Sat | Feb 24, 2018

Offer market insurance to vendors

Published:Saturday | May 7, 2016 | 12:00 AM

Offer market insurance to vendors


This is an open letter to Local Government Minister Desmond McKenzie.

As a Jamaican who staunchly believes that one must be self-reliant, I am tired of seeing our vendors' goods burnt to the ground as our markets get destroyed by fire.

I couldn't help but hear you say in your recent Public Accounts Committee meeting in Parliament that the markets are insured but not the vendors' goods. This is very unfortunate.

In your party's quest to move forward to prosperity, I am suggesting that this administration implement a tiered insurance plan for these entrepreneurs. Perhaps starting at $100,0000-$250,000, the monthly premium could be included in their market fees.

Look at what was implemented for the banking sector (JDIC). At least the public can look for compensation if there is a collapse. Your office could replicate same.

These entrepreneurs have a responsibility to safeguard their investment, too, rather than seeking handouts when disaster strikes. By proper sensitisation, I am sure they will see the benefits.

They could be insured against natural disaster, theft and fire. Even if the payout was not a large amount, it could help them to rebuild their livelihoods.

Think about it, Mr McKenzie: Teach us to fish as opposed to always giving us a fish.