Members of the House of Representatives on Tuesday (March 28) approved the Financial Administration and Audit (Amendment) Act, 2023. The legislation, which was piloted by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, was passed with one amendment. It seeks to repeal section 48C (1c), which forms part of the fiscal responsibility framework that was first...

There is an uptick in the number of persons utilising remittance services provided through the digital payment wallet – Lynk. Lynk is currently the sole wallet facilitating transactions involving Jamaica’s Central Bank Digital Currency (CBDC) – JAM-DEX. It is an app that can be downloaded on mobile devices. Speaking during a JIS ‘Think Tank’ on March 23, Brand and Sponsorship...

The Bank of Jamaica (BOJ) is reporting that hundreds of small-business operators have registered with its digital currency, ‘JAM-DEX’, while a pilot project involving Government payment was successfully done. According to Divisional Chief for Financial Markets Infrastructure at the Central Bank, Dr. Novelette Panton, as at the 18th of February, 90 small merchants and 4,500 micro merchants were with the...

Tax Administration Jamaica (TAJ) is reminding the public that it will open select Tax Offices this Saturday, March 25, 2023, which represents the last of month-end Saturday operations for the financial year 2022/23. The convenience of the Saturday opening times at the month-end has resulted in significant take-up by members of the public, as the Tax Offices record an uptick...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says the Government is making the largest capital investment ever made in agriculture, with more than $12 billion programmed across fiscal years 2022/23 and 2023/24. He indicated that the provision is earmarked to build out irrigation, pumps, piping, storage and farm road infrastructure in St. Catherine, Clarendon, and...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, has thanked civil servants for accepting the Government’s restructured public-sector compensation package. Dr. Clarke, who closed the 2023/24 Budget Debate in the House of Representatives on Tuesday (March 21), advised that 95 per cent of public officers have indicated acceptance of the offer, which sees them getting a...

The architectural design for the Boundbrook Urban Centre in Port Antonio, Portland, has been completed and is now going through the approvals and permitting process. Prime Minister, the Most Hon. Andrew Holness, made the disclosure during his contribution to the 2023/24 Budget Debate in the House of Representatives, on March 16. Mr. Holness said 126,000 square feet of rentable space...