THE Government, after more than 10 years trying to divest the Petroleum Company of Jamaica Limited (Petcom), has set up an enterprise team for the privatisation of the entity.
“Mr Erwin Jones, chairman of Petrojam, will lead this team. We are currently having a valuation of the company’s assets done and we will announce more as information becomes available,” Energy Minister Phillip Paulwell told Parliament yesterday during his contribution to the 2013/14 Budget Debate at Gordon House in Kingston.
|
Petcom has a service station network of some 28 stations in Jamaica
|
Paulwell, arguing that Petcom has been a strategic asset in the petroleum marketing sector, said he hoped that the entity would remain a strong player in the market. “Again, I encourage local investors to participate in the ownership of this important Jamaican asset,” the minister told the House.
Petcom