Jamaica News: A performance evaluation process is part of new measures implemented by the Government to monitor the functioning of public Boards.
“We are doing it on a phased basis with 20 public bodies, which are required to do Board evaluations that score the performance of the Boards,” said Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke.
“The intention is to roll it out across the (rest of the) public sector, as what gets measured gets done,” he said.
He was speaking at the Private Sector Organisation of Jamaica (PSOJ) Public Bodies Corporate Governance Awards at The Jamaica Pegasus hotel on December 12.
The Board evaluation is part of new procedures approved by Cabinet earlier this year for the nomination, selection and appointment of Board members to improve corporate governance within the public sector.
Dr. Clarke emphasised the importance of good corporate governance in ensuring public trust in Government.
“Public trust is the only currency that we have. We are absolutely serious about improving corporate governance in the public sector,” he said.
The awards ceremony involved collaboration between the Ministry and the Private Sector Organisation of Jamaica (PSOJ) and recognised and awarded public-sector entities that demonstrate excellence in corporate governance.
The National Health Fund (NHF) was the big winner on the night, walking away with top awards for excellence in public-sector corporate governance; board composition and structure; and best website.
The entity also received prizes in the categories of corporate governance policies, procedures and practices; compliance and disclosure of information.
Other winners included Jamaica Deposit Insurance Company Limited (JDIC) for corporate governance policies, procedures and practices; Ex-Im Bank for compliance and disclosure of information; and Development Bank of Jamaica (DBJ) for risk measurement and management of internal control, as well as best annual report.
Source: JIS News