Petrojam’s management is pushing back against attempts to have it fully disclose it’s pricing mechanism to the public.
Parliament’s Public Accounts Committee, PAC, is calling on the state-owned oil refinery to release the full break down of how it arrives at the price for it’s various petroleum products. Petrojam argues that this could affect the competitiveness of the refinery.
Petrojam’s General Manager, Winston Watson, tried to assure the PAC that it’s pricing is competitive.
His argument? People would buy else where if it wasn’t.
Petrojam this week came under fire for the lack of transparency surrounding it’s pricing mechanism.
It was revealed that the price of fuel is ultimately decided by a committee consisting of only three individuals.
PAC member, Peter Bunting, says he remains unconvinced that Jamaicans are getting value for money from Petrojam and called for a full break down of its pricing. Petrojam’s Logistics and Marketing Manager, Michael Hewett, did not find favour with that suggestion.
Mr Bunting is insisting the country must be made aware of what’s happening.