Minister of Finance and the Public Service
UNIONS SIGN NEW PUBLIC SECTOR COMPENSATION AGREEMENT
Kingston, Jamaica: Wednesday, November 30, 2022
The Ministry of Finance and the Public Service (“MOFPS”) has reached an agreement with the Jamaica Association of Public Health Inspectors and the Staff Association of the College of Agriculture, Science and Education on the new restructured public sector compensation system.
On Wednesday, November 30, 2022, both unions signed with the MOFPS on the new compensation package. This brings to 17 the number of unions who have signed agreements with the MOFPS on the restructured public compensation system.
Hon. Nigel Clarke, DPhil., MP, Minister of Finance and the Public Service noted that it is the Government’s commitment to implement a public sector compensation that is fair, transparent and sustainable while emphasizing that every public sector worker will be better off financially when the new system is implemented.
The new compensation system will be implemented over three years with an effective date of April 1, 2022 and will cost approximately $120B over the period.
-end-
For further information contact:
Corporate Communication & Public Relations Branch
Ministry of Finance and the Public Service
30 National Heroes Circle
Kingston 4
Tel: (876) 932-4656/4660/4655
Email: Shelly-Ann.Weeks@mof.gov.jm; Shakiel.Rochester-Shorter@mof.gov.jm
The Hon. Nigel Clarke, D.Phil., MP
Minister of Finance and the Public Service
30 National Heroes Circle, Kingston 4
Tel: (876) 932-4656 / 4660 / 4655
Eml: opedjamaica@gmail.com
Civil servants in leadership roles across central government are being urged to effectively engage in coaching and mentoring employees within the public service so they too can be effective leaders. The call came during the Civil Service Week Public Forum held at the AC Hotel by Marriott on Tuesday, November 21, 2023.
The Government of Jamaica and the World Bank signed a loan agreement for USD 30 million to support the Jamaica Education Project (JEP) which is programmed to conclude on June 30, 2029. The Government of Jamaica and World Bank representatives participated in a visibility ceremony for the loan agreement held at the Ministry of Finance and the Public Service on Monday, November 20, 2023.
The Inter-American Development Bank (IDB) and the Government of Jamaica have signed a Project Preparation Facility (PPF) Technical Assistance agreement to generate a pipeline of investment projects in Jamaica. The total project is valued at US$1.25 million.
On November 3, 2023, the Government of Jamaica (GOJ) issued the first ever Jamaican Dollar (J$) linked international bond in the amount of J$46.6 billion, equivalent to USD 300 million. The issuance, which was oversubscribed 1.4 times, consists of Senior Unsecured Notes due 2030 which are registered with the Securities Exchange Commission in the United States.
Stay in the know with everything going on at the Ministry of Finance and the Public Service by subscribing the MOFPS INSIDER magazine.
Stay in the know with everything going on at the Ministry of Finance and the Public Service.
