Stratospheric energy prices

Jun 18 2022

The tormented petrostate is losing the full benefit of soaring energy prices, the highest in almost a decade.. Latest figures from the Ministry of Energy show average oil production under 60,000 barrels of oil per day and natural gas production at 2.72 billion standard cubic feet per day (bscf/d).

The production figures, two months behind,. show that while crude output averaged 59,725 bo/d there was a decline on each of the first three months of the year. January average daily crude output of 61,678 bo/d, declined in February to 59,406 bo/d and further fell in March to 58,059 bo/d. The decline is partly caused by small changes in the production from Heritage Petroleum, Perenco and bpTT. At different months the production from each of the three entities fluctuated and caused the overall fall in crude production.

In natural gas production, the trend is the same as crude oil with declines each month for the first three months of 2022. In January natural gas production was 2.870 bscf/d, it then fell to 2.769 bsc/d in February and to 2.520 bscf/d in March 2022. Lower natural gas production for the first three months was a result of lower production out of the largest producers, Shell and bpTT.     Shell output fell from 638 million standard cubic feet per day (mmscf/d) in January to 591 mmscf/d in February and 442 mmscf/d in March. bpTT production fell from 1.391 bscf/d in January to 1.245 bscf/d in March. The other producers remained relatively stable.

Lower natural gas production has a direct impact on the downstream and LNG sectors with lower natural gas utilisation from all of the productive companies. Ironically the only sector with higher gas usage was in power generation, subsidised by the government.
More gas is being used that will cost government money while it reduces government revenue from the lack of sale of the natural gas that government is subsidising in higher quantities.
The higher power generation usage is a direct result of a decision by T&TEC to reduce the amount of power it takes from TGU and increase its take from the two other power producers, Trinity Power and Powergen. The challenge is that Powergen and Trinity are both less efficient in power production and utilise more molecules to generate power than TGU. T&TEC’s decision was based on its fear that there could be another island-wide blackout if it continues to rely mainly on TGU for power. The Minister of Public Utilities has said it cannot continue and the NGC has been concerned about its inability to sell that gas to ammonia producers instead of T&TEC which owes it billions and cannot repay debt.

The figures shows a decline in the amount of gas being used in ammonia production from 509 mmscf/d in January to 458 mmscf/d in March. Methanol usage fell from 589 mmscf/d in January to 508 mmscf/d in March. LNG declined from 1.344 bscf/d in January to 1.163 bscf/d in March while power generation surged from 228 mmscf/d to 262 mmscf/d.

Divestment alone can curb incestuous behaviour of state bureaucracies bleeding the industry dry.

 

 

Pointe-a-Pierre

Acting prime minister Colm Imbert continued the negative narrative of state energy- no date for the restart of the Niquan plant in Pointe-a-Pierre, no date for the start of the Paria Commission of Enquiry (CoE) and no agreement for the acquisition of state oil company Petrotrin’s Pointe-a-Pierre refinery.

He gave these responses to questions from the Opposition in the House of Representatives. On April 14, Niquan was given approval by the Energy Ministry “for reintroduction of natural gas to the facility.”

This was for the primary purpose of lighting the flare pilot burners and producing medium pressure steam, using the auxiliary boilers for cleaning lines after the shutdown followed an explosion last April.

The ministry gave approval on June 3 “for the introduction of fuel gas only for the reformer burners for conducting refractory dry out.”

Niquan wrote the ministry on June 3 for permission to start commissioning activities at the plant. Once the ministry gives approval, it could take one month for those activities to be completed.

“Approval for commencing entry of process gas has not yet been granted by the Ministry of Energy and Energy Industries.”

In response to questions from Pointe-a-Pierre MP David Lee about consultations with residents about the plant’s start up, Imbert said, “Not being a psychic, it was not possible to anticipate that the member (Lee) would ask about the Environmental Management Authority (EMA). They (Niquan) are testing the facility.”

Imbert was certain there would be proper communication with nearby communities regarding the plant’s full restart.

Imbert reminded MPs of the statement he made on  the Paria CoE, in the House on May 23. After the procedural hearing stage of the inquiry is concluded, an announcement will be made by commissioners as to the proposed commencement date of the evidential stage of the inquiry.

The procedural hearing is scheduled for August.

On the refinery, he said: “Of the three final bids received for the sale or lease of the refinery, a preferred bidder has been identified.”

Petrotrin’s successor, Trinidad Petroleum Holdings Ltd (TPHL) and its advisors are involved in final due diligence conversations and continued negotiations with this bidder.

“Upon the satisfactory completion of these conversations and discussions, an official letter of award will be issued to the preferred bidder.”

Imbert expected this process to be completed this month.

