Gov’t Allocates $24.5 Billion to Support New Projects under PIMS
By: , February 23, 2024
Photo: Donald De La Haye
Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, tables the 2024/25 Estimates of Expenditure in the House of Representatives on Thursday (February 15). At left is Deputy Prime Minister and Minister of National Security, Hon. Dr. Horace Chang.The Full Story
The Government has allocated $24.5 billion to support new projects under the Public Investment Management System (PIMS).
Details of the provision are outlined in the 2024/25 Estimates of Expenditure, tabled in the House of Representatives by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, on February 15.
During the upcoming fiscal year, the contingency allocation will provide budgetary support to new projects which are approved for implementation under PIMS, but are not yet on the Budget.
It is anticipated that the sum earmarked for 2024/25 will also undergird those engagements not receiving Cabinet approval at the tabling of the Budget for the upcoming fiscal year.
The Ministry of Finance and the Public Service is implementing the Government of Jamaica funded project, which initially ran from April 2017 to March 2022, and has been extended to March 2026.