Private Sector Organization of Jamaica, PSOJ President, Howard Mitchell, is welcoming the recommendation that Petrojam be turned over to a private sector entity on a long-term lease.
The recommendation was made by the Christopher Zacca-led Petrojam Review Committee, PRC, in its report on the state-owned oil refinery.
The report was released last Friday.
Mr. Mitchell is also calling for provisions to be made for the public to eventually be able to purchase shares in Petrojam.
The PRC recommended that Petrojam be leased to the private sector within the next two years.
But, Mr. Mitchell is skeptical about whether that timeline will be met.
The President of the Jamaica Manufacturers’ and Exporters’ Association, JMEA, Richard Pandohie, says he too supports the PRC’s recommendation to lease Petrojam to the private sector.
He says that’s the best place for the entity.
Mr. Pandohie was speaking this afternoon with Nationwide News.
However, he’s expressing concern about the possibility of the refinery being shuttered and operated as a import export terminal.
He says value added is the way forward for Jamaica, not importation.
Meanwhile, Mr. Pandhoie also supports the call by the Petrojam Review Committee, to have an independent regulatory framework to oversee the pricing of fuel.
Energy Minister, Fayval Williams, this afternoon tabled in the House of Representatives the report prepared by the Christopher Zacca-led Petrojam Review Committee, PRC.
Opposition Spokesman on Energy, Phillip Paulwell, responded.
He called for the National Energy Council and Parliament’s Economy and Production Committee to review the report.
Paulwell told the House that he’s pleased that there’ll be consultations before the government decides whether to act on the recommendation that Petrojam be leased to the private sector on a long term basis.
Chevon Campbell contributed to this report.