Economic Growth Council concerned about missed targets and deadline in growth agenda
The Economic Growth Council has raised concern that the Government has missed some of its deadlines.
The Michael Lee-Chin-chaired Council in its April to June Report to the nation points out that the Government missed its May deadline to complete Public Procurement Regulations and Handbook of Public Sector Procedures.
Commenting on the missed deadline last evening, Lee-Chin said the proposed legislation will be an important tool in the drive towards economic growth.
The Public Procurement Act provides for the establishment of the Procurement Policy Office, the Public Procurement Commission and strengthening and expansion of the function of the Procurement Review Board that will regulate and harmonise the public procurement process.
Meanwhile, the Economic Growth Council has raised concern that the Urban Development Corporation (UDC) and the Factories Corporation of Jamaica (FCJ) did not submit to Cabinet a plan to divest up to 20 per cent of their assets by the May deadline.
Lee-Chin has called for the entities to fulfil the mandate.
He notes that the Ministry of Economic Growth and Job Creation is finalising the submission with respect to the UDC assets and the FCJ Board is still in the process of putting together a list of assets to be divested.