The Petroleum (Amendment) Act, 2019, which seeks to transfer the rights and obligations of the PetroCaribe Development Fund (PDF) to the Government of Jamaica, was passed in the Senate on Friday (July 5). Under the amendments, the PDF’s functions and a small amount of liabilities will be integrated into the Ministry of Finance and Public Service, and the Fund, as...

Persons who invest in the purchase and renovation of industrial buildings or structures for the purposes of trade are eligible for a 20 per cent allowance on the capital expenditure. This is outlined in the Income Tax (Amendment) Act, 2019, which was approved by the Senate recently. The Bill also gives approval to the increase in the personal income tax...

The debate on the Petroleum (Amendment) Act, 2019, which opened in the Senate during Friday’s (June 28) sitting at Gordon House, has been deferred for completion at a later date. It seeks to, among other things, transfer the rights and obligations of the PetroCaribe Development Fund (PDF) to the Government of Jamaica. Minister without Portfolio in the Ministry of Economic...

Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Senator the Hon. Pearnel Charles Jr., says the Government is looking to identify permanent solutions to the water challenges facing some communities. “What we need to be doing as a country is moving to a place where we have control of our water sources and we are able...

The Senate, on Friday (June 28), approved the Public Procurement (Registration and Classification of Suppliers) Regulations, 2019. Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Senator the Hon. Pearnel Charles Jr., who piloted the Regulations, said that they are critical to the operationalisation of the reformed public procurement landscape. He said the measures will fully enable...

The Bank of Jamaica (BOJ) has announced that it is maintaining the policy rate offered on overnight balances from deposit-taking institutions at 0.75 per cent, effective June 28, 2019. In a statement on Thursday (June 27), the Central Bank said this is based on its latest assessment that monetary conditions are appropriate to support the achievement of the inflation target...

Jamaica is among five countries chosen by the World Food Programme (WFP) to serve as a model for the Caribbean in disaster response coordination. The others are Belize, Dominica, Guyana, and St. Lucia. WFP Head of Office for Barbados, Regis Chapman, made the disclosure while addressing the Shock-Responsive Social Protection in the Caribbean Regional Symposium in Providenciales, Turks and Caicos...