PNP wastefulness costing tax payers near 100 Million

LBC
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With the PNP calling for more money to be spent on National Security and Public Sector wages, it’s  reported that a major infrastructure development under the Patterson led PNP regime is costing the country over 50 million dollars to maintain while making nothing virtually to  pay for it’s massive price tag.

The Trelawny Multipurpose Stadium at Florence Hall continues to be a drag on the Government’s coffers, accounting for more than $50 million annually towards its operating expenses, while offering few opportunities to fund itself out of its current non-productive state.

In 2014, the stadium received a $49.1 million grant from the national Budget, $24.7 million of which was earmarked for the offsetting of its operating expenses, even though it is yet to prove that it has the potential to be a viable investment. It also accounted for $35.2 million the previous year.

Approximately $52.17 million has been set aside in budgetary support for the facility’s upkeep in recent years, an increase of 6.25 per cent over the 2014 figure.

Meanwhile, the annual operating expenses for the facility for financial year ending March 2017 stood at $36,351,960, according to Major Desmon Brown, general manager of Independence Park, which manages the stadium.

The Trelawny Multipurpose Stadium was constructed in 2007 with a loan of US$30 million from China for the hosting of that year’s ICC Cricket World Cup warm-up matches and the opening ceremony.

Since then, however, only a handful of competitive cricket matches and a few Trelawny Major League football championship games have been played there.

The venue’s most prominent tenant, the Jamaica Jazz and Blues Festival, which drew thousands of patrons yearly, has folded, leaving the facility without any form of revenue stream.

The white Elephant Stadium in Trelawny is just one instance of a massive waste of money been spent on a project that was Ill thought out and built specifically to sooth a wasteful government’s ego, rather than having any financial plan to make it profitable.

 

Staff Reporter

Send news stories to news@lbcnewsjm.com

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