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Pan-Jamaican Investment Trust Limited (PanJam) which had partnered with the Downing Street Group, says it welcomes the call for an independent investigation in the sale of the Oceana Hotel building in downtown, Kingston.
In a statement on Wednesday, PanJam declared that it rejects any suggestion of improper conduct and that all procurement guidelines were followed.
During his closing budget presentation last week, Finance Minister Audley Shaw queried whether the transaction amounted to a “sweetheart deal".
The Private Sector Organisation of Jamaica (PSOJ), also on Wednesday, said public officials should be mindful of the negative impact such comments can have on Jamaica's growth prospects.
The private sector body said Mr. Shaw's utterances may be perceived to be directed at questioning the motive of the private investors in the transaction.
Mr. Shaw also asked why the Oceana Hotel was not sold to the Accountant General's Office for one dollar to facilitate the expenditure of the $400 million on repairs to the facility.
Senator K.D. Knight, the UDC's former Chairman, in a strong rebuttal in the Senate on Tuesday, said he did not appreciate the comments and, as head of the Corporation's board at the time, he would not have carry out what he characterised as fiscally irresponsible activities.
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