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Use money from bond sale to create jobs, says EPOC Co-Chair

Published:Thursday | July 30, 2015 | 4:28 PM

Co-Chairman of the Economic Programme Oversight Committee (EPOC), Richard Byles, says the excess money raised recently by the Government on the international markets should be used to implement major job creation projects.

The Government recently raised US$2 billion of which US$1.5 billion will be used to retire some of the country’s PetroCaribe debt.

Byles says the remaining US$500 million should go towards setting up a US$1 billion fund to finance projects in high growth sectors.

Byles is challenging the private sector to match the Government’s contribution if such a fund is set up.

The EPOC co-chair is suggesting the money be used to create jobs in the business process outsourcing and agricultural sector.

Byles made the suggestion as he addressed the launch of the Montego Bay Chamber of Commerce and Industry’s 16th ‘Mobay Expo’ yesterday.