“Once a formal letter of award has been issued, we will be in a position to officially, publicly announce the identity of the preferred bidder and the nature of their bid. I prefer not to say anything more at this stage because negotiations are continuing.”

 

 

Senate passes Finance Appropriation Bill

The Finance (Supplementary Appropriation) (Financial Year 2022) Bill, 2022 passed in the Senate following eight hours of debate. The bill, as is customary, did not pass a committee of the whole Senate. Following the debate, the bill was read a second and third time and then passed.

Acting Prime Minister and Finance Minister Colm Imbert, piloting the bill, said an extra $26.7 million was allocated to the Office of the Prime Minister (OPM) for child care and protection. This included $23 million to the Children’s Authority, $3 million to St Jude’s Home, $1 million for non-profit institutions/children’s homes, $289,000 to St Dominic’s Home, and $500,000 for the Cyril Ross Home.

$59 million to the OPM would fund a commission of inquiry into land acquisition for the Solomon Hochoy Extension, pay contract officers in the Division of Gender Affairs, pay arrears to TSTT and TTEC and fund staff training at the Communications Division and media adverts. $60 million to the THA will pay the National Helicopter Services to transfer patients to Trinidad for critical tertiary health-care.

The Office of the Attorney General would get $79 million to fund new polymer certificates of births and deaths and similar matters, salary arrears for contract officers and fees and gratuities to attorneys and accountants. $20 million to the Ministry of Tourism and Culture will help repay a $100 million loan to fund artistes and pay bills.

Opposition Senator Jayanti Lutchmedial proposed tighter controls and greater oversight of expenditure. She said government should not be shocked about the revelations about children’s homes as previous administrations had approached the Privy Council to challenge whether children could be housed in adult prisons.

Independent Senator Hazel Thompson-Ahye said that non-payment of bills to schools, such as to bus drivers and the feeding programme, was neglect on the part of government.

AG Reginald Amour reported on the ongoing project of digitisation of the Registrar General’s Department, which was funded by an IDB loan. He corrected an error made in the House, saying that former senior counsel Russell Martineau and associated attorneys were paid $415,815.63 for legal fees, not $790,000 as previously stated. He was examining senior citizens fraud.

Wrapping up the debate, Imbert said TT had seen growth in nominal GDP, used by rating agencies to measure debt to GDP ratio, of $40 billion in GDP since 2020. GDP data could be found on the CSO website from 2012. The energy sector contributed 25 to 30 per cent of GDP.

The fuel and LPG subsidy for 2022 will cost government over $800 million. The last withdrawal from the Heritage and Stabilisation Fund was in July 2021. The last time government went to local and foreign markets to borrow was December 2021. Petrotrin was not profitable and still owed government $3 billion in royalties and taxes, while government had to guarantee loans of $3 billion to pay for losses on operations of the refinery.

Government will use unexpected additional revenue from high energy prices, for paying the pricipal, to reduce the budget deficit, deposit funds in the HSF, clear existing debts and arrears, up to $641 million, with additional funding for praying down the principal of loans. The recently announced long term government guaranteed loan facility for MSMEs, will be launched in two months.

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War Windfall

In the Senate debate on the Mid Year Review to supplement the 2022 budget by $3 billion, Opposition Senator Wade Mark scoffed at Finance Minister Colm Imbert’s boast of high revenues for the State, saying these were not due to Government efforts but were the fallout of the Russian invasion of Ukraine. To describe the economy, Imbert should have cited real GDP, not nominal GDP, (the latter which is not adjusted for inflation.)

“The boost of revenue is due not to plans, not to strategy, not to any kind of economic activity dealing with new streams of revenue. It has nothing to do with the attraction of foreign direct investment by this Government. It has only to do with the war in Ukraine. So if it is anybody we should be thanking, it is maybe Vladimir Putin in Russia. “

Saying the ammonia world price had sky-rocketed from US$182 to US$1,200 per metric tonne, Mark said extra revenues now seen had nothing to do with the “intellectually-bankrupt Government.”

He argued his point by saying oil production had failed to meet projected levels of 83,000 barrels per day but now lagged at 60,000 bpd. Likewise, natural gas production was not at an anticipated rate of 3.3 billion cubic feet per day but only 3.0 bcf. Pointe-a-Pierre refinery was now in its fourth year of shutdown and was fast becoming scrap iron, while globally refineries were now “making money hand over fist.” Despite Imbert’s boast, citizens still cannot get even US$200 in foreign exchange.

If GDP was now so great, the Government should properly pay public sector workers. Of the extra $3 billion in the Mid Term Review, Mark asked, “How will this percolate down to the ordinary citizen?”

He warned against living in a fool’s paradise.

