JUTC Drives Deeper Into Trouble

The financial troubles of the Jamaica Urban Transit Company (JUTC) continue with revenues falling well short of projection, up to the end of August.

A senior financial manager at the JUTC told the Public Administration and Appropriations Committee PAAC Tuesday, that revenues up to the end of August were nearly $400 million behind projections.

Marcia Hamilton told the committee, led by Opposition member Wykeham McNeill, that budget projection was for revenues of $2.15 billion at the end of August. However, realized revenues for the Government-run bus company were $1.82 billion or nearly 16 % behind projections.

McNeill said that given earlier statements of the bus company coming off  Government budget, the latest revelations were “very troubling.”

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