$8-Billion Contingency For New Projects Under Public Investment Management System

An $8-billion contingency provision has been earmarked for new projects being initiated under the Public Investment Management System (PIMS) during the new fiscal year.

The sum is contained in the 2021/22 Estimates of Expenditure, now before the House of Representatives.

Contingency provisions are allocated to support new projects that are approved for implementation under PIMS, which was rolled out in April 2017 but are not yet listed on the Budget.

It is anticipated that the sum earmarked for 2021/22 will undergird those engagements not receiving Cabinet approval at the tabling of the Budget for the upcoming year.

The Ministry of Finance and the Public Service is implementing the Government of Jamaica-funded project, which is slated to conclude in March 2022.