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Treatment Plant (WTP) in Content, St. Catherine. The finalisation of the WPA and the requisite approvals will be sought by the NWC.

b. Schools Energy Efficiency and Solar Project

A preferred bidder has been identified for the Schools Solar Project. The private investor is to undertake the financing, installation and maintenance of photovoltaic generation systems and energy efficiency retrofits in 30 select secondary schools as part of a pilot project. It is expected that negotiations will be concluded during the 2019/20 financial year to facilitate commencement of the project during FY 2020/21.

c. Jamaica Ship Registry

The Maritime Authority of Jamaica (MAJ) is to develop the Jamaica Ship Registry (JSR) and its related activities. Cabinet gave approval for the MAJ to proceed to the transaction phase for the management, operation and promotion of the JSR by way of a restricted bidding tender methodology. The transaction phase is expected to commence by the second quarter of the 2020/21 financial year.

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June 12, 2021


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SFPBs Performance The actual Overall Balance of the group as at March 31, 2016 is a surplus of $33,826mn, reflecting a significant improvement on the budget of $25,981mn. Contributing to this outturn was Current Balance at $70,268mn which was $12,762mn or 22% above budget, resulting from lower than expected income being offset by lower than budgeted expenses. In addition, capital expenditure of $37,061mn which was $19,119mn less than the budgeted amount and net Transfers to Government of $31,659mn was $12,788mn or 68% above budget. Both contributed to the higher than expected Overall Balance. The largest shortfalls on capital expenditure were reported by the National Housing Trust (NHT), Clarendon Aluminium Production (CAP), Jamaica+Urban+Transit+Company">Jamaica Urban Transit Company (JUTC) and National Water Commission (NWC), which accounted for $11,011mn or 58% of the variance of the group. SELF-FINANCING PUBLIC BODIES - FY 2016/17 The Overall Balance of the group of Self-financing Public Bodies is projected at a surplus of $3,308mn for FY 2016/17. The Current Balance is projected at a surplus of $61,051mn, while Net Transfers to Government of Jamaica (GOJ) are projected at $35,687mn, resulting from $50,477mn Transfers to GOJ and Transfers from GOJ of $14,790mn. The flows from SFPBs to GOJ include SCT from PetroJam, as well as corporate taxes, grants to support special programmes and financial distributions (dividends). It should be noted that Petroleum Company of Jamaica Limited (PETCOM) was not included in the group as negotiations for its sale were in its final stages. SFPBs Performance – First Quarter As at June 30, 2016 the group of SFPBs reported an Overall Balance surplus of $1,310mn compared with a targeted outturn of $74mn. The variance of $1,236mn was a combination of positive performances being offset by negative performances. NHT, Port Authority of Jamaica (PAJ), NWC and National Health Fund (NHF) had positive variances of $1,784mn, $1,747mn, 1,534mn and $1,058mn respectively, while PetroJam Limited and Urban Development Corporation (UDC) had negative variances of $2,333mn and $3,013mn respectively. NHT’s performance was due mainly to improved operating results (higher revenue and lower operating expenses) and lower than expected capital expenditure as several projects lagged behind schedule. PAJ’s performance was impacted by cash inflows consequent on the transfer of Kingston Container Terminal Limited’s operations to a concessionaire, as well as an under-spend on capital expenditure. NWC’s results were primarily attributed to delay in the implementation of its capital programme. The improvement in the NHF’s performance resulted mainly from increased inflows from operations and savings on inventory and capital expenditure. PetroJam’s performance was due mainly to reduced sales owing to the effects of lower than budgeted volume and prices. The UDC had budgeted net inflows from sale of properties, which did not materialize, hence its poor results.

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June 12, 2021


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Ministry of Finance and the Public Service Fiscal Policy Paper 2017 65 | P a g e

Total capital expenditure/investment is forecast at $62,728.8mn, compared with estimated spend of $41,089.8mn for FY 2016/17. Three public bodies, namely the NHT ($26,157.0mn), NWC ($7,962.0mn) and PAJ ($9,660.0mn) account for 70.0% of the planned expenditure. Notably PAJ and the NWC expect that they will be able to implement the capital programme as scheduled during this FY given that requisite approvals have been received as well as other preparatory activities substantially completed.

Jamaica">Port Authority of Jamaica (PAJ) PAJ’s developmental projects are strategically aligned to the Government of Jamaica’s growth and employment agenda and will be focused on Business Process Outsourcing (BPO). The development and expansion of Jamaica’s outsourcing industry is expected to be achieved through the construction of two BPO facilities in Kingston and Montego Bay. Cargo and Cruise Port Developments to support and facilitate growth and development in trade, commerce, tourism and cruise are planned for Falmouth, Montego Bay and Ocho Rios. These projects are expected to account for 65.0% of planned capital expenditure of $9,660.0mn.

