More controversy is expected Wednesday regarding
allegations of ‘sweetheart' deals granted to the investment banking firm
Dehring, Bunting and Golding (DB&G) by the former People's National Party
administration.
Despite a denial from former DB&G Head and Opposition Member of Parliament for Central Manchester, Peter Bunting that the firm was given two deals under extremely favourable terms there is indication that the matter is far from over.
In a statement to Parliament on Tuesday, Mr. Bunting said there was no truth to allegations made last month by Finance Minister Audley Shaw of ‘sweetheart' deals.
Bunting is the current General Secretary of the Opposition PNP.
The term ‘sweetheart' deal is used to describe an extremely favourable contractual arrangement which is normally considered unethical.
Mr. Bunting accused Mr. Shaw of misleading Parliament and requested that he withdraw the statement.
But at the end of Mr. Bunting's statement Mr. Shaw rose and announced that he had more information which he intends to disclose.
The Finance Minister said all will be revealed when he issues a statement to Parliament Wednesday afternoon.
"I propose to make a statement to Parliament after which time you can determine who has misled the House and who will be subject to sanctions."
During his closing Budget Presentation last month Mr. Shaw said the country had lost $100 million under the DB&G deal which involved the sale of FINSAC bad debts to Jamaica Redevelopment Foundation.
Mr. Bunting said the transaction never took place.
Despite a denial from former DB&G Head and Opposition Member of Parliament for Central Manchester, Peter Bunting that the firm was given two deals under extremely favourable terms there is indication that the matter is far from over.
In a statement to Parliament on Tuesday, Mr. Bunting said there was no truth to allegations made last month by Finance Minister Audley Shaw of ‘sweetheart' deals.
Bunting is the current General Secretary of the Opposition PNP.
The term ‘sweetheart' deal is used to describe an extremely favourable contractual arrangement which is normally considered unethical.
Mr. Bunting accused Mr. Shaw of misleading Parliament and requested that he withdraw the statement.
But at the end of Mr. Bunting's statement Mr. Shaw rose and announced that he had more information which he intends to disclose.
The Finance Minister said all will be revealed when he issues a statement to Parliament Wednesday afternoon.
"I propose to make a statement to Parliament after which time you can determine who has misled the House and who will be subject to sanctions."
During his closing Budget Presentation last month Mr. Shaw said the country had lost $100 million under the DB&G deal which involved the sale of FINSAC bad debts to Jamaica Redevelopment Foundation.
Mr. Bunting said the transaction never took place.
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