More

KINGSTON — A sum of $132 billion has been set aside in the 2011/12 Estimates of Expenditure for the Government’s repayment of internal and external debt and sinking fund contributions. In terms of internal debt, a total of $45 billion of the money will deal with market issues such as repayment of local registered stock (LRS) issued to the Bank...

KINGSTON — The Statistical Institute of Jamaica (STATIN) is to receive $14.8 million this fiscal year, to strengthen its institutional capacity and the national statistics system. This will be done by providing financial and technical input to adopt a strategic approach to improving the scope and quality of statistical services. The funds, which have been allocated in the 2011/2012 Estimates...

KINGSTON — The Sugar Company of Jamaica Limited and Air Jamaica are to receive grants totalling $7.1 billion to meet legacy payments arising from the divestment of both entities. As contained in the 2011/12 Estimates of Expenditure, now before the House of Representatives, the Sugar Company of Jamaica Limited is to receive $2.6 billion, while Air Jamaica will get $4.5...

KINGSTON — Jamaica's effort to develop a strategic spatial framework, which would guide national development and investment decision-making, is being enhanced through a $44.5 million allocation to the National Spatial Plan (NSP) project in the Office of the Prime Minister. The plan will ensure the optimal use of the country’s land resources and outline the framework for their effective use...

KINGSTON — The Government will continue its efforts to enhance competition in the Jamaican economy, with an allocation of $8.5 million to the Capacity Building in the Enforcement of Competition Law in Jamaica project. This is contained in the 2011/12 Estimates of Expenditure, now before the House of Representatives. Implemented by the Ministry of Industry, Investment and Commerce in April...

KINGSTON — The Government is moving to improve the operational efficiency of Micro, Small and Medium-sized Enterprises (MSMEs), by providing them with improved access to information technology. The move will be carried out under the Centralized Information Technology (IT) System project for which a sum of $18 million has been allocated in the 2011/12 Estimates of Expenditure, now before the...

KINGSTON — A sum of $8.7 million has been allocated in the 2011/12 Estimates of Expenditure, currently before the House of Representatives, to continue work on the Ministry of Industry, Investment and Commerce’s Plant Breeding and Diagnostics Technologies project. With funding from the Government of Jamaica and the International Atomic Energy Agency (IAEA) the main objectives of the projects are:...

KINGSTON — The Government, in its efforts to boost investment and job creation, has allocated some $22 million to the Promotion of Foreign Direct Investment in Jamaica project. The provision is made in the 2011/12 Estimates of Expenditure, currently before the House of Representatives. The main objectives of the project, which is being implemented through Jamaica Promotions Corporation (JAMPRO) are:...

KINGSTON — The Justice Undertakings for Social Transformation (JUST) project has received an allocation of $360 million in the 2011/12 Estimates of Expenditure, now before the House of Representatives. The objective of the project is to provide support to the Ministry of Justice on matters related to the planning and implementation of justice reform measures. For the 2011 to 2012...

KINGSTON — The Government has set aside $10.6 billion to continue work to improve the infrastructure in tourist centres along the northern coast of Jamaica. This will be done under the Northern Jamaica Development Project, which is being implemented by the Ministry of Transport and Works, through funding from the Caribbean Development Bank (CDB), European Union (EU), Inter American Development...

KINGSTON — The Government will continue to target poverty alleviation in the new fiscal year, including an allocation of $2.8 billion in 2011/12 Budget to the Jamaica Social Investment Fund (JSIF), an agency of the Office of the Prime Minister (OPM), to undertake a number of projects. The Inner-City Basic Services project (ICBSP) has been allotted the lion’s share of...

KINGSTON — A Fiscal Systems Modernisation project, aimed at increased tax compliance, reduced costs and more efficiency in the public sector, is to be instituted this financial year. Some $550 million has been allotted in the 2011/12 Estimates of Expenditure, now before the House of Representations, to implement the project. It involves reforming the Jamaica Tax Administration into a modern...