Paul Hoo Appointed New PetroJam Chairman

Prominent businessman, Paul Hoo, has been appointed as the new Chairman of the state-owned oil refinery, Petrojam.

Mr. Hoo is a co-founder and former Chairman of Supreme Ventures Limited, SVL. The Holness-led Cabinet approved Mr. Hoo’s appointment on Monday.

Two former Vice Presidents of Scotia Bank are the other Jamaican representatives on the board.

They are Wayne Powell and Rosie Pilner.

A statement this afternoon from the Office of the Prime Minister confirmed the appointments.

The OPM says concerns in the public domain about Petrojam were discussed at Cabinet last night.

According to the OPM, Cabinet has directed the Cabinet Secretary to task the Permanent Secretary in the Energy Ministry, Hillary Alexander, to prepare a report on the operations at Petrojam with specific reference to allegations in the public domain.

The OPM says that report is to be ready for the next meeting of Cabinet.

The Permanent Secretary and senior management team at Petrojam are to attend Cabinet next week to discuss their report.

Issues at Petrojam are also being investigated by the Auditor General’s Department.

Dr. Perceval Bahado Singh, Harold Malcolm and Richard Creary resigned as the Jamaican representatives on the board yesterday.

Petrojam has been plagued in recent weeks by allegations of inappropriate and irregular expenditure at the entity.

— 30 —