“I gave you the assurance that if there is a peace agreement between Ukraine and Russia, we are back to square one. Let’s be real. This is a house of cards that can crash any time.”

He denounced a $100 million allocation to a proposed Secondary Roads Rehabilitation and Improvement Company which the Opposition had not found on companies register. “They can’t approve $100 million to a company that does not exist. We want clarification from the Government.”

He urged the Government to ease the financial burden at the fuel pump and in buying food which has become more costly due to fuel-price hikes. In 2020, TT imported 2.4 billion litres of refined oil (premium, super and diesel) but had used only 1.1 billion litres. He suggested the difference, amounting to 1.3 billion litres, was being re-exported and asked the Government to say if such an amount was being sent to Venezuela in breach of international sanctions.

Minister of Public Administration Allyson West later chided Mark for his remark on Ukraine and Russia, viewing it as flippant and insensitive.

“Try to be more sensitive to suffering, not congratulate the leaders involved.”

Opposition Senator Jearlean John defended Mark.

“.., unfortunately I too would have felt .. the kind of optimism coming from the Government’s bench, had it not been – and it has been spoken here – that this is as a result of this unfortunate war. I can’t say I heard Senator Mark particularly celebrating this. He was just stating a fact.”

John lamented that “something terrible happened” at children’s homes but more money was being allocated to them without accountability. The Judith Jones report laid in Parliament, revealed sexual, physical and emotional abuse of wards of children’s homes nationwide.

“There seems to be no end to this totally unacceptable state of affairs. Children are starved… beaten, and even worse.    It .. might be better for them to sit down in Woodford Square – they might be safer.”

She deplored 800 non-working CCTV cameras, kidnapping and rape of a 22 year old Venezuelan girl in the Heights of Aripo. Urging the repair of cameras, John said, “It will give young women a fighting chance. At least you will see a car number.”

 

 

Petrochemicals to the rescue

May 19 2022

Presenting the Mid-year Budget review, Finance Minister Colm Imbert admitted the petrochemical sector has been a life jacket for the economy. Imbert told the Lower House that the increase in government revenue for the first six months of the fiscal year was due to higher than anticipated receipts of taxes on incomes and profits of $3.2 billion.

“If we drill into the figures, we find that the good performance on taxes on incomes and profits was due to higher than projected receipts collected from other companies and that category includes the petrochemical companies which are proving to be a significant.. life jacket, due to the considerably increased prices of petrochemicals.”

“Those who monitor these things would see that the prices of petrochemicals, ammonia, methanol, urea, etc have doubled, tripled and quadrupled over the last couple years and the taxes from the petchem companies is a direct correlation with the prices of the end product, the petrochemicals, the methanol and so on. So we have had a significant boost from the petchem sector.”

US ammonia prices increased from US $487 per tonne in 2020 to US $746 per tonne in 2021, increasing US $259 per tonne, or a 53 per cent increase. The last time the anhydrous ammonia price was above $746 per tonne was in June 2014. The price for ammonia in the US market is now over US $1,400 a tonne.
One week ago prices were US$1,425 per tonne and has been at that level since the start of May.    While not as stellar with methanol, the prices are extremely strong, all good news for the country and the Minister of Finance.

According to Methanex, one of the world’s largest methanol producers, its North American methanol prices have risen from US $276 in September 2020 to US $639 per tonne as of May 1, 2022.

Revelations of the petrochemical sector as a life raft are in keeping with the argument that were contained in the Poten and Partners Natural Gas master plan which advised government that the country earns more per molecule of natural gas from the petrochemical sector than it does from LNG. Therefore, according to Poten and Partners, priority for natural gas should be the downstream sector and not LNG.

The government taxes the petrochemical sector at 35 per cent corporation taxes, higher than the 30 per cent it charges other companies and the same as what the banks pay. Unlike banks, however, the petrochemical companies also pay their taxes on profits t in US dollars, significantly helping government with much needed foreign exchange and the general small open economy with the hard currency to remain sustainable.

With the exception of the Caribbean Gas Chemicals Methanol Plant, the petrochemical sector is mature and, therefore, not enjoying tax holidays.  High petrochemical prices also help government by getting higher taxes at the well head from the natural gas producers as some of the well head prices are indexed to petrochemical prices.

NGC gains by increasing its profits, leading to higher government taxes on profits and larger dividend payments.

While no one expects extraordinary prices to remain high in the long term, the CEO of Methanex John Floren is predicting continued strong prices for methanol for the next two quarters or for the rest of the financial year.

Floren was asked during an earnings call in Canada what is the real value of methanol at the moment and said, “I think there are numbers we always watch -one is the MTO (methanol to olefin) that’s the one on the affordability curve, the one that gets impacted first.

