Added to the mix is the lucrative Port Authority of Jamaica (PAJ) and the problematic National Road Operating and Construction Company (NROCC), formed at the top of this decade to oversee the development of Jamaica's first toll system - Highway 2000, as well as its 20 per cent shares in Jamaica Public Service Company Limited, and Montego Bay Convention Centre.

PAJ, which is run by Noel Hylton, is among the top performers in the Government's portfolio of assets, but last year swung from $1 billion of profit to $6.3 billion of losses - dragged down by debt financing on liabilities of $31 billion incurred from a multiphase expansion programme to grow capacity to 3.2 million TEUs or 20-foot equivalent containers.

The port's debts are projected to climb to $42 billion by fiscal year ending March 2010, notwithstanding efforts a year ago to restructure its balance sheet.

The Port Authority, however, commands revenues of $11 billion to $13 billion annually, and its fixed assets and investment properties command were estimated in 2008/09 at a combined $35 billion, according to the Public Sector Bodies Report 2009/10.

NROCC, which has not turned a profit since inception, while its debts grow, has little room to manoeuvre. Its expenses of $2.7 billion to $3 billion is more than three times its income of $860 million to $1 billion.

Its losses this year are projected at $8 billion, up from a $6 billion loss in 2008/09.

Golding also named other entities for which negotiations are either stalled or are ongoing, including Air Jamaica, Clarendon Aluminium Productions, Norman Manley International Airport, and the Sugar Company of Jamaica.

His list also covered Central Waste Water Treatment Plant, and sporting facilities Sabina Park and Trelawny Multi-Purpose Stadium.

The latter costs about US$25 to $30 million to operate and is not generating income, the PM said.

business@gleanerjm.com