Centralised Treasury Management System takes effect April 1

first_imgCentralised Treasury Management System takes effect April 1 Finance & Public ServiceNovember 20, 2012 RelatedCentralised Treasury Management System takes effect April 1 RelatedCentralised Treasury Management System takes effect April 1 Advertisementscenter_img FacebookTwitterWhatsAppEmail Finance and Planning Minister, Dr. the Hon. Peter Phillips, says effective April 1, 2013, overall management of public sector finances will be undertaken through the newly instituted Central Treasury Management System (CTMS). The CTMS is a critical component of the Government’s Economic Reform Programme (GERP), which will be used to effect the management of: cash; Government’s bank accounts; financial planning and forecasting of cash flows; public debt management; administration of foreign grants and counterpart funds from international lending and donor agencies; and financial assets management.   Speaking at a recent Kingston Rotary Club luncheon, at the Jamaica Pegasus Hotel, New Kingston, Dr. Phillips informed that work on the CTMS, “which has been underway for a long time” has been completed and “is now in operation, albeit for only a section of government operations”. “By the 1st of April 2013, the entire public sector, Central Government and the agencies, will operate on the basis of a Central Treasury Management System with a Central Treasury Account being operated out of the Bank of Jamaica (BoJ)…rather than borrowing our own money from the private commercial banks, because of the amounts being held in deposit there,” he outlined. This, he explained, should result in savings to the Consolidated Fund of “hundreds of millions of dollars”, and is a “critical element of any move towards increased efficiency in financial management within the public sector”.  The CTMS has already been implemented in the Ministry of Finance and Planning, one of four Ministries and Agencies earmarked for pilot projects. The others are: the Ministries of: Education; and Transport, Works and Housing; and the Accountant General’s Department. Meanwhile, Dr. Phillips informed that a basic study being undertaken on tax waivers and concessions is in the “final stages” of completion by consultants contracted to undertake the exercise, with support provided by the Inter-American Development (IDB).  “We are now moving to the stage where a new…Omnibus Legislation…and a new policy on waivers on incentives, will be settled,” the Finance Minister said. RelatedCentralised Treasury Management System takes effect April 1last_img read more

Amphetamine use may affect sexual function in men

first_imgThe study of 1159 males found half of participants said drug use had no impact on their sexual functions, while the other half reported impacts such as reduced erectile rigidity and sexual satisfaction, enhanced orgasmic intensity, and delayed ejaculation.“Although some drug users reported that drug use had positive effects on their sexual functions, there were also negative effects, especially in the areas of erectile rigidity and sexual life satisfaction. Prolonged ejaculation latency time was often reported; however, there were also subjects reporting shortened ejaculation latency time,” the study found.(Photo credit: Alex Dodd) Pinterest LinkedIn Share Share on Twittercenter_img A cross-sectional study suggests illicit use of amphetamine has various consequences for male sexual function.Amphetamines are a group of drugs that stimulate the central nervous system and contain ingredients such as amphetamine, methamphetamine, methylphenidate, and 3,4-methylenedioxymethamphetamine (“Ecstasy”).“Compared with 211 matched controls, amphetamine users were twice as likely to experience erectile dysfunction,” said Dr. Bang-Ping Jiann, senior author of The Journal of Sexual Medicine study. Share on Facebook Emaillast_img read more

England slam Windies again

first_imgBASSETERRE, St Kitts (CMC): England needed just two hours and 23½ overs to dispose of West Indies by eight ­wickets in the third Twenty20 International at Warner Park and complete a ruthless whitewash of the world champions yesterday. For the second straight match, West Indies capitulated meekly, this time for 71 off 13 overs – their third-lowest T20 International total – after choosing to bat first. In Friday’s second match at the venue, they perished for 45, the second-lowest total in the format. Once again, the Windies batsmen showed a lack of discipline, and only four players reached double figure with opener John Campbell, ­captain Jason Holder and Nicholas Pooran all scoring 11, and last man Obed McCoy getting 10. The Windies were undermined by left-arm seamer David Willey, who produced career-best figures of four wickets for seven runs to claim Man-of-the-Match honours, while speedster Mark Wood claimed three for nine and leg-­spinner Adil Rashid, two for 18. England, in reply, wasted little time in reaching their target off 63 balls, with opener Jonny Bairstow blasting 37 off 31 balls, striking four boundaries and a brace of sixes. He put on 28 with Alex Hales (20) for the first wicket before adding a further 32 for the second wicket with Joe Root, who ended on four not out. Dropped on 18 by Shimron Hetmyer off seamer Holder in the seventh over, Bairstow cleared the ropes at deep square leg in the same over before putting left-arm spinner Fabian Allen out of the park in the following over. With just 11 runs needed for victory, he was bowled in the ninth over off the first ball of Devendra Bishoo’s opening over, but captain Eoin Morgan (10 not out) ended the match in the leg-spinner’s next over with a straight hit for six and a sweep to the backward square boundary off consecutive deliveries. The series defeat was a disappointing end to an otherwise outstanding performance by the hosts, who stunned England 2-1 in the Test series to regain the Wisden Trophy before coming from behind to level the five-match one-day series, 2-2, against the world No. 1 side. WEST INDIES +S Hope c Hales b Willey 0 J Campbell c Denly b Willey 11 S Hetmyer c Jordan b Willey 8 D Bravo c wkp Bairstow b Willey 4 *J Holder c Jordan b Denly 11 N Pooran c Jordan b Wood 11 F Allen b Rashid 7 C Brathwaite c wkp Bairstow b Wood 0 D Bishoo not out 3 S Cottrell b Wood 4 O McCoy b Rashid 10 Extras (b1, w1) 2 TOTAL (13 overs, all out) 71 Fall of wickets: 1-0 (Hope), 2-10 (Hetmyer), 3-24 (Campbell), 4-24 (Bravo), 5-45 (Holder), 6-48 (Pooran), 7-54 (Allen), 8-56 (Brathwaite), 9-60 (Cottrell), 10-71 (McCoy) Bowling: Willey 3-0-7-4, Curran 1-0-8-0, Jordan 2-0-14-0 (w1), Denly 2-0-14-1, Wood 3-0-9-3, Rashid 2-0-18-2. ENGLAND A Hales c Campbell b Holder 20 +J Bairstow b Bishoo 37 J Root not out 4 *E. Morgan not out 10 Extras (w1) 1 TOTAL (2 wkts, 10.3 overs) 72 Did not bat: J Denly, S Billings, D Willey, T Curran, C Jordan, A Rashid, M Wood. Fall of wickets: 1-28 (Hales), 2-60 (Bairstow) Bowling: Cottrell 1-0-16-0, Allen 4-1-25-0, Holder 3-0-19-1 (w1), Bishoo 1.3-1-11-1, Campbell 1-0-1-0. Result: England won by 8 wickets Series: England won three-match series 3-0. Man-of-the-Match: David Willey. Man-of-the-Series: Chris Jordan. Toss: West Indieslast_img read more