Prime Minister Andrew Holness says Government will privatize its 19 percent stake in the Jamaica Public Service Company (JPS).
According to Prime Minister Holness, putting the Government’s shares in JPS on the stock market will broaden the ownership base and increase the value of the light and power company.
The Prime Minister made the comments while addressing the Jamaican / Korean Association, on Sunday, October 6, in Korea.
A Korean company owns 40 percent of the shares in JPS and the Prime Minister acknowledged that.
He said, “The Government owns 19 percent of JPS and the Government intends to place that 19 percent on the stock market and will be selling those shares. So, the ordinary Jamaican will be able to participate and buy those shares and I am certain that that is going to increase the value of the company. So, if you are here in Korea lookout for it, you might want to participate and buy some shares in JPS.