Showing posts with label Agreement. Show all posts
Showing posts with label Agreement. Show all posts

Thursday, October 2, 2014

Jamaica passes 5th IMF test, to get $US68.8 under agreement

Wednesday, September 24, 2014 | 1:55 PM    

KINGSTON, Jamaica – Jamaica can now access roughly US$68.8 million in loan following a successful review of the economy by the Executive Board of the International Monetary Fund (IMF).

The IMF on Wednesday completed the fifth review of Jamaica’s economic performance under the Extended Fund Facility (EFF).

The announcement was made in a release to the media this afternoon from the Finance Ministry.

“Jamaica’s economic performance under the authorities’ economic programme supported by the EFF has remained strong,” the ministry release said.

“All quantitative performance criteria for end-June 2014, as well as the continuous quantitative programme targets and structural benchmarks, were met,” it continued.


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Jamaica passes 5th IMF test, to get $US68.8 under agreement

Thursday, July 3, 2014

Cooperative agreement for regional risk reduction signed

The first international seminar for the Greater Caribbean’s “CARIB RISK CLUSTER” recently ended in Martinique with the signing of a cooperative agreement to address risk reduction across the region.

The meeting addressed the many aspects of risk reduction, including the prevention and management of disaster risks facing the Caribbean Basin and how to protect human lives and safeguard socio-economic development.

About 150 delegates and officials from seven Caribbean countries and territories: Barbados, Dominica, Jamaica, Martinique, St. Lucia, St. Martin and Trinidad and Tobago, focused on thematic areas during the three-day meeting, addressing meteorological risks, town and country planning, health and epidemic risks, and public information services.

The final declaration reiterated a commitment to regional cooperation through the “CARIB RISK CLUSTER”, which was established in 2011 by the General Council of Martinique.

Co-financed by the European Union through the INTERREG CARAIBES IV Programme, the project, originally entitled “Caribbean Cluster on natural risks and risks from the sea,” seeks to coordinate and strengthen risk management policies in the region.

Delegates agreed to leverage the combined efforts of the Caribbean Meteorological Organization (CMO), the Office of Disaster Preparedness and Emergency Management (OPDEM), and the Caribbean Disaster Emergency Management Agency (CDEMA).

This resulted in the signing of an agreement between the General Council of Martinique, represented by its President Mrs. Josette Martin, and Ronald Jackson, CDEMA’s Executive Director.

Mrs. Manin, in her capacity as the head of “CARIB RISK CLUSTER”, thanked the participants of the seminar and confirmed her personal and team’s support to pursue a successful completion of this ambitious and important regional project.

Source: General Council of Martinique


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Cooperative agreement for regional risk reduction signed

Tuesday, July 1, 2014

JPS and BMR to sign power purchase agreement

The Jamaica Public Service Company (JPS) is to sign an agreement with renewable energy firm, Blue Mountain Renewables (BMR) to purchase the energy it produces.

BMR was recently awarded the right to build a 34 megawatt wind farm near Malvern in St. Elizabeth, having responded to an invitation from the Office of Utilities Regulation in October 2012 for proposals for renewable energy projects.

The JPS has partnered with BMR by providing background wind data based on its existing operations at the Munro Wind Farm, situated in the vicinity of the proposed new facility.

The project

According to information provided on BMR’s website, the project will include 18 wind turbines. The entire installation will require about 75 acres of land to be leased from the National Land Agency.

It says the overall area where the equipment will be installed totals more than 600 acres of land, much of which is currently used for farming and cattle grazing. Those activities can continue at the site, alongside the wind farm, the company is projecting, “since only a small parcel of land around each wind turbine will be reserved for the project.”

About BMR

Blue Mountain Renewables says the company was established to develop renewable power generation projects throughout the Caribbean and Central American region.

It says BMR shareholders “include veterans of the electric power industry with over sixty years of collective experience and American Capital Ltd. one of the largest investment management firms in North America.”

The company says its shareholders have teamed up to develop and invest in energy related infrastructure projects throughout the region.


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JPS and BMR to sign power purchase agreement

Wednesday, June 25, 2014

JPS and BMR to sign power purchase agreement

The Jamaica Public Service Company (JPS) is to sign an agreement with renewable energy firm, Blue Mountain Renewables (BMR) to purchase the energy it produces.

BMR was recently awarded the right to build a 34 megawatt wind farm near Malvern in St. Elizabeth, having responded to an invitation from the Office of Utilities Regulation in October 2012 for proposals for renewable energy projects.

The JPS has partnered with BMR by providing background wind data based on its existing operations at the Munro Wind Farm, situated in the vicinity of the proposed new facility.

The project

According to information provided on BMR’s website, the project will include 18 wind turbines. The entire installation will require about 75 acres of land to be leased from the National Land Agency.

It says the overall area where the equipment will be installed totals more than 600 acres of land, much of which is currently used for farming and cattle grazing. Those activities can continue at the site, alongside the wind farm, the company is projecting, “since only a small parcel of land around each wind turbine will be reserved for the project.”

About BMR

Blue Mountain Renewables says the company was established to develop renewable power generation projects throughout the Caribbean and Central American region.

It says BMR shareholders “include veterans of the electric power industry with over sixty years of collective experience and American Capital Ltd. one of the largest investment management firms in North America.”

The company says its shareholders have teamed up to develop and invest in energy related infrastructure projects throughout the region.


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JPS and BMR to sign power purchase agreement

Saturday, August 10, 2013

Council says partnership agreement has youth focus

THE National Partnership Council has hit back at claims made by the National Youth Council of Jamaica (NYCJ) that the recently signed social partnership agreement does not address youth issues.

