November 18, 2021 | Zhane Squire |
Clarendon Alumina Partners, CAP, which owns the government’s 45%% stake in JAMAL.CO, is a major strategic asset of the Government of Jamaica. Given the level of public resources invested in CAP, it is of macro-critical importance, Currently, the entity has been engaged in a multi-year project to incorporate JAMALCO to better secure and mirage its value.
Reports and allegations in the press regarding CAP, are troubling. Instability in its governance, is inimical to the national interest, given the significance of the JAMALCO incorporation
I have therefore asked Minister Montague to provide me with a report on the situation at CAP, particularly on the incorporation process and the contract in question. I have also directed the Minister to indicate to the Bound of CAP, that the contract in question should be put on hold until the Cabinet has had a chance to review the Minister’s report
Source Office of the Prime Minister