Golding says Ministry approval unnecessary for UDC purchase

Prime Minister, Bruce Golding says approval was not needed from the finance ministry with regard to the purchase of the Ferry lands.



Yesterday in parliament opposition spokesman on finance, Dr Omar Davis, asked whether it was a requirement that the UDC get the approval of the ministry before incurring debt.



Mr Golding says the approval of the finance ministry was unnecessary since the debt was adequately secured using UDC assets.



Furthermore, he says a representative of the Ministry of Finance sat on the Board of the UDC.



Meanwhile Mr Golding says the UDC is currently preparing a lease agreement to be pursued with the privately run group of schools.



However, he says it will be a short to medium term lease: