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The first Supplementary Estimates of Expenditure for fiscal year 2012/2013 was approved by the House of Representatives, yesterday (February 12). The estimates were tabled in the House by Minister of Finance and Planning, Dr. the Hon. Peter Phillips, on February 5. For the fiscal year, the budget has been revised downwards from $612.4 billion to $602 billion, a reduction of...

The Government is seeking to raise an additional $15.9 billion in revenue over the 2013/2014 fiscal year. The tax package was announced by Minister of Finance and Planning, Dr. the Hon. Peter Phillips yesterday (February 12), during the debate on the first Supplementary Estimates for the fiscal year, in the House of Representatives. Dr. Phillips noted that the tax package...

The Government is pursuing investment projects aimed at improving incomes and employment opportunities across several sectors. Speaking during a broadcast to the nation on February 11, Minister of Finance and Planning, Dr. the Hon. Peter Phillips said among the initiatives is the major expansion of the port facilities to exploit the country’s geographic advantage in the post-PANAMAX context. “This expansion...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says he will announce in Parliament, some of the concrete steps that are to be taken to reduce and virtually eliminate discretionary tax waivers. He was speaking on Monday night, February 11, during a joint national broadcast to the nation with Prime Minister, the Most Hon. Portia Simpson Miller. The move,...

Minister of Finance and Planning, Dr. the Hon. Peter Phillips, says the Government will be implementing several measures aimed at ensuring that the objectives of the Economic Reform Programme are achieved. “First, we shall be establishing, by the end of March 2013, a coordinating and implementing unit in the Ministry of Finance, staffed with persons recruited from outside and within...

As part of a pre-requisite to signing an agreement with the International Monetary Fund (IMF), the Government will be undertaking a National Debt Exchange Offer aimed at reducing the country’s debt stock. This was disclosed by Prime Minister, the Most Hon. Portia Simpson Miller, during a joint broadcast to the nation on Monday night, February 11, with Minister of Finance...

Cabinet has approved the award of a three-year security service contract to King Alarm Limited, for the Ministry of Finance and Planning’s Heroes’ Circle and Shalimar Avenue locations. The $76.1 million contract will cover two years, while the third year of the agreement is being negotiated. Meanwhile, Cabinet has also approved the award of a contract to Sharecon Construction Limited...

The 2013 staging of the Public Sector Leadership Development Conference, organised by the Management Institute for National Development (MIND), will be held on March 7 at the Knutsford Court Hotel, New Kingston, starting at 8:30 a.m. Under the theme: ‘Leadership in Action: Supporting the Vision, EnGENDERing Transformation’, the event will address public sector leadership, including strategies to foster a leadership...

Minister with responsibility for Information, Senator, the Hon. Sandrea Falconer, says that Cabinet has received an update on the visit of the International Monetary Fund (IMF) staff mission to Jamaica. The team, which arrived in the island on Tuesday, February 5, is in Jamaica for further talks towards concluding a new agreement with the Government. The team, which departs on...

The first Supplementary Estimates of Expenditure for fiscal year 2012/2013 was tabled in the House of Representatives on Tuesday, February 5, by Minister of Finance and Planning, Dr. the Hon. Peter Phillips. It reveals that the budget has been revised downwards from $612.4 billion to $602 billion, a reduction of $9.89 billion. The Estimates show a decrease in the recurrent,...

Commissioner of Customs, Major Richard Reese, says the department has been making every effort to provide quality customer service to its clients. He said that measures have been put in place to enhance efficiency and service delivery.  Major Reese, who was addressing a recent Jamaica Information Service (JIS) Think Tank, said he was particularly pleased at the speed with which...

Minister of Finance and Planning, Dr. the Hon. Peter Phillips says the economy will achieve significant growth in the near future, given huge investments in infrastructural development as well as in agriculture, tourism and other sectors. Addressing a Social Development Commission (SDC) parish forum, held on January 31, at St. Hilda’s High School, in Brown’s Town, St. Ann, Dr. Phillips...