When I heard that the Government was planning to sell its 20 per cent shares in the Jamaica Public Service (JPS) to members of the public, I rejoiced and said that this was a glorious opportunity for the 'small man' to own a part of that strategic national asset.

But since the advent of the world recession that further marginalised the manufacturing export sector and Jamaica, I have had a rethink. Energy, a key component to manufacturing, is a key factor to production and the weekly high cost of petrol, has caused Jamaica's domestic and exported products (including its bauxite and alumina) to be uncompetitive.

reducing the price of energy

My suggestion to the Government is to pledge its 20 per cent holdings in the JPS at a 50 per cent subsidy to the manufacturing export sector energy cost, (until the LNG arrangement with Trinidad gets off the ground) thereby reducing the price of energy. This, more than anything, will definitely boost that sector and help to bring about some sanity with our balance of trade with all our trading partners. It will also bring in more foreign exchange, provide more jobs, and more taxes in the consolidated fund. This by itself is not a panacea to our ills because there is still a high interest rate that still needs to reduce further, along with other factors.

The prime minister has repeatedly stated that we have to work our way out of our problems and not borrow our way out. I now challenge him to put his money where his mouth is as this is what a stimulus package should entail. As a disclaimer, might I add that I am neither an exporter nor a businessman, but rather just a concerned Jamaica who is adding my two cents to the ongoing debate of trying to think our way out of a wet paper bag.

I am, etc.,

MICHAEL JOHNSON

mikesdogma@yahoo.com