Prime Minister, the Most Hon. Andrew Holness, has announced that the Government is moving to provide more assistance to Jamaicans, to help cushion the effects of the rising cost of living.
“In the coming weeks, we will be announcing even further cash transfers to the most vulnerable and the poorest, to ensure that they can survive this difficult time until matters in the geopolitical arena are resolved and some stability can return to our global energy and food markets,” Mr. Holness said.
The Prime Minister was speaking on Wednesday (June 29) at the official launch of Isratech Superstore and Logistics Centre in Manchester.
He pointed out that the entire world is convulsed in great difficulties as it relates to volatility in energy prices and the increased cost of food.
“It is having a generally devastating impact on the economies and societies right across the world. Jamaica is no different and we have not been spared. The impact this has had on persons who are on fixed income, persons who are minimum wage earners… has been significant,” Mr. Holness stated.
“The Government is very much sensitive to this, very much aware of this and we have been making deliberate instrumental efforts to ensure that we are able to transfer cushioning support to those who are vulnerable and in need,” he added.
Mr. Holness noted that the response of countries to the crisis differs, adding that some countries have decided to apply fiscal measures in trying to cushion the increase in prices.
“They have, for example, reduced taxes on fuel and on food items, and some countries can do that without fiscal impact on their revenues. Some countries having done that…they have turned elsewhere and increased taxes,” he said.
The Prime Minister argued that present circumstances provide an opportunity for persons to take advantage of the “frustrated masses”, but he urged Jamaicans “to reflect carefully on our current situation and to acknowledge that this is not the making of the Government”.
Mr. Holness said if the Government acts without caution, the situation could worsen.
“The approach of the Government is one that seeks to ensure that our economy can withstand the shocks and, so far, the Jamaican economy, under my administration, has withstood several shocks and has withstood them very well. I understand the mood of the country, I understand how the minimum wage earner is feeling, I understand how people feel when they see their electricity bill and how upset they must be. But this, too, will pass,” the Prime Minister added.
Isratech Jamaica Limited, headquartered in Shooter’s Hill, Manchester, opened a second location, a superstore specialising in infrastructure that will also act as a logistics centre for the distribution of their online orders from across the Caribbean.
The 10,000-square-foot store, including the logistics centre, was completed in less than 12 months.
Since 1985, Isratech has steadily built an impressive platform of products and services for applications in the agricultural, water and energy sectors.
Through their three divisions – Jamaica Drip Irrigation, Isratech Waterworks and Isratech Energy Solutions – they offer a broad scope of value for agricultural, municipal, industrial, commercial and residential purposes.
