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Government looking to sell loss-making bodies on JSE

Published:Thursday | July 23, 2015 | 7:12 AM

The Government is looking at listing some loss-making public entities suitable for privatisation on the Jamaica Stock Exchange.

Deputy Financial Secretary with responsibility for Public Enterprises in the Ministry of Finance and Planning, Ann-Marie Rhoden, says the government was successful in the past in using this model of privatisation of state-owned entities.

Rhoden cites the privatisation of the National Commercial Bank and the Cement Company.

She says going to the stock exchange will replace current practice of extending private invitations to investors to purchase entities or soliciting requests for proposals.

Rhoden says when the new model is approved and implemented it should result in a quicker turnaround time in privatisation of loss-making entities.

She says this model will promote ownership of local enterprises by Jamaicans and result in more efficient management and delivery of service.

Rhoden was speaking at a JIS Think Tank on Tuesday.