In the News

In the News



Gov't to address NETSERV issue today

Observer Reporter
Tuesday, November 13, 2001

THE Government is expected to respond today in Parliament to charges by Audley Shaw, Opposition spokesman on finance, that NETSERV, an Information Technology (IT) firm, which received $180 million in soft loans from the administration, was on the verge of closure.

"Mr Shaw asked the Prime Minister questions about NETSERV in Parliament and he should await the response there," a spokesman for the Ministry of Industry, Commerce and Technology told the Observer yesterday.

Phillip Paulwell, the technology minister, was said to be in meetings yesterday with persons, including Rex James, the president of the National Investment Bank of Jamaica, who processed the IT investment application on behalf of government.

Shaw had issued a news release at the weekend criticising the P J Patterson administration for granting the IT firm resources from the Information Technology (INTECH) Fund before ascertaining its financial stability and the feasibility of plans to generate 10,000 jobs over time.

Shaw claimed that NETSERV was "on the verge of closure, employing less than 200 persons (and) failing to meet its payroll obligations" last week and the week before. He also said that the firm was notified to quit the premises at the Mutual Life building in New Kingston due to its "failure to pay rent".