I don't believe that the market value of one's assets is the best figure to use when officials are looking at what was earned and what was spent over a period. I refer to work that is done by the Integrity Commission when they are checking to see if public officials have obtained their wealth illegally.. What you need is the real cost of the assests purchased so it would be easier to ascertain if such assets were purchased from savings and/or earnings or if such assets were obtained illegally.
The fact that the market value of a house is JAD200 million does not mean that you acquired a house at the cost of JAD200 million.
For example, if I earned JAD10 annually and I purchased a house for cash for JAD4 million then one could assume that I would have been able to afford that house in one year. On the other hand, if I purchased the house for cash for JAD40 million dollars, then one would expect to see my bank balance of the previous year showing a balance of close to JAD40 million. If my bank balance is not close to that then it means that I would have needed a loan in order to purchase that house.
I am concerned that this Integrity Commission which is a good idea is fast becoming embroiled in political controversy and this will absure the real role of the Integrity Commission. The role of the Commission should not be to find out if you are rich or not nor what is the market value of your assets, but to see what you have earned, what you have spent and if everything has been done above board.
If we don't educate the public properly about the role of the Integrity Commission then it will become a political beating board and matters relating to the the Commission will become political fodder especially during elections.
Bark Di Trute, the blog for Jamaicans at home and abroad. See more options by changing to Web View on your phone or accessing the site on your computer at https://vderby.blogspot.com. Bark Di Trute welcomes your financial support and material submitted for publication. I host SpotOn With Vernon Derby on Omega Radio at 89.1, 89.3, 89.5, 89.7 and 89.9 FM, Monday to Friday, 1300 to 1400 hours EST.
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