Energy Minister Fayval Williams says the closure of the Petroleum Corporation of Jamaica (PCJ), will result in savings for Government while improving governance, transparency, and accountability in the energy sector.
Word came last Friday (September 13), that the parent company for the state owned-oil refinery Petrojam is to be closed and its functions absorbed by the Energy Ministry.
This has irked the Opposition, which says the move is ill-advised and could plunge Jamaica’s energy sector into uncertainty, and create a crisis in the sector.
Speaking in parliament this afternoon (September 17), the Energy Minister said the recent decisions by cabinet for new institutional arrangements to carry out the functions of the PCJ, are expected to provide an opportunity to closely align policy development, strategic planning, and execution across the energy sector.
The Energy Minister explained that the move will improve the skill sets that reside within the Ministry.
Mrs. Williams reiterated that the Ministry is being guided by the policy and principles that govern the transformation of public bodies and will be working closely with the public sector transformation unit and the staff of PCJ for a smooth transition into the Energy Ministry.
And the Energy Minister says there is no timeline for the closure of the PCJ as yet.
Mrs. Williams said the Ministry is still in the engagement process.
She was unable to say exactly how much the Government would save by the rationalization of the Petrojam parent organization.
The Minister was also unable to confirm how many workers will be made redundant in the rationalization process.