Government plans to sell Petcom

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The Jamaican Government is proceeding with plans to sell the State-owned company, Petcom.

Petcom, which is a subsidiary of the Petroleum Corporation of Jamaica, comprises 24 service stations and 14 LPG filling plants, island-wide.

Information Minister Senator Sandrea Falconer disclosed at Wednesday's post Cabinet media briefing that the divestment is scheduled to be completed by September.

Cabinet has approved the establishment of an enterprise team, "to coordinate, manage and execute the privatization of Petcom, and provide the requisite administrative and technical support," she disclosed.

The Enterprise team will be chaired by Professor Edwin Jones. The other members are Christopher Cargil, Christopher Lecky, Richard Dawkins, Narine Small, Catherine Williams, and Coleen Weise.

Petcom recorded more than $10 billion in revenues last year.