← News Fri Apr 11, 2014 - 10:10 am - 0 comments

Petrojam, Customs Haggle Over $3b Claim For Re-Exports

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Petrojam Limited says it is still owed more than US$33 million by the Jamaica Customs Agency, for import duties that should have been refunded at re-export of petroleum products manufactured at its Kingston-based refinery.

The refund claim was first disclosed in Petrojam’s 2011 yearend financial report.

By the calculations of the Financial Gleaner, the claim which has been outstanding for three years, is now valued at J$3.66 billion at current exchange rates.

Published in The Gleaner
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