Sat | Nov 17, 2018

New Jamaican directors appointed to Petrojam board

Published:Tuesday | June 19, 2018 | 4:11 PM

Cabinet has approved the appointment of three new Jamaican directors to the Board of Petrojam, the state-run oil refinery.

They are Paul Hoo, a former Chairman of Supreme Ventures Limited, and Rosie Pilner and Wayne Powell, who are both former vice presidents at Scotiabank Jamaica.

The previous board members reportedly resigned yesterday amid grounding outcry about operations at the oil refinery.

Petrojam is owned by the Jamaican and Venezuelan governments, with each country having three seats on the board.

A Office of the Prime Minister (OPM) statement this afternoon indicated that Cabinet last night discussed the issues regarding Petrojam that it said are of concern in the public domain.

READ: Board Resignations At Petrojam Right Move, More Needs To Be Done - Paulwell

According to OPM, the Cabinet has directed the Cabinet Secretary to task the Permanent Secretary in the Ministry of Science, Energy and Technology to prepare a report on the operations of Petrojam with specific attention to various allegations in the public domain.

"The report is to be ready for the next meeting of Cabinet where it is expected that the Permanent Secretary and the senior management team of Petrojam will attend and present the report,".

Petrojam has been in the spotlight in recent weeks over allegations of nepotism, mismanagement and questionable financial decisions.

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