Govt Yet to Decide on Abandonment of Bauxite Levy

46

Finance Minister, Audley Shaw, says the government has not made a policy decision to abandon the long running bauxite levy regime.

There’ve been recent concerns regarding the non-performance of the bauxite levy arrangement, due in part to fluctuating fortunes in the global alumina market.

Mr. Shaw answered questions on the issue of the bauxite levy from Opposition Spokesman on Finance, Dr. Peter Phillips, at today’s sitting of parliament’s Standing Finance Committee.

[audio_mp3 url=”http://nationwideradiojm.com/wp-content/uploads/2017/03/Peter-Phillips-levy-question.mp3″]

Mr. Shaw explained to Dr. Phillips that the recent profit sharing arrangement with Noranda should not be interpreted as a policy push to abandon the bauxite levy regime.

[audio_mp3 url=”http://nationwideradiojm.com/wp-content/uploads/2017/03/Shaw-says-not-abandoned.mp3″]

The Finance Minister noted that the administration has not projected revenues from bauxite levy arrangements for this fiscal year.

He says in the case of the Chinese-owned, Jiuquan Iron and Steel, JISCO, the company is moving to double its production of alumina in Jamaica.

Mr. Shaw says JISCO has put on hold the issue of alumina production because they are sensitive to environmental concerns about the use of coal.

[audio_mp3 url=”http://nationwideradiojm.com/wp-content/uploads/2017/03/Audley-says-levy-will-chip-in.mp3″]

— 30 —



Abka Fitz-Henley is a multiple award-winning journalist who is currently the Senior Reporter at Nationwide News Network (NNN). His primary areas of focus are Court, Crime and Parliamentary proceedings. Fitz-Henley was recently recognized in the regional celebrity magazine publication Panache as “The Breaking News Boss”. At 21 years of age, following his 1st year in media, Fitz-Henley was recognized with the Young Journalist of the year award from The Press Association of Jamaica and went on to cop one of the country’s highest recognized journalism prizes, the Journalist of the Year Award. He’s also been awarded the prestigious Corporate Jamaica Broilers Fairplay 1st place Award for investigative journalism and is the recipient of the Caribbean Blog Award for coverage of the infamous Kartel murder trial. Fitz-Henley is also the recipient of the PM Youth Award for Excellence. Over the years, he has appeared as a guest on the BBC World Service and BBC London.