NHT board should cease the search for a new Managing Director, they do not have our trust !

The NHT board in its current format and constitution CANNOT be allowed to continue to function as if its business as usual. It ts clear that the board of the National Housing Trust has lost of Trust of the people of Jamaica and even that of other board members who have resigned.

This means the board should be immediately dissolved and a new board selected, which has the trust and  confidence to the people and can return some level of decency and credibility to the NHT, nothing less can be accepted.

The board should therefore be called upon to halt it’s search for a new MD as, we the contributors do not trust the judgement and business acumen of the existing members of the board, to select someone who can effectively manage the affairs of the fund, with assets of over $200b. The board is afflicted with some sort of incompetence that does not even allow them to recognize when they have done something wrong and so cannot be allowed to continue in their substantive roles.

They clearly do not understand business, they lack knowledge of corporate governance, they have no idea of what constitute good investment decisions and how these are to be made and instead are driven by arrogance and gut feeling, which cannot be good for the continued viability of the fund.

We the contributor feel, that if the current board is allowed to select a candidate, this person, no matter how qualified they may appears on paper, will be seen as a lackey, a supporter of the PNP and immediately their own credibility would be subjected to scrutiny. We also feel they will not necessarily get the support they need to function, being another political appointee, who is willing to take a party position vs working in the interest of the contributors.

Madame Prime Minister, please rescue whatever little credibility you have left by sacking this board before they do more damage to you, the party, the fund and the country.

Is the Prime Minister capable of working on such a rather simple task.

Failing to do so will confirm that Portia Simpson Miller is no real leader and instead a mere figurehead who also needs to be given the boot.

I would support a no confidence vote against the Prime Minister if she fails to act against the current board.

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6 Responses

  1. Does being a supporter of the PNP ( or JLP) precludes one from being appointed to a board ?

    • Activist should be excluded as their decisions are most often not grounded in facts and data, but on politics. Once that gets in the way good judgement and prudence goes out the door.

      It can also happen if you are not an activist, but once identified it should be dealt with sufficiently and with a big boot.

      • Danville Walker is a good worker, but he entered politics, would that preclude him, so too Aubyn Hill. Most good workers are activist of either political party !!! Peter Bunting and Mark Golding would serve good on any financial board, but they are activists.

        i.e. your point does not hold water !!!

        • Good worker and activist are almost always mutually exclusive. In Jamaica we seem not able to separate the job from the politics and that is where the problem lies. Ie my point is very valid

  2. Of course, my good friend conveniently fails to spotlight one of his JLP Activist (Ian Moore) and his participation on the PCJ Board and whose action (self-serving I suppose?) cost the people of Jamaican millions of dollars. Jay, do you care to hazard a guess as to the cost impact of Mr. Moore’s “blatant bypass of the PCJ’s approval process”? Jay, how could this pass your eagle’s eyes or is it because there was no PNP activist involved?

    Former PCJ Chair Overstepped His Bounds – OCG
    Published: Wednesday | November 19, 2014

    Contractor General Dirk Harrison has determined that former Petroleum Corporation of Jamaica (PCJ) Chairman Ian Moore acted outside of his authority in committing the Government to the purchase of ethanol from Infinity Bio-Energy.

    In a report of a special investigation into the award of contracts to Infinity Bio-Energy and JB Ethanol in 2008, Harrison said Moore’s position was that of a non-executive chairman and did not include involvement in the daily affairs of the PCJ.

    “The actions of Mr Ian Moore, in finalising the one-off transaction with Infinity Bio-Energy, without (a) the authority of the then PCJ Board of Directors, (b) the knowledge of the then minister of energy and (c) the then group managing director, was improper and a blatant bypass of the PCJ’s approval process,” the report stated.

    Harrison’s report, tabled in the House of Representatives yesterday, said Moore’s actions were not in keeping with good corporate governance and were in breach of Section 17(1) of the Public Bodies Management and Accountability Act.

    The section states that “every director and officer of a public body shall, in the exercise of his power and the performance of his duties – (a) act honestly and in good faith in the best interests of the public body; and (b) exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances, including, but not limited to, the general knowledge, skill and experience of the director or officer”.

    Then Energy Minister Clive Mullings fired Moore as chairman of the PCJ’s board for committing the PCJ to “… contractual terms less than favourable to its interest”.

    The report states that there is no evidence to suggest that the Government had obtained value for money in purchasing the shipment of ethanol from Infinity Bio-Energy.

    UNREASONABLE COST

    “This is buttressed by the position of the then minister, Hon Clive Mullings, who indicated that Mr Moore had confirmed the purchase of two shipments at an agreed price above market value. This was also highlighted in the PAAC (Public Administration and Appropriations Committee) chaired by Dr Wykeham McNeill on September 14, 2009. In the meeting, it was indicated by Dr Ruth Potopsingh that the price differential was $0.14 per gallon of ethanol,” the report states.

    It added: “There is no evidence to suggest that any attempt was made to ensure that the cost of the ethanol was reasonable. Moore did not make an effort to consult with anyone regarding the cost of the ethanol. He was also negligent in assuming what the cost would be instead of discussing the actual cost of the ethanol with Infinity Bio-Energy. It was after the issue of cost arose that he began to question whether the emails between him and Infinity Bio-Energy could be considered a contract.”

    Last night, The Gleaner was unable to contact Moore for a response.

    http://jamaica-gleaner.com/gleaner/20141119/lead/lead31.html

    • What action did the minister take after he found out about the screwup of the chairman of the PCJ board and a JLP activists using your own words. Clearing throat. He was fired !

      What actions has the minister with responsibility for NHT taken against the board chairman, a PNP man, nothing.

      Thanks again for pointing us to a article that shows the difference between the PNP and JLP when it comes unto accountability and good governance. 🙂

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