PSOJ encouraged there is priority for public sector rationalisation

The Private Sector Organisation of Jamaica (PSOJ) has said it is encouraged that Finance Minister Dr Nigel Clarke intends to accelerate the process for the rationalisation of public bodies.

"The PSOJ supports the execution of this initiative as a very necessary step to achieve the goal of complete independence from the International Monetary Fund (IMF), for the future and applauds the minister's very clear and determined posture in this regard," said PSOJ president Howard said in a release Thursday.

READ: Jamaica should avoid going back to the IMF

Mitchell has also urged Clarke to ensure that, in selecting members to the approximately 52 boards of public bodies now due to be appointed the competency profile instrument should be used.

IN PHOTO: Finance Minister Dr Nigel Clarke

The instrument developed for the boards of public bodies was approved by the Cabinet in January 2017.

"It ought to be used as a primary tool for identifying directors to serve and for selecting directors with the requisite knowledge, skill and track record of integrity so as to add value to the oversight of public bodies," Mitchell said.

He also wants Clarke to ensure strict enforcement of the Corporate Governance Framework for Public Sector Bodies as part of his drive to reduce waste and malfunction and to increase good Governance.

Mitchell said the PSOJ stands ready to help the government in the rationalisation exercise and in strengthening the governance of public bodies.

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