Gov’t Divesting Norman Manley Airport and JPS Shareholding

Photo: Contributed Norman Manley International Airport .

Story Highlights

  • The Government will commence the process of divesting the Norman Manley International Airport (NMIA) and its remaining shareholding in the Jamaica Public Service Company (JPS) during the 2017-18 legislative year, as part of the public sector transformation agenda.
  • Given the significant State funds and resources required to enable the NMIA to operate optimally, it was recommended for divestment.

The Government will commence the process of divesting the Norman Manley International Airport (NMIA) and its remaining shareholding in the Jamaica Public Service Company (JPS) during the 2017-18 legislative year, as part of the public sector transformation agenda.

This was announced by Governor-General, His Excellency the Most Hon. Sir Patrick Allen, while delivering the Throne Speech during last Thursday’s (February 9) Ceremonial Opening of Parliament for the new fiscal year at Gordon House.

In 2016, the Government appointed an Enterprise Team to examine the airport’s operations.

Given the significant State funds and resources required to enable the NMIA to operate optimally, it was recommended for divestment.

Meanwhile, an Enterprise Team will be appointed to lead the process for the JPS.

“The Government will take steps to ensure that there is broad retail and institutional participation and Jamaican owners in the divestment process,” the Governor-General stated.

The Throne Speech was delivered under the theme: ‘A Firm Foundation for Prosperity’.

JIS Social