“In the high-priced energy environment that we are seeing today, that is also very good for olefin prices because they are obviously paying more for naphtha today than they would have been this time last year, so that slipped into the cost curve nicely, so the MTO producers are running like 95 per cent today so unless you saw a huge correction in olefin prices then that would mean energy prices falling quite a lot from where they are today I think we are going to be fine on the demand side.”

He acknowledged a lot of negative sentiment in the market with lockdown in PRC and inflationary pressure but when Methanex looks at its supply/demand balance it feels demand is holding up.

“MTOs are running well, high energy prices make the other energy applications very, very attractive for methanol, so we expect demand to continue to grow and we are watching it very closely and we have visibility throughout the globe…and we are not seeing any impact on demand.”

There is likely to be a number of planned outages and there was already a plant in T&T that is down. This will lead to a continued favourable supply/demand balance for Methanex.  Prices have been beyond the cost curve and part of that is due to constrained global Methanex supply.

Methanex saw the restart of its idled plant in Trinidad as one area of growth in production for the company and was hopeful that it could be restarted. The company wanted to ensure it would get gas at a price that it can sustain throughout the cycle and was in discussions with the government to finally restart operations.

Floren revealed that the government told Methanex that it wanted to see all of the downstream production and was hopeful that it could get a gas deal once negotiations were concluded between the National Gas Company and the upstream suppliers.

 “Our focus will be on getting our idle plants in New Zealand and Trinidad restarted. So that will be our growth because they are idle today….Right now the upstream and the government are negotiating, their contracts are coming up this year and, until that negotiation gets finalised I would say it is unlikely that Titan will secure a gas contract to allow that to restart, but those contracts will be negotiated this year and the government has told us they want to keep all the downstream alive and they just need to have their contracts negotiated with the upstream and that is ongoing. We are continuing to dialogue with the government and the task is to get gas at an economic price that allows us to operate Titan through the cycle and that’s what we are focused on.”

 

 

Amcham

The American Chamber of Commerce presented a proposal to Government on the ways nearshoring can result in more investments in Trinidad and Tobago. The chamber compiled the policy paper – Nearshoring Framework & Rationale for The Government of Trinidad & Tobago -which Amcham TT CEO Nirad Tewarie and Amcham TT president Toni Sirju-Ramnarine presented to Trade and Industry Minister Paula Gopee-Scoon at the ministry in Port of Spain, on May 13.

Nearshoring is the practice where a business outsources its operations to another company in a neighbouring country.

Amcham TT president Toni Sirju-Ramnarine said:

“The paper outlines several factors that make TT highly favourable for investment and the attraction of new business activity through a nearshoring strategy that should warrant the Government’s consideration. Amcham TT is committed to this strategy as we believe its execution will provide major economic opportunities for TT. Working collaboratively with the Government, we are confident that we can build new pillars of economic growth in TT.”

Sirju-Ramnarine and Tewarie met Gopee-Scoon and the ministry’s permanent secretary Francis Seignoret, along with a team that included the chamber’s deputy chair of the Digital Transformation Committee, Anna Henderson (CEO, Amaranth Business Solutions), Digital Transformation Committee member, Vitra Gopee (COO, Digital Era Group) and tech community and projects officer, Rey-Anne Paynter-Mendez.

The discussion centered around recommendations in the paper and how a nearshoring strategy could result in more investments into TT. Amcham TT reiterated its commitment to working with the Government to design and execute a nearshoring strategy to accelerate efforts to diversify the economy, find new and sustainable ways to increase GDP and mitigate the negative impact of the pandemic on citizens and businesses.

Gopee-Scoon commended the private sector’s efforts to collaborate with the Government on initiatives to boost investment into TT.

“Much can be achieved when the government and private sector collaborate. I look forward to continuing the engagement with Amcham TT and the wider private sector to build on recent success to attract more investment and create more jobs through a deliberate nearshoring strategy.”

Tewarie said the chamber felt encouraged by the discussions.

“The benefits of public-private partnerships can’t be overstated and Amcham TT appreciates the open relationship we have with the honourable minister. Coming out of the meeting we agreed to focus on leveraging nearshoring opportunities in IT-enabled services, logistics and distribution, and specialised manufacturing. Immediately, we will begin work to enhance capacity building to support the growth of these sectors and to define the elements of the strategy.”

 

 

 

Summit of the Americas

THE Prime Minister attended the ninth Summit of the Americas in California, hosted by US President Joe Biden. He was accompanied by Minister of Foreign and Caricom Affairs Dr Amery Browne and Minister of Energy and Minister in the OPM Stuart Young. Under the theme – Building a Sustainable, Resilient, and Equitable Future– the event aims to bring together leaders from North, South and Central America and the Caribbean. Finance Minister Colm Imbert  acted as prime minister.

