House advances JSE micro market, Alpart reopening and mediation legislation

The House of Representatives resumed on Tuesday, 7 July 2026, with Speaker Juliet Holness presiding and students from Sam Sharpe Teachers' College among guests in the gallery.

Finance Minister Dr Nigel Clarke told the chamber the Jamaica Stock Exchange micro market launched on 23 June 2026, creating a formal channel for micro and small enterprises to raise equity capital between $50 million and $100 million. An initial group of 25 businesses that completed the Jamaica Business Development Corporation accelerator programme is lined up as early candidates. Clarke said a stock market sandbox will prepare firms for reporting and governance duties before listing. He contrasted the junior market's growth from a $785 million valuation at inception to a peak of $148.5 billion with unemployment at 3.6 per cent as at 31 March 2026, down from 11.4 per cent when that market opened in April 2009.

Opposition MPs welcomed the micro market but urged simpler access to Development Bank of Jamaica support and faster rollout of an MSME procurement set-aside. Clarke said registration workshops had begun, including in Montego Bay, and expected full implementation within six to eight months. Members also raised questions on enterprise classification, equity market performance, and clarity on short-term rental tax rules.

Agriculture Minister Floyd Green reported that JISCO, which acquired Alpart in 2017, will proceed with a two-phase modernization aimed at restoring roughly two million tonnes of annual alumina output. Phase one, costing about US$490 million, targets one million tonnes and could see construction start before the end of 2026, with an official relaunch before June 2027. Green said talks in China with JISCO and Gansu province leaders secured written commitment after years of suspended operations that had affected workers and communities across St Elizabeth and Manchester. He cited US$8 million spent on reclamation equipment, progress on 350 of 1,233 required land titles, and about 149 million tonnes of associated bauxite reserves. Opposition members questioned past missed timelines and asked what action government would take if deadlines slip again. Green said mining would not extend into Cockpit Country and that dust controls had improved in southeast St Elizabeth.

The House also debated the Mediation Act 2026. Health Minister Dr Christopher Tufton backed the bill, noting that of 33,081 injuries recorded in 2024 through the Jamaica Injury Surveillance System, nearly 7,000 were violence-related, including almost 2,000 cases of violence against women. Justice Minister Delroy Chuck said registration requirements would chiefly apply to paid mediators and those referred by the courts, while community mediation could continue informally. Opposition members proposed amendments on residency tests, penalty defaults, mediator age, and automatic enforcement of agreements. Committee-stage changes are expected next week before the sitting adjourned.