Trust">National Housing Trust (NHT) The Trust will continue to pursue its drive to develop some 9,000 housing solutions by FY 2020/21; these solutions will comprise houses and residential lots in 42 developments over 11 parishes. It is expected that 2,159 housing solutions will be completed during FY 2017/18. Accordingly, the NHT is expected to spend $25,572.0 million on housing activities.

National Water Commission (NWC) The NWC will continue the implementation of selected strategies and capital projects that are expected to reduce the level of non-revenue water (NRW), achieve energy and other efficiency targets, contain operating costs and enhance revenues. Capital projects are budgeted at $7,962.0mn and include financing for pipeline replacement along the major road works being undertaken by the National Works Agency as well as funding for the KMA Water Supply Improvement project.

The group’s Overall Balance is projected at $1,705.4mn compared to estimated $16,987.0mn for FY 2016/17. The projected Overall Balance is driven primarily on the increased capital expenditure of the NWC and the PAJ. The Table following outlines the financial projection of the group of Public Bodies for FY 2017/18. The group is expected to return positive Overall Balances for the medium- term.

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Public Bodies (Selected) Summary of Original Forecasts for Financial Year 2019/20 $m

Public Bodies, FY 2020/21 Ministry of Finance and the Public Service Page 93

NWC PAJ PCJ PETROJAM UDC JUTC NROCC Petro-Ethanol CAP TOTAL 40,598.10 11,331.35 2,543.13 211,995.96 3,378.07 4,817.43 628.81 4,480.18 23,616.12 405,566.62

(41,666.67) (8,062.92) (3,382.87) (165,501.60) (3,349.00) (13,940.03) (7,217.01) (4,301.25) (25,349.28) (333,660.83) (1,068.57) 3,268.43 (839.74) 46,494.36 29.07 (9,122.60) (6,588.20) 178.93 (1,733.16) 71,905.79 6,721.27 1,939.72 (64.82) 2,768.04 34.09 4,352.49 1,830.03 74.65 6,820.44 15,429.66

- - - - - - - - - - (2,494.85) 37.05 (110.13) 2,379.96 (174.23) 2,072.70 (2.61) 32.75 5,946.60 4,101.63

- - - - - - - - - - 5,582.91 1,382.86 53.87 442.20 208.32 2,279.79 55.50 42.45 2,753.52 15,005.78 3,633.21 519.81 (8.56) (54.12) - - 1,777.14 (0.55) (1,879.68) (3,677.75)

- - - - - - - - - - 5,652.70 5,208.15 (904.56) 49,262.40 63.16 (4,770.11) (4,758.17) 253.58 5,087.28 87,335.45

(7,151.67) (4,391.96) (135.56) (8,191.92) (963.95) (296.85) (6.18) (102.62) (1,529.88) (47,369.71) - - - - - - - - - 22,140.19

(7,151.67) (4,391.96) (135.56) (5,014.68) (606.38) (286.85) (6.18) (45.88) (1,485.00) (65,836.87) - - - - - - - - - - - - - (3,177.24) (357.57) (10.00) - (56.74) (44.88) (3,673.03) - - 1,078.00 400.00 - 5,140.70 5,509.62 - - 14,106.95 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,078.00 400.00 - 5,140.70 5,509.62 - - 14,106.95 - (140.00) (41.29) (44,646.36) - - - (48.25) - (58,997.02) - (140.00) (13.95) (204.60) - - - (6.30) - (12,004.08) - - - - - - - - - - - - (27.34) (683.76) - - - (41.95) - (1,638.98) - - - (43,758.00) - - - - - (45,353.96)

(1,498.97) 676.19 (3.41) (3,175.88) (900.79) 73.74 745.27 102.71 3,557.40 (4,924.33) 1,498.97 (676.19) 3.41 3,175.88 900.79 (73.74) (745.27) (102.71) (3,557.40) 4,924.33

(75.20) 858.79 - - - - - - - 1,729.59 - 190.59 - - - - - - - 236.59 - 668.20 - - - - - - - 668.20 - - - - - - - - - - - - - - - - - - - 900.00

(75.20) - - - - - - - (75.20) (1,591.80) (3,367.42) - 2,902.68 - - (724.21) - (4,297.92) (10,812.48) (1,591.80) (3,087.23) - - - - (724.21) - - (7,097.05) 1,679.95 - - - - - - - - 1,679.95

(3,271.75) (3,087.23) - - - - (724.21) - - (8,777.00) - (256.70) - 2,902.68 - - - - (4,297.92) (3,691.94) - (256.70) - - - - - - (4,297.92) (6,594.62) - - - - - - - - - - - (256.70) - - - - - - (4,297.92) (6,594.62) - - - 2,902.68 - - - - - 2,902.68 - - - 2,902.68 - - - - - 2,902.68 - (23.49) - - - - - - - (23.49)

3,165.97 1,832.44 3.41 273.20 900.79 (73.74) (21.06) (102.71) 740.52 14,007.22 2,008.73 1,024.56 407.87 273.20 933.62 (50.50) 15.27 (102.71) 740.52 5,377.03 2,480.00 1,164.42 - - - (50.00) - - - 3,892.37