Foreign and Caricom Affairs Minister Dr Amery Browne said the Ninth Summit of the Americas in Los Angeles,was very productive for Trinidad and Tobago, Browne and Energy Minister Stuart Young were in a delegation led by the Prime Minister. They left TT on June 6. The summit ended on June 10.

“The summit was extremely productive for TT and for the Caribbean Community (Caricom).”

The week and the build-up to the summit “marked one of our most intensive periods of diplomatic engagement.” He thanked TT Ambassador to Washington DC Anthony Phillips-Spencer, staff at the TT Embassy in Washington DC and ministry officials for contributions towards a significant volume of preparatory work. All of it provided the platform for Dr Rowley to “make fruitful and effective interventions, and for the Trinidad and Tobago delegation to fulfill its mandate within a coordinated Caricom presence.”

Browne said he was proud to witness Rowley’s “display of majestic statesmanship during his contributions to an intense Caricom caucus meeting on Wednesday (June 8).”

Rowley performed at the same level on June 9 during his presentation of key perspectives and recommendations at a highly significant subsequent meeting on June 8 between Caribbean leaders, US President Joe Biden and Vice-President Kamala Harris.

Browne held discussions with US Secretary of State Antony Blinken; Organisation of American States (OAS) Secretary General Luis Almagro; his Costa Rican, Argentine and Caricom counterparts and other top foreign diplomats at the summit . Those talks dealt with national priorities as well as Caricom agenda items such as food security, energy security and regional financing.

On June 9, Young held talks with US Special Presidential Envoy for Climate, John Kerry. Those discussions dealt with TT’s agreement to sign the Global Methane Pledge and its plans to identify methane emissions and reduction. Young discussed with Kerry, “plans to utilise renewable energy in our electricity grid, starting with Project Lara and the 112.2 MW to be produced via solar and the intention to pursue more solar and studies being done to ascertain the feasibility of wind generated power.”

Special Envoy Kerry indicated willingness to have further discussion through his office with T&T Government, to determine what support could be provided on these initiatives, beginning with technical assistance.

At the summit’s second plenary session on June 10, Rowley said the summit “provides a platform of opportunity and promise that should not be missed.”

He referred to the challenges posed by the pandemic over the last two years and by the Russian invasion of Ukraine .

“It is my considered view that the compounded and reinforced challenges presented to global supply chains, energy and food security, among others should sharpen our focus on the risks that we all face and the damage to future generations if we don’t get it right.”

 

 

Trade and business

The Ministry of Trade and Industry (MTI) celebrated the launch of its trade and business portal – a one-stop hub for accurate and up-to-date business and investment information – at the Trinidad Hilton, Port of Spain.The portal will treat with issues that have resulted in Trinidad and Tobago being ranked 79th on global competitiveness out of 140 countries.

Trade Minister Paula Gopee-Scoon in her feature address confirmed that the ministry is committed to closely coordinating with both the public and private sector as well as international organisations to ensure that the portal will be continuously updated.

“The business community and other stakeholders will now have a useful tool that would help them find information to facilitate and accelerate trade and business decisions and activities.

“A major requisite to improve our ranking lies in the need to enhance the effectiveness of our institutions through digital transformation. In light of this, digital transformation is a critical pillar in our national policies.”

The MTI is also pursuing initiatives that would improve trade and business environments which include electronic payments, which will soon be available through TTBizLink and DevelopTT; business process re-engineering, which would simplify business processes and align current major regulatory trade processes with international best practices and implementation of the WTO facilitation agreement, entered into force globally on 2017 and cites predictability and transparency as cornerstones to the agreement.

TTMA president Tricia Coosal said the portal will also give businesses and other stakeholders access to information on prerequisites for importing and exporting goods, which in the past was difficult to access.

“This opens the world of possibilities with regard to how trade data can be viewed and analysed. It, therefore, enables better business decisions about what product is needed for a particular market at any given time.”

The portal has the potential to help TT realise one of its long-term business and trade objectives – gaining a competitive advantage in the international arena in the area of ease of doing business.

 

 

Labour Day

In her Labour Day message, Opposition Leader Kamla Persad-Bissessar said workers are facing increasing challenges and worsening economic and social conditions as a result of the government’s inability to manage the country’s affairs.

She accused the government of removing programmes put in place by her coalition administration between 2010-2015.
“Instead of the progression and upliftment of workers in this country, we are seeing a regression of the policies and programmes put in place by the People’s Partnership administration, and the decimation of the working class.”

