Ten companies across various industries have been named as recipients of the COVID-19 relief programme provided by the Factories Corporation of Jamaica (FCJ).

The company, in a release this week, said that all 10 companies approved are within the manufacturing, agro-processing and distribution sectors. The company said that since the announcement was made earlier this month some 35 companies had applied, enticed by the prospect of securing relief packages for the businesses of clients that were severely impacted by the coronavirus (COVID-19) pandemic — especially those in the productive sector.

The industrial real estate provider said that of its 109 clients, 32 per cent sought assistance under the relief programme.

“The bulk of the applicants, 47 per cent, were in the manufacturing sector, 35 per cent of the applicants were in the distributive trade, 12 per cent from the service sector and six per cent in the agro-processing industry,” the FCJ outlined in a report on their website.

“With 10 companies now approved for the relief programme, FCJ is in the process of reviewing and approving the eligibility and the amount that will be granted to each client. Based on the number of applications received to date, FCJ will be granting clients moratorium on a monthly basis with a review each month for the period April- June.

“This has become necessary in order for all clients requesting assistance to be able to get some form of assistance. FCJ’s monthly rental payments are due on May 1. The corporation will ensure that the application review process will be concluded before May 1 so that the approved amount for each client will be noted to their account,” the release outlined.

The relief package, which is valued at $30 million, will provide businesses with non-increases to rental and maintenance payments for the next six months as at April 1- September 30. A three-month moratorium on rent will also be offered for companies that have experienced significant decline in business, conditional rent payment holidays for clients on existing payment plans with the FCJ also allowing for faster formulation of payment plan arrangements for clients not on an existing scheme.

“These fiscal measures are geared towards balancing the concerns of existing clients, while maintaining FCJ’s fiscal prudence. FCJ will continue to engage with our clients to assess the status of their businesses,” the entity stated.

PRODUCTIVE SECTOR BENEFIT

The Jamaica Manufacturers and Exporters Association (JMEA) said that it was something that they lobbied for on viewing the changing circumstances brought on by the pandemic.

“The JMEA anticipated that the crisis would have been horrible for many of our members, especially the MSMEs, and started making early representation to Government on areas of support to cushion the fallout,” said Richard Pandohie, JMEA president, while speaking to the Jamaica Observer this week.

He cited the moratorium on rent from the FCJ as some of the successes from measures advocated by the entity in assisting members. Others included reduction in export fees and the elimination of special consumption tax on locally produced alcohol— which allowed local companies to purchase from our rum companies to produce sanitisers.

“Our members are very appreciative of thiss support from the Government of Jamaica. Our focus is now not only on surviving COVID but creating a strategic and sustainable growth plan for our members.”

— KELLARAY MILES