'Financial paper' as raw material
published: Tuesday | May 27, 2003
THE EDITOR, Sir:
I READ with great interest your editorial of May 23, referring to "Private Sector Schism" and did agree with most of what was said. I fully support (and am sure most of the JMA membership agrees) Mr. John Issa's view that Government has a moral obligation to collect first from those visibly evading tax before adding more taxes on an already over-burdened productive sector.
I am not sure what you call 'screw driver' type enterprises. Japan, Taiwan, Singapore, etc., countries without natural resources, import nearly all of their raw materials - yet compete most effectively with the rest of the world.
The only difference between my small manufacturing concern and that of Seprod and Carreras (not Jamaica Broilers, an exceptional agro industry) is the large local raw material of "FINANCIAL PAPER" that contributes largely to their profit line! Check where all the well known Seprod household products, are now being produced; also, check why Rothmans cigarettes are no longer being produced here in Jamaica by Carreras.
Very soon, many of our "large" manufacturers will become financial institutions.
