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Opposition backs decision not to sell Petrojam to private bidder

The Jamaican Government's decision to reject an offer from a private company to buy the state-run oil refinery Petrojam is receiving the backing of the Parliamentary Opposition.

On Monday Foreign Affairs and Foreign Trade Minister Kamina Johnson Smith said the offer was made by the unidentified company to the Petroleum Corporation of Jamaica, Petrojam's parent company, but the government did not think the offer was genuine.

Phillip Paulwell, Opposition Spokesman on Energy, told RJR News he believed the right decision was made.

He also wants the oil refinery to remain a government run entity.

The government recently made a unilateral decision to re-purchase Venezuela's 49 percent stake in the refinery, announcing that it will do so using a special Act of Parliament. 

The controversial decision came in the wake of the Venezuelan Government's failure to invest in much needed upgrades at the plant.



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