Cabinet has given approval for properties owned by the Petroleum Corporation of Jamaica (PCJ) to be disposed of and/or divested.
Making the disclosure during Wednesday’s (June 23) post-Cabinet press briefing at Jamaica House, Minister of Education, Youth and Information, Hon. Fayval Williams, said the decision is in keeping with the Policy Framework and Procedures Manual for the Divestment of Government-owned Lands.
She said the decision will see PCJ properties in Font Hill, St. Elizabeth, being directly transferred to the Urban Development Corporation (UDC) for its use.
In addition, a property located at 36 Trafalgar Road in St. Andrew will be rented at rates to be negotiated in the short-term.
The Minister said the activities are in line with a Cabinet decision in August 2019, where it was agreed that the core functions of the PCJ are to be integrated into the Ministry of Science, Energy and Technology.
“The ongoing winding up of the operations of the PCJ is consistent with the effort of the Government to rationalise public-sector bodies,” she noted.