Gov’t needs to act quickly on manufacturer’s plans

Financial analyst Ralston Hyman is suggesting that the government needs to act quickly on its plans to help manufacturers deal with any likely impact from the global financial crisis.



During his address to the nation last night, Finance Minister Audley Shaw said Cabinet is to sign off shortly on a proposal by the Jamaica Manufacturers’ Association for special and differential treatment in government procurement for local manufactures and services.



Special funding windows are also to be established through the Jamaica Business Development Company to assist small businesses and micro enterprises.



According to Hyman, the measures mean that the manufacturing sector will be given more opportunities to bid on jobs being offered by the government in relation to foreign manufacturers.



Meanwhile, Hyman said the Finance Minister’s presentation largely represented a regurgitation of measures already taken by the government and lacked significant analysis on the current global financial crisis.