trading papers, so if this guy is a benefactor of that what makes you think(do you?) he might be objective, especially when he now has interest in what the govt's currently doing? [img]/forums/images/graemlins/70456-eyebrows.gif[/img]

[/ QUOTE ]

Technically he is correct on a practical level it is worthless. The NIR for instance is borrowed at high interests rates and loaned by the GOJ at a fraction of those rates.

The International Credit worthiness does not add one ha'ppeny to our GDP. It does not stop one factory from closing, all it does is allow Dr. Davies to (as Motty P. said) borrow the means of our subsistence.

[RichD]

Re: TG

on funding the buget:

[ QUOTE ]
Davies warned that achieving the target of a fiscal deficit of 2.5 per cent of GDP this year will require tax authorities to adopt an aggressive approach toward increasing collections.
To this end, the tax administration services will be undertaking special projects aimed at: (i) auditing and assessing very large companies;

[/ QUOTE ]

web page

[Tuff Gong]

Re: TG

[ QUOTE ]
on funding the buget:

[ QUOTE ]
Davies warned that achieving the target of a fiscal deficit of 2.5 per cent of GDP this year will require tax authorities to adopt an aggressive approach toward increasing collections.
To this end, the tax administration services will be undertaking special projects aimed at: (i) auditing and assessing very large companies;

[/ QUOTE ]

web page

[/ QUOTE ]

Tell me something RichD, do you follow the news in Jamaica or do you just merely react to announcements?
This is a critical year for the new Prime Minister, possibly an election year, going by the recent history of PNP and specifically Dr. Davies, we know that he has said this before then came back with a whopping tax package the next budget year. We know he said that the authorities will go after so-called Tax Cheats and is still saying the

In this same dissuasion you have told us that your friend who was employed as a consultant to the GOJ, said that when it was time to assess the Big Man a call was made and the minister himself blocked the assessment.

The other thing, is there really significant taxes out there to collect, or is it that like the recent God utterings of Ayatollah PSM, claiming to go after the Big Man Tax avoider is guaranteed to get a lot of mileage in the press on the verandahs and on this board. Even if this was true if we cannot catch the common criminal how are you going to catch persons who have the means and the influence to conceal their avoidance?
This will be like the USA trying to deport 12 million illegal aliens, it will cost more than it is worth. I think the GOJ better do some work it is as simple as that.

We are very complacent and gullible and the recent history will not interrupt our quest for good news via spin and damage control.

[evanovitch]

Re: TG

[ QUOTE ]
remember back when Seaga thought he could use Petrojam to make money for Jamaica(branching off in manufacturing an dem ting deh)? critics complained that he was too "hands on" and that he should seek manufacturing investors instead of trying to create a govt one. see now, pnp a sell out all.

[/ QUOTE ]

have u read the latest statement from PetroJam re their intent to go into corn oil....and how it will affect oil price etc etc etc etc...dem decide as of today so dat mean we should seeeee some result in C22th [img]/forums/images/graemlins/rolleyes.gif[/img] [img]/forums/images/graemlins/rolleyes.gif[/img]