Petrojam Scandal: Jamaican Government to Table Report on State-Owned Oil Refinery
Government to Make Report Public, Gauge Public Opinion
Prime Minister Andrew Holness has announced that the government of Jamaica will table in Parliament the report of a committee that examined the operations of the state-owned oil refinery, Petrojam, amid a series of scandals over shares and mismanagement.
The report will also be made public, with the government seeking to gauge public opinion and engage the public in a conversation on the matter before making a decision.
Timeline for Public Discourse and Cabinet Consideration
Prime Minister Holness emphasized that the public discourse period will not be unbounded, as the refinery is currently not operating at its fullest capacity.
“This is not an unbounded period of engagements. We have some critical timeline on these things because the refinery is now not operating at its fullest. So we will allow for a period of public discourse, then the Cabinet will consider the ventilated matter and we will come to a decision,” Prime Minister Holness added.
Petrojam Controversy
Petrojam has been embroiled in controversy since last June, when a number of revelations about its operations were aired at Parliament’s Public Administration and Appropriations Committee (PAAC).
Opposition legislators had called on the government to hold the then energy minister, Dr Andrew Wheatley, accountable for questionable management practices at the entity. Wheatley, the then Board, and two senior managers have since resigned.
Recent Scandals
Just earlier this month, another scandal erupted when Venezuela sued Jamaica for the takeover of its shares in Petrojam.
The board of Petróleos de Venezuela (PDVSA), Venezuelan state-owned oil and natural gas company, filed the lawsuit in relation to Jamaica’s “forcible takeover” of its 49 per cent stake in the local oil refinery.
Just hours before the lawsuit, the PDVSA board warned Jamaica to refrain from selling the shares owned by PDVSA in Petrojam. However, Prime Minister Andrew Holness has maintained that the Jamaican Government now owns 100 per cent of the refinery.
Conclusion
The Jamaican government’s decision to table the report and engage the public in a conversation on the matter is a crucial step in addressing the ongoing controversy surrounding Petrojam.
FAQs
Q: What is the government’s plan for Petrojam?
A: The government will table the report of a committee that examined the operations of Petrojam and make it public, seeking to gauge public opinion and engage the public in a conversation on the matter before making a decision.
Q: Why is Petrojam not operating at its fullest capacity?
A: The refinery is currently not operating at its fullest capacity, and the government is working to address the issues surrounding its operations.
Q: What is the status of the shares in Petrojam?
A: The Jamaican Government maintains that it now owns 100 per cent of the refinery, while Venezuela has sued Jamaica for the takeover of its shares.