A group of 11 organisations — ranging from bankers to church groups and led by the Private Sector Organisation of Jamaica (PSOJ) — have come together to press the Government and the Opposition to commit themselves to responsible fiscal management as an election nears.

Citing five principles of good governance to which they want political leaders to adhere, both before and right after the election, the coalition said at a press conference called in Kingston yesterday that they are seeking to preserve the gains which have been made under the current economic reform programme and thereby lay the groundwork for economic growth and social stability.

The five principles prescribed are fiscal responsibility, price stability, the creation of a social safety net, public private partnerships, and policies to support the ease of doing business.

Outlined in a letter addressed to Prime Minster Portia Simpson Miller and Opposition Leader Andrew Holness, the request for commitment is signed by leaders of the PSOJ, Jamaica Chamber of Commerce, Jamaica Manufacturers’ Association, Jamaica Exporters’ Association, Small Business Association of Jamaica, MSME Alliance, The Caribbean Policy Research Institute (CaPri), Jamaica Bankers Association, Jamaica Civil Society Coalition, and Jamaica Council of Churches.

The coalition is also demanding more private sector involvement in governance in the form of oversight committees.

They are seeking, group members said, to avoid returning to conditions under which the Jamaican national debt climbed past 140 per cent of gross domestic product (GDP), leaving little room for spending on development.

The country’s debt-to-GDP ratio is expected to decline to 130.7 per cent of GDP by March 2016.

The letter reads, “The private sector and civil society are conscious of the fact that elections are likely to be called very soon, or at the very least by the end of 2016, when constitutionally due. We are also fully aware that historically, leading up to and immediately after the election, the country has been subject to irresponsible fiscal management in an effort to secure votes or deliver on election promises — which many times as a country we cannot afford.”

The letter called on the leaders to note the sacrifice made in the last three years under reform programmes leading to gains “evidenced by greater macroeconomic stability and culminating just recently in the relaxation of the primary surplus target”.

The coalition stated that, in spite of such gains, much work still needs to be done so that we can finally see economic growth and social development that will drive the country forward.

The groups said that gains achieved have also been facilitated by “a more inclusive approach to governance; partnerships between government and themselves manifested in the Economic Policy Oversight Committee, the Energy Sector Enterprise team, Partnership for Jamaica, and a recently announced Rule of Law Committee.

The coalition, by way of the letter, called on leaders of the two political parties to commit to the five principles of good governance as outlined, stating, “The commitment will go far to assuring all Jamaicans that the sacrifices that we have made will not be in vain and we can look forward to a better Jamaica.”

Chair of the press conference called to publicise the call, economist and CaPRI representative Damien King, said “We would like any candidate for future public administration to give unwavering commitment.”

Metry Seaga, president of the Jamaica Manufacturers’ Association, said in his address that the essence of what the group sought was “good governance and transparency. As Jamaicans we are sick to death of tribal politics costing us what we don’t have… we as civil society… we will hold their feet to the fire”, he said, promising to bring pressure to bear on the political groups targeted.