1
INTRODUCTION
1.
The Public Sector Investment Programme (PSIP) seeks to execute the Government’s
national development objectives through viable programmes and projects geared towards
achieving the desired national outcomes. The three-year PSIP, which was reintroduced by
Government in 2013 for the period 2013-2015, outlines a three-year investment portfolio of
capital projects aligned to the Medium-Term Policy Framework (MTPF) 2011-2014, and is the
key mechanism for coordinating the implementation of the medium-term socio-economic policy
objectives.
2.
The 2014-2016 PSIP, which represents the second cycle in the rollout of the Three-Year
PSIP, will continue to focus on achieving greater coherence and effectiveness in the execution of
national development objectives, taking into account the likely availability of financial resources
even in the context of vulnerability of revenue inflows to external shocks, as well as
implementation capability.
3.
Like the 2013-2015 PSIP, formulation of the 2014-2016 PSIP is based on the
prioritisation of projects against key policy measures and strategies as outlined in the MTPF,
which identifies the five (5) Strategic Priorities for socio-economic transformation as follows:
•
Crime and Law and Order
•
Agriculture and Food Security
•
Health Care Services and Hospitals
•
Economic Growth, Job Creation, Competitiveness and Innovation
•
Poverty Reduction and Human Capital Development
4.
The three (3) year PSIP will therefore seek to streamline the portfolio of projects to
ensure:
•
closer alignment with national priorities
•
greater impact on people and communities
•
a reduction of development programme expenditures that have become
characterised as annual requests for disbursements, without due regard to
proper project conceptualisation, feasibility analysis and planning principles
•
a shift in emphasis from isolated projects to long-term integrated investment
programmes formulated with reference to a public investment strategy
determined by national objectives.
5.
Therefore, the overarching purpose of the 2014-2016 PSIP will continue to:
•
be a primary programming tool for identifying and listing specific programmes and
projects as well as activities to achieve broader sectoral goals and targets specified
in the MTPF
•
national portfolio management tool to attract investment
