Jamaica News: Approximately 130 projects have been dealt with through the Public Investment Management System (PIMS) under the Ministry of Finance and the Public Service since its implementation in 2014.
The web-based system screens project proposals from Ministries, Departments and Agencies (MDAs) to ensure that they are feasible and align with the development objectives of the country.
The aim is to strengthen the capacity of MDAs to streamline the planning, execution, monitoring and evaluation of Government programmes.
Executive Director for the Public Investment Management Secretariat (PIMSEC), Douglas Levermore, said there has been “strong and robust use of the system and compliance is encouraging.”
He was speaking at a JIS Think Tank on Wednesday (May 30).
PIMS was implemented through amendment to the Financial Audit and Administration Act, and incorporates all public sector investments including loan and grant-funded projects.
Mr. Levermore explained that the system came into being in an effort to curtail the underperformance of some public investment projects.
It is intended to address the slow rate of project execution, time and cost over-runs, and an overall failure to deliver development objectives in a timely manner.
Mr. Levermore explained that PIMS, which encourages a more strategic approach to the pursuance of public investment projects “is now the framework for the preparation, appraisal, approval and management of all public investments in Jamaica irrespective of the source of funding, procurement and implementation modalities.”
“Through the PIMS, it is hoped that careful selection, sourcing of funding and scheduling of public investment projects will be done, ensuring that the people of Jamaica receive value for money for their public investment projects,” he said.
He noted that public bodies have been sensitised about the system and the process remains ongoing.
He informed that a Public Information Management System is being developed to ensure that there is adequate tracking of projects under PIMS and to ensure 100 per cent compliance.
Mr. Levermore told JIS News that less than 18 per cent of public sector agencies are non-compliant with the legislation, and pointed out that projects put forward by these entities run the risk of not being funded.
“Cabinet is not going to deliberate on a public investment project that has not had the scrutiny of the PIMS committee, so it is possible that the project… would not find its placement in the budget and then have to come back to this system,” he explained.
He advised that every project that goes through the system must have the endorsement of the Permanent Secretary in the portfolio Ministry.
PIMSEC is the key technical body for public investment planning and implementation and provides technical advice to Cabinet through the PIMS committee on investments that are to be included in the Public Sector Investment Programme (PSIP).
Source: JIS News