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Jamaicans are to benefit from a reduction in the General Consumption Tax (GCT), from 17.5 per cent to 16.5 per cent, which will result in a lowering of prices on consumer goods and services, which currently attract GCT. "This is the first in a number of steps that will be taken to reduce the standard rate over the medium term,"...

Some 24 experts in the local financial sector have been awarded post-graduate certification in financial services management, following their completion of a 14-month course via the Jamaica Stock Exchange (JSE) e-Learning Campus. The course, which lasted from September 2010 to November 2011, covers a range of topics in the field of financial services, including risk management, global capital markets and...

President, Guardian Life Limited, Eric Hosin paints a section of the Promise Learning Centre located on  Hagley Park Road, Kingston 10 on May 23 during Labour Day activities at the school. The centre was given a facelift, including ceiling repair and landscaping work at a cost of approximately $1. 2 million. Approximately 130 Guardian Life employees volunteered for the project....

In support of its objective to complete preparation of a new Medium Term Social Economic Policy Framework (MTF), as well as the development of an integrated planning, monitoring and evaluation framework, the Planning Institute of Jamaica (PIOJ) has been allocated $66.32 million in the 2012/13 financial year. This is reflected in the Estimates of Expenditure tabled in the House by...

The recently tabled Estimates of Expenditure 2012/13 contain some $63 million for the implementation of the Electronic Government Procurement system in Jamaica. The implementing agency is the Ministry of Finance, Planning and the Public Service. The objective of the project is to strengthen the efficiency and quality of public procurement in Jamaica, through the development of an electronic government system...

A capital provision of $294.6 million has been made to the Fiscal and Administration Modernisation Programme of the Ministry of Finance, Planning and the Public Service for the 2012/13 financial year. According to the Estimates of Expenditure tabled in the House on May 10, the funds originate from an Inter-American Development Bank loan originally programmed for the period December, 2011...

A sum of $132 million has been earmarked to continue implementation of the Community-Based Landslide Risk Management project. This is contained in the 2012/2013 Estimates of Expenditure, which was tabled by Minister of Finance, Planning and Public Service, Hon. Dr. Peter Phillips on May 10, in the House of Representatives. The project is being implemented by the Office of Disaster...

The gross reserves at the Bank of Jamaica (BoJ), at the end of March 2012, amounted to just over US$2.6 billion, representing some 17 weeks of projected goods and services imports. This was stated by Governor of the Bank of Jamaica, Brian Wynter, during his presentation of the Bank’s Monetary Policy Report for the January to March 2012 quarter. The...

The Bank of Jamaica is projecting that headline inflation will be within the range of 6.0 per cent to 8.0 per cent for 2012/13 financial year, largely similar to the previous fiscal year’s out-turn. This was disclosed by Governor of the Bank of Jamaica (BoJ), Brian Wynter, during his presentation of the Central Bank’s report for the January to March,...

The Government has put forward a budget of $612.4 billion for 2012/13, with $375 billion earmarked for Recurrent (house-keeping) expenses and $237.4 billion for Capital (development) obligations. Details of these projections are included in the Estimates of Expenditure, which were tabled in the House of Representatives on Thursday May 10th by Minister of Finance, Planning and Public Service, Hon. Dr....

Tight expenditure controls, hinged on a firm Tax Reform Programme, will be the hallmark of the government’s fiscal policy as it commences the 2012-2013 financial year. Governor-General, His Excellency, the Most Hon. Sir Patrick Allen, in delivering the Throne Speech on May 10th at the State Opening of Parliament. In his speech entitled, ‘Nation on a Mission’, which outlined the...

A panel discussion and exposition, aimed at sensitising Jamaicans about the role of special libraries in the island, will be held Friday (April 27), at the Planning Institute of Jamaica’s (PIOJ) Oxford Road offices in Kingston. The events, under the theme: ‘Libraries Contributing to National Development’ are organised by the Special Libraries Section of the Library and Information Association of...