Saint Kitts ““ Nevis Discusses Privatization Of Assets

Basseterre, Saint Kitts ““ Nevis – April 17th 2007 (CUOPM)

Privatization of government assets and the approval of concessions in the manufacturing sector were among issues discussed at Monday’s weekly Cabinet Meeting.

Minister of State for Information, Sen. the Hon. Nigel Carty disclosed that in accordance with the policy of the governing St. Kitts – Nevis Labour Party Administration to spur growth in the manufacturing sector and to protect and create jobs in this sector having regard to current pressures of globalization, Cabinet approved concessions for two small local manufacturing companies. These concessions fall under the Fiscal Incentive
Act passed by Parliament several years ago.

Mr. Carty also disclosed that in keeping with government’s policy of privatization of some of its assets, Cabinet engaged in extensive discussions on the way forward.

“Cabinet was able to agree a number of decisions and in the near future, citizens will be updated on the privatization of certain government assets,” said Carty following the Cabinet Meeting under the chairmanship of  St. Kitts and Nevis Prime Minister Hon. Dr. Denzil L. Douglas.

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