The Government of Jamaica will be renewing its effort to dispose of several public sector assets during the new financial year, through a managed privatisation process.
Governor-General, His Excellency the Most Hon. Sir Patrick Allen, informed that the assets will be divested to either the private sector or communities, where it is determined that they would be used more productively, on a sustainable basis.
“In doing so, the Government will seek to balance, the well-understood need for getting the best price possible for certain assets and the urgency to put these assets into productive use to create jobs, goods or services,” the Governor-General stated, while delivering the Throne Speech at the opening of the 2013/14 Parliamentary Year on Thursday, April 4, at Gordon House.
He explained that Government has arrived at this position because it has found that many assets have been allowed to remain idle for years because it has been trying to secure some incremental increase in price, at or above, the perceived worth of these assets.
He advised that the Parliament would be kept informed of any action that will be taken in this regard and the reasons for so doing.
The Governor-General noted too that the model of Public/Private Partnerships, some of which are currently being undertaken, will continue to be pursued as a matter of policy.
By Andrea Braham, JIS Reporter