Gov't allocates $38 million for forensic audit into Petrojam oil losses

Jamaica’s Finance Minister Dr Nigel Clarke has announced that $38 million has been set aside for a forensic audit into oil losses at the state-owned oil refinery Petrojam.

The money has been allocated to the Auditor General’s Department in the first Supplementary Estimates tabled in the House of Representatives now being debated in the House of Representatives.

In December, Prime Minister Andrew Holness announced that he had ordered a forensic audit into the $5 billion unaccountable oil losses at the refinery.

There was outrage last year when the Auditor General reported that in five years, Petrojam had not been able to account for 600,684 barrels of oil worth $5.2 billion

At the time, the Opposition demanded a wider audit.

READ: Widen forensic audit at Petrojam, says Phillips

Petrojam has been under intense scrutiny amid corruption allegations involving questionable spending and hiring practises.

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