She claimed there has been significant job loss, much owing to the lockdown measures adopted to curb the spread of the covid19 virus.

“This PNM administration has presided over massive job losses, with over 120,000 people being put out of work and zero jobs created. The draconian measures undertaken by this government during the pandemic led to thousands of business closures and many small businesses were unable to recover.”

Government’s view that the economy is stable, coming out of its mid-year review last month, was not the reality.

“This government has no care or concern for workers and continues to attempt to hoodwink the population into believing that all is well in our economy. They have failed to produce a single idea or initiative to attract foreign direct investment, encourage new business development, diversify the economy or create jobs.”

Following announcement of a ten per cent cut in the allocation to the UWI, Persad-Bissessar said the government had no interest in investing the country’s human capital.

“They have cut funding to education and skills programmes, because investing in our human capital is not a priority of the PNM.”

Making a pitch for a return to government, Persad-Bissessar said the UNC has plan to grow the economy and create thousands of jobs.

“Our track record is clear, during the administration I led, over 56,000 new jobs were created, and 135 wage negotiations were settled. We expanded technical-vocational skills programmes and provided laptops to secondary school students to prepare them for the Fourth Industrial Revolution.

“Our plan for economic transformation includes reducing the tax burden, jump starting food security, investing in renewable energy and creating three new funds to mobilise financial resources.”

Highlighting the UNC’s past of being led by labour leaders – one of its founders, former prime minister Basdeo Panday led the All Trinidad General and Sugar Workers Union – Persad-Bissessar said the party “continues to stand unequivocally with the workers of this country.”

“We remain relentless in our pursuit of prosperity, safety, fairness, peace, bread and justice.

“The UNC, working with organised labour and the trade union movement, will work towards restoring trade union democracy to its fullest through radical and appropriate amendments to the Industrial Relations Act and other pieces of labour legislation.”

Government is currently in the midst of wage negotiations with trade unions which rejected its latest four per cent offer, after an initial two per cent. However, early in the PP administration, trade unions rejected its five per cent wage increase offer.

 

 

National Tripartite Advisory Council

In his Labour Day message, Labour Minister Stephen Mc Clashie hailed the role of trade unions but urged they return to the National Tripartite Advisory Council (NTAC).

“As we join the nation in celebrating Labour Day 2022, I wish to recognise and commend the labour movement for its continued dedication towards championing the rights of workers across Trinidad and Tobago, while upholding the principles and tenets on which the movement was founded and built.”

The nation could only progress towards decent work by “a collective effort comprised of labour, business and government representatives, the very basis of social dialogue and tripartism.”

Mc Clashie urged entities to not operate in silos or avoid dialogue just because it might be hard to find a middle ground.

“Instead meaningful dialogue which requires the engagement of all stakeholders participating in frank and respectful conversations, essentially, must take place. I therefore urge the return of the labour representatives to the discussion table.”

The International Labour Organisation (ILO) said social dialogue had pre-requisites to take place. These were strong workers’ and employers’ organisations with the technical capacity and relevant information to participate in social dialogue, the political will and commitment by all parties to participate, respect for the fundamental rights of freedom of association and collective bargaining, and appropriate institutional support.

Saying the NTAC mirrors the ILO by providing the forum for members of a tripartite body to advance workers’ interests, “It is therefore imperative, that the trade unions return to the NTAC.”

All stakeholders have significant and vital contributions to make in offering a solution-oriented approach to treat with labour sector challenges His ministry offers labour administration and formulates policy and legislation, the latter now under a comprehensive review.

“As part of this process, the ministry has engaged with the social partners, Government, labour and business and other relevant stakeholders to bring about change and modernisation of labour legislation in keeping with transformation that has been taking place within the labour sector.”

This legislation included the Cipriani College of Labour and Co-operative Studies Act, Industrial Relations Act, Retrenchment and Severance Benefits Act, National Workplace Policy on Sexual Harassment, Retrenchment and Severance Benefits Act (Amendment) Bill 2019, Employment Standards Bill (formerly Basic Terms and Conditions of Work Code), Foreign Labour Contracts Act, Trade Unions Act, Maternity Protection Act and Minimum Wages Act.

The Industrial Relations Advisory Committee (IRAC) – in its role of promoting decent work, industrial peace and opportunity for all – has recently consulted on the Maternity Protection Act and Minimum Wages Act. “The next step is to send these reports to the Industrial Relations Advisory Committee (IRAC) and the Minimum Wages Board for their respective reviews to prepare Policy positions.”

The ministry was also working on legislation regarding sexual harassment Occupational Safety and Health (OSH) and employment standards. The Ministry’s role involved formulating policy and public education on labour rights and responsibilities, plus training stakeholders on workplace rights and duties so as to reduce workplace breaches and promote industrial peace.

