Petrojam Mess … PM Moves Quickly …

The PM Michael Andrew Holness evidently stung by the public outcry emanating from the findings of the Report of the Auditor General  on Petrojam, which was tabled in Parliament last week.  This report has uncovered gross mismanagement as revealed in Vision.  Read our poetic perspective and related perspective “Oh What A Cake”. .. already posted and is a must read.

At a hastily convened press Conference today which started later than scheduled . ..  the PM has been using the fallout at Petrojam to take long overdue corrective actions to stem the runaway train.  From before 2011 there have been numerous reports outlying deficiencies at the State owned Petrolium facility (Petrojam). Petrojam was taken over by Former PM Phillip Edward George Seaga.

Seaga’s vision is being bastardized … what a pity.

1) Minutes of board meetings will be sent to Permanent Secretary …

2) PS fell down on the job as it relates to supervision at Petrojam

3)Minister Wheatley did not perform creditably in his role as the responsible minister. Lack is oversight by him.

a) Quartely meetings of board chairmen and portfolio minister and half yearly meetings of board/chair etc.

4) Civil action to be taken to recover funds believed misallocated (stolen). Also 600, 000 barrels of oil unaccounted for (missing/stolen).

5) Pricing Mechanism to be made more transparent  … independent body to examine same with Consumer Representative on same. (CAC)

Forensic Audit to be done of missing 600, 000 barrels.

6) The PM says “100 million dollars allocated for the Vacuum Distillation Unit is to be returned to the Finance Ministry as it is not being used. This fund will be used  where it is needed more.’

Further details will be supplied as it comes to us. Stay tuned to Vision for the latest on politics in Jamaica and elsewhere.

Public divestment of Petrojam is still on the cards but not immediately, stated the PM.

We at Vision endorse these plans/actions as they are long overdue for good governance.