Gov’t Owns State Assets Under Public-Private Partnerships

first_imgStory Highlights Executive Director of the Public Investment Management Secretariat (PIMSEC), Douglas Levermore, says that the Government retains ownership of the country’s assets under public-private Ppartnership (PPP) arrangements. Executive Director of the Public Investment Management Secretariat (PIMSEC), Douglas Levermore, says that the Government retains ownership of the country’s assets under public-private Ppartnership (PPP) arrangements.“In the PPP modality, the Government still owns the assets, so this notion of a sell-out of the particular government interest is not founded in reality…the State’s assets may be concessioned to an experienced operator with resources for a period, but the State still owns the assets,” Mr. Levermore explained during a recent JIS News interview.“With a PPP transaction, there is a mutually beneficial outcome, where the Government has a particular activity to be executed and the private sector is able to do it properly. The people of Jamaica derive great benefits from the proper functioning of such activities,” he added.To date, the Government has completed 24 PPP transactions, including the Norman Manley International Airport and Kingston Terminal Properties Limited.Mr. Levermore assured that extensive planning and analysis are done before the Government embarks upon these arrangements.“I want for us to understand that there is widespread consultation before investment takes place. A successful public-private partnership project leads to an overall improvement of the economic fortune,” he noted.Meanwhile, PIMSEC has announced that it will be upgrading its operations with the procurement of a new system to track the various stages of public investment projects.“We are at an advanced stage of procurement for a platform called the Public Investment Information Management System and this platform will be available to all ministries, departments and agencies, public bodies and international development partners,” Mr. Levermore said.He pointed out that the new system will greatly aid in the monitoring and evaluation of key investment projects being undertaken by Government.PIMSEC is the gatekeeper for the Public Sector Investment Programme (PSIP), which is a rolling five-year plan of Cabinet-approved public investment projects.center_img “In the PPP modality, the Government still owns the assets, so this notion of a sell-out of the particular government interest is not founded in reality…the State’s assets may be concessioned to an experienced operator with resources for a period, but the State still owns the assets,” Mr. Levermore explained during a recent JIS News interview.last_img read more

Mia Farrow To Visit Central African Republic This Week

first_imgUNICEF Goodwill Ambassador Mia Farrow will travel to Central African Republic this week to help highlight the plight of children as new fighting is making an already dire humanitarian situation even more precarious.This will be Ms. Farrow’s third visit to the conflict-torn country, where renewed fighting since August has forced thousands of people to flee, with nearly 400,000 people now displaced. Most of them are women and children with many hiding in remote areas and in desperate need of clean water, food and health facilities.During the one-week visit, Ms. Farrow is scheduled to travel to the troubled region of Bossangoa north of the capital city of Bangui to meet with families who have recently sought refuge from fresh fighting in the area. She will also visit a school that has recently opened in Bangui, as well as health points and a hospital in the capital.With increasing numbers of people displaced by violence across the landlocked country, UNICEF has warned that in the coming weeks, growing needs will exceed available emergency supplies.Since August, UNICEF has helped provide more than 44,000 displaced people with plastic sheeting, blankets, mosquito nets, jerry cans, hygiene kits and soap. But humanitarian needs are growing faster than aid, and UNICEF is urgently requesting an additional US$3 million for emergency relief items.New supplies are arriving by air to Bangui this week, including 48 metric tonnes of mosquito nets and emergency provisions for 6,000 families, through the support of the Office of U.S. Foreign Disaster Assistance. But much more is needed.Ms. Farrow, an internationally acclaimed actress and humanitarian activist, was appointed UNICEF Goodwill Ambassador in September 2000. She last visited Central African Republic in 2007 and 2008.last_img read more