Unfair slap at UDC directors
THE EDITOR, Sir:
We write in response to an article which appeared in The Gleaner of June 4, 2014, which positions the photographs of two directors of the board under a banner titled 'UDC SHAME'. The story, 'What about setting an example', was carried on subsequent pages.
The headline and subsequent article have unfairly tarnished the image of the Urban Development Corporation (UDC) and its directors. It is noteworthy that while the article mentioned several agencies, some far more extensively than the UDC, yet, the editorial decision was made to single out the UDC under the banner of shame.
It is factual that the last report posted was for the year ended 2010-11. This is because we are awaiting guidance from the Ministry of Finance on how to treat with the assets of one of the many subsidiaries. This is critical to the finalisation of the figures, and hence the non-posting for the financial years ended March 2012 and March 2013. Once a decision has been made by the ministry, compliance will be immediately thereafter. It is, therefore, we believe, less than reasonable to infer an apparent lack of focus by the directors of the UDC in ensuring the corporation's financial accountability.
We are also disappointed that having received a letter from The Gleaner's librarian on Friday, May 30 requesting information of a financial nature on the corporation which we commenced actioning, we were not allowed the opportunity to provide the information requested, which could have provided another perspective. Going to press three working days after seems somewhat hasty.
General Manager, UDC