Bank of Jamaica (BOJ) Governor, Richard Byles, is reaffirming that the institution can effectively execute the new responsibilities that it will be assigned under the proposed Twin Peaks regulatory model for the financial sector.     He said that the new duties will not “stretch us to the point where we can’t pay attention to our duties at the BOJ”.  Under the...

Minister of Justice, Hon. Delroy Chuck, says funds have been provided for improvement works at courts across the island in the next fiscal year, which begins April 1. He made the disclosure during the sitting of the Standing Finance Committee of the House of Representatives on March 1. Mr. Chuck informed that many of the courts have been supplied with...

A licence for integrated resort development (IRD) is to be awarded to one successful applicant based on the recommendation of the Enterprise Team overseeing the process. Two applications were received for the two exclusive zones that were on offer. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, made the disclosure during Wednesday’s (March 1) meeting of...

The Government is looking to establish a performance management system for the new public-sector compensation regime, now being implemented across ministries, departments and agencies (MDAs). Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, made the announcement during Wednesday’s (March 1) meeting of the Standing Finance Committee of the House of Representatives, whose members commenced deliberations on...

The National Fisheries Authority (NFA) is encouraging local fish farmers to register under the upcoming licensing and registration system. Principal Director of Fisheries Compliance, Licensing and Statistics, National Fisheries Authority, Dr. Zahra Oliphant, said fish farmers are critical for the sustainable development of the sector. “Our mandate is to sustainably develop and manage the fisheries and aquaculture sector in Jamaica....

Approximately $159 million has been allocated to complete phase II of the Ministry of Education and Youth’s Education System Transformation Programme in the new fiscal year. The sum is contained in the 2023/24 Estimates of Expenditure, now before the House of Representatives. The programme will be implemented by the National Education Trust (NET) and funded by the Government of Jamaica....

The Fourth Supplementary Estimates for fiscal year 2022/23 were approved in the House of Representatives on Tuesday (Feb. 28), pushing budgeted expenditure to approximately $1.002 trillion. Included are net incremental adjustments to the Central Government Budget of $4.3 billion, reflecting a net increase of $10.1 billion in recurrent expenditure and a net reduction of $5.8 billion in capital spending. Minister...