The National Democratic Party (NDP) administration said it is considering the option of privatizing sections of government.
Government said it would develop a privatization programme to decrease its overall operating costs while hurricane recovery efforts progress.
“The Government is open to the option of privatization as a way to reduce the cost burden on central government whilst improving efficiency and effectiveness of essential services,” the government said in a proposed draft of its recovery and development plan for the British Virgin Islands.
The recovery and development plan seeks to identify short, medium, and longer-term objectives and rebuild the BVI which was impacted by three extreme weather events this year — a tropical wave in August, and two category 5 hurricanes in September.
According to the draft of the recovery plan, government will implement what it calls a ‘state-owned performance framework’ to identify potential privatization candidates.
“Privatization candidates will be reviewed and the viability of bringing these to market in the shortest possible time [will be] consistent with securing value for taxpayers.”
The performance framework would also move to improve government efficiency by reducing the level of grants currently being offered by the state, and eliminating government functions that are ‘no longer required’.
The Dr D Orlando Smith-led government, in the meantime, did not specify what areas of government it is considering to transfer to the private sector.
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