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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...

More retired legislators will now qualify for benefits following approval of amendments to the Retiring Allowances (Legislative Service) Act on Tuesday, January 29, in the House of Representatives. The amendment provides for service as a parish councillor to be taken into account in determining the qualification of legislators for retiring allowances. Minister of Finance and Planning, Dr. the Hon. Peter...

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...