Minister without Portfolio in the Finance and the Public Service Ministry, Hon. Fayval Williams, says the Government has “put in motion and is far along with the analytic work” that will guide the eventual establishment of a policy framework for disaster risk financing ahead of a disaster. “Local and international stakeholders will be consulted. It will be based on the...

Opposition Spokesman on Finance, Mark Golding, has welcomed the Bill to amend the Public Procurement Act, which, he said, will serve to enhance the associated processes involved in the system. “We support the thrust of this legislation and any attempts to improve it, and we also hope that as it is rolled out, the training to support it will be...

Cabinet has approved the establishment of an independent fiscal council as part of measures to strengthen Jamaica’s Fiscal Responsibility Framework. The move is consistent with plans by the Government to secure Jamaica’s gains under successive economic reform programmes with the International Monetary Fund and build on the success of domestic partnership initiatives. Fiscal councils are permanent, independent, non-partisan institutions that...

Minister without Portfolio in the Ministry of Finance and the Public Service, Hon. Fayval Williams, is attributing Jamaica’s improved ranking in the Global Competitiveness Report to the dedication and commitment of public-sector employees. Jamaica is now ranked 70th out of 137 countries, moving from number 86 some 10 years ago. The World Economic Forum introduced the Global Competitiveness Report in...

Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, says the Government will be implementing improvements through the Financial Inclusion Strategy (FIS) to widen access to financial products and services for vulnerable persons. He said measures will also be put in place to enable micro, small and medium-sized enterprises to access capital with the aim of laying the...

Five of the teams that participated in this year’s renewal of the Development Bank of Jamaica’s (DBJ) National Business Model Competition (NBMC) for tertiary institutions will represent the country in the 2018 International Business Model Competition (IBMC) in Utah, USA, from May 10 to 11. Heading the record list of entrants is University of the West Indies (UWI) Mona Campus-based...

The House of Representatives on Tuesday (May 1) approved the Customs Tariff (Revision) (Amendment) Resolution 2018. The Resolution repeals and replaces the first and fourth schedules to the Customs Tariff (Resolution), 1972 to accord with the World Customs Organization’s Harmonised System of classification of goods, which will assist customs administrators to monitor and control the importation and trade in goods,...