Phillip Paulwell, Opposition Spokesman on Mining - file photo
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Phillip Paulwell
Declaring that the Government was giving up revenue in a bad deal with New Day Aluminium Jamaica, Phillip Paulwell, Opposition Spokesman on Mining, is demanding a probe into the contract.
Mr. Paulwell told the House of Representatives Tuesday afternoon that he will be writing to the chairman of Parliament's Public Administration and Appropriations Committee (PAAC) for that body to look into the contract.
Mr. Paulwell is taking issue with the government's decision to enter a profit share agreement with New Day rather than impose the bauxite levy.
He argued that the government is already losing revenue through the profit-share agreement in place in relation to the operations of Noranda Bauxite Company.
He argued that, to date, the government has collected a total of US$13.25 million under the profit share agreement. However, if Jamaica had been abiding by the bauxite levy for the period from the end of 2016 to now, using an average $7 per ton, the country would have collected US$38.5 million - which is US$25.25 million or J$3.4 billion more.
The latest agreement was signed with New Day on September 6.
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