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