Gov't moving ahead with plans to privatise NWC

The government has given the clearest indication to date of how it intends to achieve the privatisation of the state run National Water Commission (NWC).

     

Dr. Horace Chang, Minister without portfolio in the Ministry of Economic Growth and Job Creation outlined the plan during his sectoral presentation in the House of Representatives Tuesday afternoon.       

     

Dr. Chang says Government is committed to pursuing an aggressive programme to increase production, increase efficiency and reliability, in relation to the NWC, through a share offer.

     

"This government is a firm believer that Jamaicans should have a real stake in their assets. Therefore, a significant amount of a company like the Water Commission could be put on the stock market. This does not mean absolute privitisation of the NWC; the public, represented by the government will have controlling interests, but individual Jamaicans will have a stake in the company," he declared.   

     

He said it will allow the company to have access to cheap multilateral funding and grants, while market forces will determine the efficiency.