Another row is brewing between the Opposition and the Government over the withdrawal of US$15 million ($1.03 billion) from the National Insurance Fund (NIF) to provide a loan to the Norman Manley International Airport (NMIA) Limited.

Opposition Spokesman on Labour, Rudyard Spencer, yesterday warned against the practice by the Government of "dip(ping) into the National Insurance Fund" to finance various projects.

Strong objection

Last year Prime Minister Portia Simpson Miller's decision to withdraw $1 billion from the NIF to on-lend to persons in the small and micro business sector, drew the ire of Opposition Leader Bruce Golding, who raised strong objection to the move.

Information Minister Donald Buchanan reported on Monday that Cabinet had approved the loan to the NMIA Ltd., which had plans to implement a comprehensive capital development programme costing US$139 million ($9.5 billion) to deal with structural difficulties at the airport.

But in an interview with The Gleaner/Power 106 News, Mr. Spencer said the latest withdrawal from the NIF raised serious concerns about the Government's commitment to the workers of Jamaica who have contributed to the scheme.

"The National Insurance Scheme, and by extension the fund, was designed to assist workers with their pension and related matters," he added.

The loan from the NIF will have a fixed percentage rate of 8.5 per cent per annum to be paid every three months over the next three years.

In addition, the principal is to be repaid in 68 quarterly instalments after the first three years.