- - - - - - - - - - (471.27) (139.86) 407.87 273.20 933.62 (0.50) 15.27 (102.71) 740.52 1,484.66

- - - - - - - - - - 1,157.24 807.88 (404.46) - (32.83) (23.24) (36.33) - - 8,630.19

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Public Bodies (Selected) Summary of Estimated Outturn for Financial Year 2019/20 $m

Public Sector Entities, FY 2020/21 Ministry of Finance and the Public Service Page 95

NIF NWC PAJ PCJ PETROJAM UDC JUTC NROCC CAP TOTAL 47,813.38 34,187.78 10,848.08 7,165.16 195,747.54 2,507.01 8,022.89 490.71 20,433.49 390,595.00

(26,904.01) (39,450.57) (9,537.59) (1,155.36) (155,162.36) (3,019.64) (12,388.66) (12,163.24) (27,245.10) (322,230.82) 20,909.37 (5,262.79) 1,310.49 6,009.80 40,585.18 (512.63) (4,365.77) (11,672.53) (6,811.61) 68,364.18

(17,395.25) 9,827.71 4,607.64 (1,170.29) (511.01) 97.84 (2,231.16) 6,980.98 8,935.18 11,516.84 - - - - - - - - - -

79.66 171.43 (84.76) (139.34) (958.64) 6.26 (4,367.75) (160.96) 6,075.44 1,888.77 - - - - - - - - - -

30.95 4,877.14 1,388.33 50.24 613.48 94.13 1,937.40 61.53 2,812.55 13,667.78 (17,505.86) 4,779.14 3,304.07 (1,081.19) (165.84) (2.55) 199.19 7,080.41 47.19 (4,039.71)

- - - - - - - - - - 3,514.12 4,564.92 5,918.13 4,839.51 40,074.17 (414.79) (6,596.93) (4,691.55) 2,123.57 79,881.02

(5.20) (3,951.89) (6,694.73) (54.32) (3,253.45) (204.01) (521.20) (646.75) 1,100.21 (42,672.17) - - - - - - - - - 18,180.38

(5.20) (3,679.77) (6,672.03) (54.32) (2,048.07) (30.44) (339.72) (646.75) - (60,058.42) - - - - - - - - - - - (272.12) (22.70) - (1,205.38) (173.57) (181.48) - 1,100.21 (794.13) - - - 359.33 439.55 - 6,631.47 5,766.70 - 15,575.68 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 359.33 439.55 - 6,631.47 5,766.70 - 15,575.68

(1,027.21) (7.46) - (5,039.08) (39,573.95) - - - - (59,962.51) - - - (4,889.65) (111.91) - - - - (17,686.56) - - - - - - - - - - - (7.46) - (149.43) (374.83) - - - - (1,361.53)

(1,027.21) - - - (39,087.22) - - - - (40,914.43) 2,481.71 605.57 (776.60) 105.44 (2,313.68) (618.80) (486.66) 428.40 3,223.79 (7,177.99)

(2,481.71) (605.57) 776.60 (105.44) 2,313.68 618.80 486.66 (428.40) (3,223.79) 7,177.99 - 1,000.00 - - 16,853.75 - - - - 23,532.78 - - - - - - - - - 1,513.53 - - - - 16,853.75 - - - - 16,853.75 - 1,000.00 - - - - - - - 5,165.50 - - - - - - - - - - - - - - - - - - - - - (1,816.30) (2,749.64) - 3,427.38 - - (752.24) (869.65) (4,176.74) - (1,816.30) (2,427.99) - - - - (752.24) - (6,412.82) - 1,103.02 - - - - - - - 2,734.17 - (2,919.32) (2,427.99) - - - - (752.24) - (9,146.99) - - (271.52) - 3,427.38 - - - (869.65) 2,286.21 - - (271.52) - - - - - (869.65) (1,141.17) - - - - - - - - - - - - (271.52) - - - - - (869.65) (1,141.17) - - - - 3,427.38 - - - - 3,427.38 - - - - 3,427.38 - - - - 3,427.38 - - (50.13) - - - - - - (50.13)

(2,481.71) 210.73 3,526.24 (105.44) (17,967.45) 618.80 486.66 323.84 (2,354.13) (12,178.05) (418.83) 1,918.17 1,555.56 (601.75) (17,967.45) 425.94 516.99 52.38 617.52 (16,574.62)

- 2,041.59 1,245.24 - - - (46.03) - - 3,053.72 - 113.37 - - - - - - - 113.18

(418.83) (236.79) 310.32 (601.75) (17,967.45) 425.94 563.02 52.38 617.52 (19,741.52) - - - - - - - - - -

(2,062.88) (1,707.44) 1,970.68 496.31 - 192.86 (30.33) 271.46 (2,971.65) 4,396.58

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June 12, 2021


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