“The Conciliation Advisory and Advocacy Division provides ongoing workshops in mediation and training to stakeholders within the business, labour and government organizations in industrial relations matters including retrenchment and severance, contract employment, trade dispute, sexual harassment in the workplace among other key workplace matters.

“While the Ministry maintains a peaceful industrial landscape through conciliation, education and training, health and safety of workers remain a top priority. The recent tragic incidents in the workplace have greatly underscored the seriousness with which we must approach the management of safety and health to preserve life.”

Building safe workplaces involves unison and compliance to OSH regulations. With safety and health recently made basic rights at work, ILO members like TT must commit to a safe and healthy working environment.

He again appealed to labour to return to the NTAC. “In order to uphold the principles of decent work, industrial peace and opportunity for all, we need to persevere in unison.”

 

 

MSJ maligns misrule

Movement for Social Justice (MSJ) leader David Abdulah urged warrior workers to unite and fight against recolonisation. In a Labour Day message from his MSJ Marabella office, he declared the government is seeking to return the country to colonial days,

“MSJ is saying to the working people and the trade unions of TT that all of which was won as a result of the struggle of 1937, is now under threat from this Rowley PNM Government. On this 85th anniversary of June 19, 1937, the MSJ is saying to workers, you have to get that spirit of the warrior workers of 1937, united in struggle, united to take disciplined mass action in defence of their interest.

“We need to unite as warrior workers, to have a revolution of the mind, to break free of ethnic loyalty that prevented us from taking collective, disciplined mass action.”

MSJ is ready to lead that decisive action to set this country on the right road, “because where we are going under this Rowley Government, is down a road where few benefit tremendously and the majority are sucking salt.”

The warriors of 1937 had no racial barriers and were not blinded by the politics of race and religion as they are today by the two dominant political parties. While there have been bad governments over the years.

“This Rowley PNM Government is the worst government we have had. They are seeking to return us to conditions not far different (from those) of 1937. We don’t say that lightly. “The facts are there. The economy is being more and more controlled by the massas of yesterday.”

The late Dr Eric Williams’s declaration in 1962 that “Massa day done” no longer holds under Rowley.

“We are saying that the Rowley Government is seeking to return massa to the power that massa had before. All the energy companies are back. BP and Shell, which left in the 1960s and 1970s, are back here big time. Our natural gas industry is controlled by foreign nationals once again.”

Even the refinery “which was once owned by the people of TT, is now to be sold by the Rowley Government or given to another foreign company.”

He bemoaned that this arrangement is far from transparent. Similar to the energy sector, the banking sector is also returning to the hands of foreign nationals, giving as an example the formerly nationally owned RBTT, which is now the Royal Bank of Canada (RBC).

Not only are big multi-national companies coming back into this country, but the “local massas, who own conglomerates and big corporations are controlling more and more of the wealth. Wealth is being concentrated more and more in the hands of a few rather than benefiting the majority for the common good, as the Constitution requires. That is why we are saying the country is going backwards.”

Abdulah observed fewer workers are unionised today because of union-busting by the Government. The shutting down of state-owned Petrotrin to get rid of its representing union, the Oilfield Workers Trade Union (OWTU), and the retrenchment of port, telephone, water workers were testament to that. He described the restructuring of these state agencies as an agenda to get rid of trade unions, the collective agreement, unionised labour and, return workers to casual and temporary employment without benefits.

“Pension plans are no longer there, medical plans for workers and so many other benefits workers fought for and won from 1937 to now are being reversed as we return to the conditions where massa is in charge.

“This Rowley Government is seeking to restructure the society of TT in a way that is going to get us further and further down the road of barbarism. That is why so many of our young people are frustrated and angry, why they are turning to violence, because they are being denied proper access to equitable educational opportunities.”

While many are in school, he said the majority is failing because they are not well equipped to enter school. Those who succeed and graduate from colleges and universities are denied employment opportunities and are equally frustrated.

Unions and politicians consistently critiqued oil company profits in the current up cycle.. Unfortunately, when oil prices rise due to factors beyond their control ( invasion of Ukraine, long-term declines due to dropping renewable costs, etc.), the only avenue left is to critique the companies’ profits. Of course it’s not successful, but it gives the appearance of caring. Unions complain about foreigners but ignore national companies failing spectacularly with astronomical losses of public funds while their boards are not accountable.

