Miss Jamaica Toni-Ann Singh crowned Miss World

KINGSTON, Jamaica — Toni-Ann Singh, Miss Jamaica World is Miss World 2019.Singh won from a field of 114 contestants at the 69th edition of the pageant in London today. Read more

More State assets to be sold – Holness

Sunday, April 14, 2019

Print this page Email A Friend!

Prime Minister Andrew Holness, says that the Government intends to divest more under-utilised state-owned assets.

He said that the objective is to create greater space for spending on hospitals, schools, roads, national security, infrastructure and housing, pay down debt, among other things.

“The strategy of the Jamaican Government is, you are only stronger when you have more fiscal space, so …we are looking now, right across the length and breadth of the country, at all the assets that the Government owns.

Those that are underutilised, those that are not making a profit and those that are profitable… we are going to place those assets in the hands of the private sector,” he said.

The Prime Minister was speaking at Wigton Windfarm Limited's Initial Public Offering (IPO) Investor Briefing held at the Montego Bay Convention Centre in Rose Hall, St James on Friday.

Jamaicans will have the opportunity to purchase shares in Wigton when the IPO opens on April 17 and closes on May 1. A total of 11 billion shares at 0.50 cents each are being offered with 2.2 billion shares reserved for public sector workers.

The Government is seeking to raise $5.5 billion from the sale. Prime Minister Holness noted that the IPO gives average Jamaicans the opportunity to “gain the gift of ownership” by purchasing Wigton stocks.

“We are doing this in such a way because we believe that the average Jamaican must participate in the ownership of the asset because this makes Jamaica stronger. So we are … making (the) asset affordable,” he said.

Minister of Science, Energy and Technology, Fayval Williams, in emphasising the affordability of the stock, noted that the entry price is $1000 or 2000 shares. “In other IPOs, ordinary Jamaicans would have to come up with a minimum of $5,000 or $10,000 to get in,” she pointed out.

A subsidiary of the Petroleum Corporation of Jamaica (PCJ), Wigton Windfarm is the largest wind energy facility in the English-speaking Caribbean and was built by the Government to aid in the diversification of Jamaica's energy mix.

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at http://bit.ly/epaperlive




1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy

comments powered by Disqus



Today's Cartoon

Click image to view full size editorial cartoon