Jamaica’s Bauxite export curtails due to “Corona-virus” attack
Dr Peter Phillips, President of the People’s National Party of Jamaica, has called on Governor-General, Sir Patrick Allen, to declare a national day of prayer as Jamaica battles the Corona-Virus.
During the budget session in parliament on 17th March’20, Phillips made the call after briefing a raft of suggestions to address the anticipated COVID-19 fallout
Dr Peter also stated apart from the possibly devastating impact of the physical health of Jamaicans, the economic effects must be considered.
Jamaican island has already begun to see the impact in the main productive sectors, mainly Bauxite and tourism. As the cargo, stop-over, and cruise shipping numbers have been hugely affected.
The demand for bauxite and alumina has already been curtailed and bauxite prices continue to fall due to the epidemic Coronavirus.
The opposition leader of Jamaica Dr Phillips said: “port operations have been and will be further affected as they are currently on a downward trajectory.”
Phillips criticized the finance minister for shifting blame to the bauxite industry for the slowing down of the economy. He was referring to shut down of the Chinese-owned JISCO operations in St Elizabeth for upgrading the plant. The factory is expected to be closed for at least two years.
The signals of decline across multiple sectors are to be characterized as a perfect heat of a deep economic recession given towards the frame of Jamaica’s economy.
He concluded by saying “Our small and medium-sized companies, our workers and their families will be most harshly affected by the economic disruptions caused by the global pandemic. If we are to prevent a lasting fall-out which will cripple the economy even after the immediate health crisis has passed, we need to immediately consider and implement an extensive set of fiscal and monetary responses.”
source: ALCIRCLE.COM
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