A major investor that was going to pump over 67 Billion dollars into the local economy and provide over 7000 jobs, is threatening to pull the investment after Former Contractor General Dirk Harrison, wrote a careless piece in one of the Nation’s newspapers alledging that he got a sweetheart deal.
It’s understood, that the piece has drawn the ire of the investor who through his lawyer Hugh Hart is threatening to take the investment elsewhere.
The former OCG known for his quick to judgement, short on substance investigations had alledge that the UDC sale of Rooms on the Beach property gave a discount of 1 billion dollars, through the intervention of Minister Daryl Vaz to the Moon Palace boss. He concluded that the UDC was not able to freely negotiate because of Vaz.
However, in a stunning development, the newly formed Integrity Commission that subsumed the Office of the Contractor General, commissioners disagreed with Harrison’s conclusions, basically calling them bias and unable to stand up to scrutiny if read by an objective person. That stinging rebuke, infuriated Harrison who in turn pen the Op-ed that could now see Jamaica lose 67 Billion dollars in investment and 7000 jobs.
Jamaica is set to lose 4 Billion dollars in tax revenue over three years. If Jamaica does lose the investment, it would amount to the country loosing 71 Billion dollars and thousands of jobs, plus billions more in GCT as the persons who would be employed would have been spending money on the purchase of goods on services. That could cumulatively run into hundreds of billions of dollars.