Cemex funds transfer to JLP still questionable, says PNP after Carib Cement ‘clarification’
KINGSTON, Jamaica — General Secretary of the People’s National Party (PNP), Dr Dayton Campbell, says while he welcomes Caribbean Cement Company Limited’s clarification on its contribution to both major political parties, questions remain about a reported US$201,538 in funds transferred to the Jamaica Labour Party (JLP) by its Mexican-based parent, Cemex.
READ: Carib Cement says ‘contributions’ made to both JLP and PNP, no ‘fees’ paid
“For the record, it was Cemex, not Carib Cement, that filed the document with the United States Securities and Exchange Commission (SEC) showing a payment of US$201,538 to the Jamaica Labour Party, which Cemex categorised as fees. That same filing was later superseded and replaced, and this payment was removed altogether,” said Dr Campbell in a media statement on Friday.
“The PNP has already made it clear that we have no issue with legitimate political donations made in accordance with the law. In fact, for clarity, the PNP has received annual corporate social responsibility donations from Carib Cement, most recently in February of this year. We have not received any payment from Cemex,” he continued.
The general secretary emphasised that the issue is not about political donations, but rather the nature of the funds that was reported.
“Donations are not in question here. What appeared in the Cemex filing was described as a fee. Fees are payments made for services rendered. A global corporation of Cemex’s stature, supported by international accounting and compliance professionals, would not mistakenly categorise a political donation as a fee. They must have had a reason for listing it as such,” he said.
Campbell reiterated his call for the JLP to provide a full and transparent explanation of the US$201,538 received.
“The JLP must come clean with the Jamaican people and the investor community. What service was provided by the JLP to earn this fee? What was this payment in exchange for? These are legitimate questions that demand answers. Until then, speculation will continue, and investor confidence will continue to erode,” he stated.
