National Statistical System Critical To Policy Making CommerceMay 3, 2012Written by: Athaliah Reynolds-Baker RelatedNational Statistical System Critical To Policy Making FacebookTwitterWhatsAppEmail RelatedNational Statistical System Critical To Policy Making RelatedNational Statistical System Critical To Policy Making Advertisements Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, has endorsed the move to establish a National Statistical System (NSS), noting that it will, undoubtedly, support the government’s thrust towards data-driven and evidence-based policy making.Mr. Hylton said he hopes this model will also be replicated throughout the region with the eventual establishment of a regional statistical system, which would serve the needs of CARICOM member states.He was speaking to members of the manufacturing and distribution sectors on May 2 at a Statistical Institute of Jamaica (STATIN)-organised workshop held at the Jamaica Pegasus Hotel in New Kingston.The workshop, under the theme ‘Promoting Development through better Statistics: A Public-Private Partnership,’ was held to shore-up private sector support for the development and implementation of the NSS, to promote the use of statistics in business/enterprise development, and the urgent need for the production and management of a sound statistical system in Jamaica.The NSS project, or the ‘Support for the Development of a National Statistics System’ programme, is being implemented by STATIN with financing assistance from the United Nations Development Programme (UNDP). The project is being funded at a cost of US$692,000 over a three-year period.Minister Hylton told stakeholders that better statistics are required to inform policies, allocate scarce resources, monitor progress, to evaluate business effectiveness and to make evidence-based decisions.He noted that government policies cannot be based on anecdotes, fragments of data, or speculation derived from spurious data analysis, but must be founded on hard facts and evidence.“Policies that impact the process of economic development must all obey the principle of being grounded in facts,” he stated. “We must adopt a scientific and evidence-based approach towards the decision-making process.”He also remarked that the aspired outcomes of the government’s Vision 2030, National Development Plan, critically demand the use of evidence-based decision making“The economic development process is shaped by policy decisions that govern the management of resources. Constant pressure from a variety of competing interests influences policy formation and decision making,” he said.The NSS programme will see the development of a coherent system geared towards providing quality and timely statistics and data that effectively meet the needs of stakeholders.The data will also inform the development of capacity and institutional structures and systems to support the system, increase business profitability and reduce poverty. Story HighlightsMinister of Industry, Investment and Commerce, Hon. Anthony Hylton, has endorsed the move to establish a National Statistical System (NSS), noting that it will, undoubtedly, support the government’s thrust towards data-driven and evidence-based policy making.Mr. Hylton said he hopes this model will also be replicated throughout the region with the eventual establishment of a regional statistical system, which would serve the needs of CARICOM member states.He was speaking to members of the manufacturing and distribution sectors on May 2 at a Statistical Institute of Jamaica (STATIN)-organised workshop held at the Jamaica Pegasus Hotel in New Kingston.
© Vladimir Serebryanskiy Zim’s president and chief executive, Rafi Danieli, said the fourth-quarter results were achieved through a successful efficiency plan and costs reductions across the carrier’s network.“In spite of the very challenging market conditions in 2016, our results continued to improve,” added Mr Danieli. “We continue to improve Zim’s network and to react rapidly to changing market conditions.”Despite reporting a 3.9% increase in volumes in Q4 and a 5.4% increase over the year, Zim continued to struggle with low rates – reflecting the general market performance.Zim’s average freight rate per teu last year was $902, 19.9% down on 2015, which resulted in a 15.1% drop in revenue, from $2.9bn to $2.5bn.The carrier managed to redress this in Q4, increasing rates by 3.2% quarter-on-quarter to $915 per teu, which also resulted in a 1.5% upturn in revenue to $653.5m, compared with $643.9m in Q3.However, this was still down 7% year-on-year, with Q4 2015 rates of $988 per teu.Next month the carrier will introduce an upgraded network, with additional services on the Asia-US, Asia-Med and Med-US trades. Mr Danieli said this would help it respond to the changes in the major alliances.Chief executive of SeaIntelligence Consulting, Lars Jensen, noted that Zim had become yet another carrier to post a positive result for Q4 2016.“It appears a straightforward choice has been made by the Israeli carrier: drop the focus on market share and focus on yield management,” he said. “Total volume increased 3.9% in Q4 versus a global market growth of 5.8% – furthermore, this was in a market where more than 1m teu of previously Hanjin-controlled cargo was ‘up for grabs’.”Mr Jensen added that while this represented a reduction in global share, it had resulted in the about-turn from a Q3 loss to a Q4 profit.Cuts made to the network made a huge dent in the carrier’s earnings before interest, tax, depreciation and amortization (EBITDA), which plummeted from $204m in 2015 to just $49.9m. A strong end-of-year for Israeli shipping line Zim was not enough to offset damage caused by the March/April container shipping rate war .The carrier reported a 2016 loss of $163.5m – a massive 2,615% decline on the year before.Despite this, there was cause for optimism in the final two quarters of the year, with Q3 seeing year-on-year losses cut in half and in Q4 the carrier sailed back into the black, with a $4.6m net profit.The final quarter upswing compared favourably with the last three months of 2015, which saw Zim haemorrhage $27m – it also ended an unhappy trend of back-to-back Q4 losses. By Alexander Whiteman 03/03/2017