The Government of Jamaica has identified PPPs as a means of stimulating economic growth in the Jamaican economy. The PPP Programme will be undertaken within the context of the existing legal framework.
The administration of the PPP process may be captured in two broad institutional structures: strategic and operational.
- The strategic responsibilities include the approval of policies and strategies for the implementation of PPPs and take into consideration the alignment of the PPP Policy with the other broad economic strategies of the GOJ. These activities will include approving the PPP Policy and list of PPP opportunities.
- Operational responsibilities are tied to the day-to-day administration of the programme implementation including management of all elements of the transactions and providing advisory support to the GOJ teams charged with strategic oversight of the programme.
Two (2) committees will have strategic oversight of the PPP Programme:
- The Cabinet
- Privatisation Committee of Cabinet, supported by recommendations from a Strategy Committee
Guiding Principles of the PPP Programme
The PPP Programme will be guided in all cases by four (4) over-riding principles:
- Optimal risk transfer – each identified project risk shall be allocated to the party that is better able to manage, control and bear the impacts of that risk.
- Achieving value for money for the public – the PPP must have benefits that exceed its costs, and be the least-cost practical way to achieve those benefits.
- Being fiscally responsible – any PPP that involves fiscal support (whether through planned payments or guarantees) will be scrutinized to ensure that the fiscal commitments are affordable, and not likely to be destabilising.
- Maintaining probity and transparency – making sure that the public is informed at all times about candidate projects, and that no person is unjustifiably advantaged or disadvantaged by the project.
Housing PPPs, which are the responsibility of the Minister of Housing, being undertaken under the Housing Act are exempted from this Policy. Therefore, the Housing PPP Policy is applicable to Public-Public Private Partnership agreements with the objective of developing housing solutions, which are to be promoted by the Minister of Housing or related agencies under his authority.