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The Deposit Insurance Fund had a balance of $9.24 billion as at March 2012, an increase of $1.3 billion or 17.19 per cent above the $7. 89 billion of the previous year. This is according to the 2011/2012 annual report of the Jamaica Deposit Insurance Corporation (JDIC), which was tabled by Finance and Planning Minister, Dr. Peter Phillips on Tuesday,...

Minister without portfolio with responsibility for the Public Service, Hon. Horace Dalley says that the groundwork to reform the public sector pension scheme has already begun. Minister Dalley says the reform process is expected to yield a pension system that is more affordable for the Government, sustainable, and provides reasonably adequate retirement benefits. Minister Dalley was speaking on the topic:...

Prime Minister Portia Simpson Miller says that the Government has embarked on the implementation of a framework for public-private partnership as a strategy for mobilizing investments for needed infrastructure projects such as roads and bridges, rail network, ports, factory space, housing and other supporting facilities. Delivering the keynote address at the Jamaica Stock Exchange’s 8th Regional Conference on Investments and...

The Government of Jamaica is looking at instituting a deposit financing scheme to provide short-term loans for homebuyers who are unable to come up with the down payment required to purchase a home. Making the disclosure at a recent Jamaica Information Service (JIS) Think Tank, Minister of Transport, Works and Housing, Dr. the Hon. Morais Guy, explained that the proposal...

An information exposition hosted by the Jamaica Customs Department will be held on Saturday, January 26, at the Chinese Benevolent Association (CBA), Old Hope Road, Kingston. The event, from 10:00 a.m. to 5:00 p.m., culminates a week of activities to observe Customs Week 2013 from January 20 to 26, under the theme: ‘Innovation for Customs Progress’. Speaking at a Jamaica...

The Customs Department is reporting revenue collection of $92.61 billion for the period April to December 2012. The amount, while an increase of $9.37 billion or 11 per cent over the same period last year, was a shortfall of $1.15 billion or 1 per cent against the target of $93.77 billion. “We are one per cent behind our year-to-date target...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, is anticipating further strengthening of Inter-American Development Bank (IDB) programmes that target key developmental issues affecting Caribbean countries, including Jamaica. Speaking at the second annual meeting of Central Bank Governors of the IDB Caribbean Country Department’s member states, at the Jamaica Pegasus Hotel, New Kingston, on January 17, Dr. Phillips noted...

Jamaicans have more time to register their votes for the entities and individuals of their choice delivering the best customer service. The new deadline for receipt of all nominations in the Public Sector Customer Service Competition has been extended from January 31 to February 28. All submissions must be made by 4:00 p.m. on the new date. Vote for the...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says the Inter-American Development Bank (IDB) remains a major source of funding for Caribbean countries. Speaking at the opening of the second annual meeting of Central Bank Governors of the IDB Caribbean Country Department’s member states, at the Jamaica Pegasus Hotel, New Kingston, on Thursday (January 17), Dr. Phillips pointed out...

A meeting of the Central Bank Governors of the Caribbean Country Department is now underway at the Jamaica Pegasus Hotel in New Kingston. President of the Inter-American Development Bank (IDB), Luis Alberto Moreno, who arrived in the island last night (Jan. 16), heads the list of dignitaries attending the two-day discussion session. He was met at the Norman International Airport...

With two months remaining to the March 15 income tax filing deadline, Tax Administration Jamaica (TAJ) is reminding all companies, organisations, self-employed persons, including professionals and entertainers, as well as employed persons with additional sources of income that preparations should be underway for them to file their Final Income Tax Return for 2012 and a Declaration of Estimated Income and...

The discretionary power of the Minister of Finance to grant waivers will soon be restricted. Finance and Planning Minister, Dr. the Hon. Peter Phillips, told a special post Cabinet retreat press briefing at the Office of the Prime Minister, on Monday (January 14), that a comprehensive review of the discretionary power of the Minister of Finance to grant waivers has...