The Private Sector Organisation of Jamaica (PSOJ) is urging capable individuals from the private sector to step forward and offer their expertise to serve on public bodies.
The organisation noted that with the launch of the Ministry of Finance and Public Service (MOFPS) Corporate Governance Database of Prospective Directors, they believe the selection process been depoliticised, enhancing professionalism in appointing individuals to serve on public body boards.
“By encouraging their members to serve on these boards, qualified representatives from the private sector and civil society can help manage the country’s resources efficiently. The PSOJ also encourages these entities to provide time off for their employees to attend board meetings, as public bodies play a crucial role in our nation’s governance,” they wrote in a release issued today (June 19).
Furthermore, the organisation is actively encouraging private sector entities to promote registration in the database among their members.
During the launch of the MOFPS Corporate Governance Database of Prospective Directors, Dr Nigel Clarke, Minister of Finance and the Public Service, highlighted the significant role of public bodies, stating that public bodies manage an impressive J$586 billion in revenues, J$568 billion in expenditure, and possess assets totalling J$1 trillion
“These numbers underscore the importance of having qualified individuals serving on public bodies to ensure good governance practices and optimise the country’s benefits,” said the organisation.
To address this need, the PSOJ has been conducting internationally recognised training programmes for individuals aspiring to serve as board directors.
The Organisation said they firmly believe “in the significance of qualified professionals on public bodies and encourages those who have already received training and certification to visit the Ministry’s website and register’.
Camille Facey, Chair of the PSOJ Corporate Governance Committee, also expressed the PSOJ’s satisfaction with the implementation of the Public Body Management and Accountability (Nomination, Selection & Appointment) Regulations 2021.
“This database represents the culmination of a vision for corporate governance. The regulations allow competent, qualified citizens, on whom we’ve done our due diligence, to offer themselves to serve their nation,” said the chairperson.
Facey further emphasised that public bodies affect our daily lives and that effective oversight from well-staffed boards is crucial to ensure the delivery of essential services. She further added that boards should set the tone at the top for honesty, integrity, and accountability.
“The PSOJ remains committed to advocating for good governance and implementing internationally recognised corporate governance best practices. This commitment includes advocating for legislative reforms and policy frameworks that support the effective management of public bodies,” the organisation stated.
They added that they strongly believe in good governance and accountability noting that they are crucial for a thriving democracy.