Petrojam is facing increased pressure to make public its formula for calculating the price of petroleum products.
The Micro, Small and Medium Sized Enterprise, MSME Alliance, says for many of its members, especially taxi drivers, the impact has been devastating and concerns are mounting in the face of persistent questions about the pricing mechanism used by Petrojam.
Their call follows several from Opposition Spokesman on Energy, Gregory Mair who has been strident in his criticisms of the pricing mechanism, labelling it as deeply flawed.
However, despite calls for Petrojam to open up to public scrutiny it has steadfastly remained silent.
President of the Jamaica Solar Energy Association and member of the MSME Alliance, Roger Chang says the information should be made available to dispell doubts that the public is being cheated.
Mr. Chang says he’s now awaiting the outcome of a request for the pricing formula through the Access to Information Act.
He told our newscentre that he decided to go that route after failing to get a satisfactory response from Petrojam’s General Manager, Winston Watson:
Mr. Chang says the MSME Alliance is also questioning whether the concerns raised in two audit reports of Petrojam in 2008 and 2009 have been addressed.
He says among other things the audits said Petrojam’s pricing mechanism is being administered with limited oversight.
The audit pointed out that with Petrojam being one of the market participants it was improper for it to administer the pricing system.
Mr. Chang says the reports also outline a lack of transparency and inefficiencies at the refinery which results in the cost being trickled down to the consumer at the pumps and in their electricity bills.
Yesterday it was announced that motorists would have to pay more for petrol for a ninth straight week as Petrojam hiked prices to just below record levels.
http://rjrnewsonline.com/news/local/petrojam-pressured-over-petroleum-pricing-formula
