$296 Million for Modernisation Programme in Finance Ministry

A capital provision of $294.6 million has been made to the Fiscal and Administration Modernisation Programme of the Ministry of Finance, Planning and the Public Service for the 2012/13 financial year.

According to the Estimates of Expenditure tabled in the House on May 10, the funds originate from an Inter-American Development Bank loan originally programmed for the period December, 2011 to March, 2014.  

The allocation allows for Jamaica Customs to spend $91 million; Tax Administration Jamaica $71 million; Debt Management System $17.6 million and the Central Treasury Management System some $60 million.

During the financial year, Tax Administration Jamaica will undertake the expansion/upgrading of the Donald Sangster Building in Kingston as well as the Montego Bay and St. Ann collectorates and the Inland Revenue Department in Downtown Kingston, at a total cost of $71 million.

Jamaica Customs will utilise the funds to upgrade its information communications technology infrastructure, as well as to commence the implementation of the agency’s full electronic Commercial Importer Data/Capture System.   

With respect to the Central Treasury Management System/Treasury Single Account/Integrated Financial Management Information System (CTMS/TSA/IFMIS), $60 million has been allocated to advance the system’s institutional capability and the legal, regulatory framework and related procedures governing its operations.

By Allan Brooks, JIS Senior Reporter