Cabinet has Approved Privatisation of Government Assets
By: , January 30, 2016The Key Point:
The Facts
- Dr. Phillips was speaking in the House of Representatives on January 26.
- This, as the Government has recognised its value as an indicator of public sentiment and an effective mechanism for broadening ownership.
The Full Story
Finance and Planning Minister, Dr. the Hon. Peter Phillips, says Cabinet has approved the privatisation of a number of Government of Jamaica assets.
These include various levels of shareholdings in Wigton Wind Farm, Jamaica Public Service Company Limited, Seprod Limited, Factories Corporation of Jamaica, Petrojam, Ethanol Jamaica and Things Jamaica Limited.
Dr. Phillips was speaking in the House of Representatives on January 26.
He informed that Cabinet has given approval to include the Jamaica Stock Exchange (JSE) and the Junior Market “as modalities in its privatisation programme.”
This, as the Government has recognised its value as an indicator of public sentiment and an effective mechanism for broadening ownership.
“We are working with the Jamaica Stock Exchange to list Government securities on the JSE as a means of not only increasing levels of transparency in trading securities, but also as a means of simulating the growth of a secondary market in Government-issued paper,” he told the House.