Mar 23, 2017 Last Updated 4:35 PM, Mar 22, 2017

The Minister of Finance & the Public Service

The Honourable Minister Audley Shaw CD, MP, Minister of Finance and the Public Service. He is a graduate of Northern Illinois University (NIU) with a Bachelor of Arts and Master of...

Minister of State in the Ministry of Finance and the Public Service

The Honourable Rudyard Spencer, CD, MP is Minister of State (Public Service), with the Ministry of Finance and Public Service. Minister Spencer studied Industrial Relations at Medg...

Financial Secretary

Mr. Everton McFarlane is charged with the responsibility of the Ministry of Finance and the Public Service, under his stewardship he will continue the implementation of the reforms...

Minister of State in the Ministry of Finance and the Public Service

The Honourable Fayval Williams, MP, is Minister of State in the Ministry of Finance and the Public Service. Minister Williams is a Chartered Financial Analyst (CFA), and holds an M...

Public Enterprises

A major function of the Public Enterprises Division (PED) is to examine continuously the financial performance of the Public Sector Entities.

Performance is measured againsts budgets and where applicable, agreed targets under the Public Sector Financial programme.

The Division assesses the impact of enterprises on the overall economy and develops as well as advises the Financial Secretary and the Minister of Finance and the Public Service (MoFPS) on appropriate policy options for ownership and control of individual enterprises.

To this end, the Division is integrally involved in the privatisation programme of the government. The Division is also required to promote sound financial management practices within these enterprises in order to reduce dependency on Government’s resources and improve their financial viability.

MISSION

To develop policies and monitor adherence to policy guidelines that will lead to improved financial management practices in Public Bodies.

OBJECTIVES

To promote sound financial management practices within Public Bodies in order to minimise dependence on budgetary resources and improve flows from viable operations to the Consolidated Fund.

SERVICES

  • Administering the Public Bodies Management and Accountability Act (2001) 
  • Conducting PBMA Act Workshops for Public Bodies 
  • Evaluating the physical achievement of entities 
  • Recommending governmental policy decisions to achieve effective management of Government’s investment in these enterprises to generate optimal economic and social benefits for the country as a whole and developing the Public Sector Investment Programme for the Selected Public Bodies;
  • Interpreting micro-economic data relating to these enterprises in the context of the global economy and the overall national targets, as those established under agreements with International Financial Institutions such as the World Bank, Inter – American Development Bank (IDB) and the International Monetary Fund (IMF).
  • Compiling the Jamaica Public  Bodies Estimates of Revenue & Expenditure 
  • Cabinet Submissions 
  • Ministry Papers 
  • Public Sector Entities Investment Programme report 
  • Appraisal Reports