Chairman of the NYCJ, Ryan Small last week said that none of the six objectives of the agreement — inked by Government, civil society, trade unions, the private sector, and academia — showed that there was any recognition of and appreciation for youth as catalysts for social change.But speaking with the Jamaica Observer on Monday, youth representative on the council, Kemesha Kelly said nothing could be further from the truth.“The National Youth Council was one body I consulted to get feedback for the document,” she said during the newspaper’s weekly Monday Exchange.“Everything in this document has some bearing on Jamaican youth. At the end of the day, we talk about Vision 2030, it is the current crop of youth that will really realise Vision 2030 and this document has that visionary thrust as well. We have set these targets with consultation and youth participation,” she added.As an example, she pointed to the goal to reduce youth unemployment from the current 37 per cent to 25 per cent by 2016.“I’m particularly pleased that the partnership is so greatly concerned about youth unemployment and there is going to be great effort to bring that down. From the civil society perspective as well, [because] the document also focuses on female unemployment,” she said.The target is to bring female unemployment down from 17.8 per cent to 12 per cent, while the goal for general unemployment is to reduce the figure from 14.2 per cent to 10 per cent.Academia representative Professor Alvin Wint, who along with Kelly, labour union representative Oneil Grant and another academia rep Professor Neville Ying were guests at the Monday Exchange, also weighed in on the youth focus discussion.“I’ve heard comments that this is not for the youth [but it] is for the youth,” he reiterated.“We’re trying to create a Jamaica where Jamaicans will want to live and work and [do business]… but we have to move with greater assertiveness and aggression. And we need the energies of our young people to come on board,” he said.Asked how it intended to achieve the lower unemployment figures given the persistent softness of the economy, the council told the Observer that the strategy was not to consider unemployment in isolation, but in tandem with the other goals, including a reduction in murders, the debt-to-GDP ratio and the cost of energy, coupled with an increase in real economic growth and an improvement in the ease of doing business ranking.“We’re not trying to increase employment as an action in and of itself,” professor Wint explained.“We’re looking at it as part of a general programme of reforming and rebuilding and [reinjecting] confidence into the Jamaican economy and society to make people feel much more confident about the direction of the country,” he said, referencing the linkages between crime, security, economic stability and the ability to attract investors.“It’s important to understand that the whole thrust of this agreement is to harden the economy, to make it stronger, so these aren’t issues that are being considered in isolation of each other…If we don’t improve our regulatory environment, if we don’t improve our security, if we don’t improve our economic environment, we’re not going to get investment so that is why these things are all happening in tandem,” the professor stressed.Added to that, Wint said businesses make employment decisions based not only on current situations, but also on expected direction of the country at any particular point.“It’s not just that they have to see where the country is now, but they have to have some sense of where it is going. This is why this thrust is so important to rebuild confidence in where we are and where we’re going as a country, and this is why consensus is so important,” he told the Observer.And, he said, it’s “not beyond the realm of possibility” to achieve.“If you take unemployment, we’re at 14 per cent and the goal is to get to 10 per cent. But not too long ago we were at 11 per cent,” he argued.The partnership agreement was signed at King’s House last Wednesday after nearly two decades of dialogue.Public consultations on their elements and the way forward are to start within the next two months and youth advocate Kelly has committed to ensuring that the youth are duly represented in those fora.“It is important that all Jamaicans come on board to support this partnership and young people need to really throw their energies behind it,” she told the Exchange. “I’m going to make it my personal responsibility to ensure that young persons from across the length and breadth of Jamaica get involved in these consultations so their voices can be heard… Any strategy going forward must have the input of the young persons and their energy as well to achieve it.”(L-R) WINT… the partnership is for the youth. KELLY… everything in this document has some bearing on Jamaican youth (PHOTOS: NAPHTALI JUNIOR

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Council says partnership agreement has youth focus

Friday, July 12, 2013

We have no agreement for a flat tax – Taxi operators

Latest News

Thursday, July 11, 2013 | 4:48 PM

KINGSTON, Jamaica — The Jamaica Association of Transport Owners & Operators (JATOO) says any plans to introduce a flat tax on public passenger vehicles (PPV) operators will be rejected by its membership and also by the majority of the public passenger transportation sector.The Transport Ministry in a statement Thursday said that an agreement was reached with the island’s transport operators for a flat tax.But in a quick response this afternoon, JATOO president Louis Barton denied any such agreement. “The days of government or their agencies imposing laws or regulations on the public transport industry without a process of consultation is now over,” Barton said in a release.“A flat tax on the public transportation sector is, at least, discriminatory as no other sector will be having this tax being imposed on them.”“Bus operators have seen their expenses increase by over 78 per cent between 2008 and 2012, while for the same period income has remained the same because there had not been a fare increase,” Barton charged.He said that no public transport owner was making a profit at this time, including the government-owned Jamaica Urban Transport Company (JUTC) which was subsidised to the tune of over $5.7 billion over the same period.“Any decision by the Tax and Audit Administration of Jamaica to impose a flat tax on the industry will be vigorously rejected by JATOO using all possible channels at our disposal,” Barton insisted.Meanwhile minister without portfolio in the Trasnport Ministry, Dr Morais Guy in championing a flat tax said that the move will eventually result in a formalisation of the public transportation sector.Like our Facebook page https://www.facebook.com/jamaicaobserverFollow us on Twitter https://twitter.com/JamaicaObserver

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We have no agreement for a flat tax – Taxi operators