Business under siege!

Posted by: Owen James in Untagged  on  

downtown_kingston.jpg
Downtown Kingston
Legitimate business activity is threatened by the tension which now exists in the Corporate Area (Kingston and St. Andrew), as well as other high-density crime areas such as Spanish Town and sections of Montego Bay. Normality is needed quickly!

 

The threat to legitimate businesses is not confined to these areas, as important areas of national life such as the commercial banking system, the Bank of Jamaica,  the Jamaica Stock Exchange, the ports of entry, tourism, manufacturing have all experienced reduced activity and thus reduced revenues over the last four days.

 

Every day legitimate businesses are forced to operate for only fifty percent of a day, the economy loses billions of dollars.

 

The legitimate business community needs to work closely with the security forces and the political directorate to work out strategies to ensure normality quickly. Do something proactive and stop talking!

 

The country’s economy is precariously perched and though Jamaica passed the first quarterly IMF test, it’s just breathing room and thus no time for complacency.

 

We need to hear from agencies such as the Bankers Association, the Private Sector Organization of Jamaica and the Jamaica Chamber of Commerce on the precise toll on businesses, triggered by the brazen confrontations between criminal elements and the security forces.

 

This is a sequel to my blog yesterday entitled ‘All hands on deck’ for which I was taken to task by some and told simplistically to stick to business reporting.

 

The fact is that, in this atmosphere there is an inverse relationship between increased criminal activity and business and so when the economic cost is counted the price of the present tension could well be more than we can bear as a nation!

 

Jamaica is also now the target of carpet-bagging international news organizations, which thrive on sensationalism and erroneous ‘news reports’ and that too carries an economic cost, particularly to tourism.

 

It’s heartening to hear that the Jamaican government has set up a central area to give journalists regular briefings on what’s happening in this period of national crisis. It needs to go on the offensive to counter the disinformation strategies which appear geared towards regime change.

 

It’s also heartening to see the stance of the parliamentary opposition which is supporting the anti-crime initiatives, but with the caveat of respect for human rights.

 

It’s our country! We must do all we can to save it!

 

God bless Jamaica land we love!

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Civil Unrest + Operation Take Back Tivoli: The Economic Costs
written by Yardman, May 26, 2010
"This is a sequel to my blog yesterday entitled ‘All hands on deck’ for which I was taken to task by some and told simplistically to stick to business reporting."

LOL. Simplistically? Not at all. This blog is a business blog, so why mix in political commentary with the business content? You need another blog to discuss politics. Btw, It would be nice to read about the total bill for the Tivoli operation. The government will have to find money to pay soldiers and police for over-time duty.. food, first aid, fuel, ammo.. damage to property.. provide aid to innocent victims of the violence.. not to mention the hospital staff.. the nurses who were already raising hell for money owed to them for years now.. how much money the economy lost per day from disruption in economic activity... air travel, tourism.. losses from looting.. Can the finance ministry put a number on all that? Would make an interesting read.

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