Divestment of all state assets is the solution as all state enterprises are collapsing due to corruption, incompetence and lethargy

 

 

Workers fired over pandemic policy

Government discontinued proposals for a covid19 vaccination policy in the public sector but workers in the private sector claim this is being enforced in the energy industry to constructively and illegally dismiss them. Workers who claim to be affected by this policy demonstrated dissatisfaction outside their workplace at the Kenson Group of Companies, Lady Hailes Avenue, San Fernando. Workers joined the demonstration from Kenson’s clients Paria, Heritage, EOG and BHP. Police guarded the demonstrators and the company, owned by former San Fernando mayor Ken Ferguson.

Labour relations officer of the Oilfield Workers Trade Union (OWTU) Ernesto Kesar, acting on behalf of the workers, delivered a letter to HR manager Tyrone Rodulfo, seeking an urgent meeting on the claimed denial of workers’ right to work or to continue employment owing to their vaccination status.

Kenson’s armed security guards accepted the letter on behalf of Rodulfo. CEO Blair Ferguson said Kenson would issue an official statement, as some of the claims made were untrue. R. Baptiste, who worked with Kenson for the past 14 years and was last assigned to BHP, said he has been off the job since December 27 and received an official termination notice on March 18. His termination was said to have arisen from his non-adherence to BHP’s covid19 policy. He did not  receive a copy of this policy which caused him to be out of a job.

“If you are dismissing me, there must be some justifiable grounds, but the company has not revealed the policy.”

This happened to other employees with companies in the industry. Baptiste said receiving or refusing the vaccine is his personal choice and should not deny him the right to work and earn an income.

“We are income-generators for Kenson. The company does not rent equipment or do anything other than send skilled men to do physical work. We supply skilled labour to EOG, Shell, BHP, BP, Paria and Heritage. We provide technical labour, mechanical, electrical, instrument maintenance or operations.”

In a company memo in October 2021, Rodulfo told employees that from December 1, 2021 (subject to change) only fully vaccinated contract personnel would be allowed to mobilise to a BHP TT operational site. Non-vaccinated contract personnel would not be permitted site access unless approved by BHP’s doctor and operations manager.

“To protect the health and wellbeing of all persons at our sites, Kenson Group of Companies and BHP expect and require full co-operation with the requirements described herein. Any deliberate attempt to bypass these requirements will be considered a serious breach of Kenson/BHP’s HSE Procedures and Guidelines,”  the memo said.

Oilfield Workers’ Trade Union joined the First Wave Movement as Kenson employees protested . Activist Umar Abdullah of the First Wave Movement told media he was there to intervene on behalf of workers against companies using covert methods to fire workers who refuse the covid19 vaccination.

“Your vaccination status and your medical status is your business.”

He asked the police officers present what would happen to national security if they were told they could not report for duty or get paid if they exercised their right not to be vaccinated.

Caricom and African governments dumped tons of CV vaccine. Britain delivered vaccines to over 40 countries and committed £2.2bn in funding to help the global fight against Covid. The G7 was accused of stockpiling as they were the first infected but donated vaccines averted 20 million deaths.

 

 

Trade unions lose confidence

Jun 21 2022

No-confidence motions historically question egregious breaches and express loss of confidence in a government.

Traditionally, they allow the opposition to highlight negative qualities and the government to boast about perceived achievements and to condemn opposition flaws in the Parliament where MPs conduct what they claim is ‘the people’s business’.

It was no surprise that fractured trade unions converted Charlie King Junction, the home of labour, into a ‘Workers’ Parliament’ to announce their motion of no-confidence in the Prime Minister and his Government. Workers. voted a resounding ‘Yes’ when OWTU president-general Ancel Roget asked whether they had lost confidence in the Government. Their reasons were many.

“He’s sending workers home, prices of food, goods and services are going up every day, you have no money to send your children to school, you are facing increased utility rates, you have rent, mortgage, bank loan, hire purchase and instalments to pay. All of this coming after a pandemic with no wage increase and now property tax. How heartless can these people be? They are speaking with forked tongues, from both sides of their mouths,” Roget declared to the cheers of thousands.

The  motion will be delivered to the rubber-stamp President and the zombie Government .
Union leaders expect little change but are acting on behalf of thousands of voiceless citizens. The Prime Minister, absent in USA since 6 June, will recognise that union discontent reflects how the beleaguered population feels, struggling to make ends meet, battered by .food shortage, rising prices, escalating crime, grinding poverty and child abuse.

The rogue regime may accuse unions of aligning with the maligned opposition but the stark reality is that the majority are strangled by the dead hand of government. With suspicion of Attorney General Reginald Armour and Minister Foster Cummings,

Government is a cryptic threat. The power-addicted PM, still silent on the legal farce centred on the errant AG and supporting corrupt Cummings, will be cognisant that only the empowered can resolve the bitter concerns of a populace at boiling point, disgusted by pernicious propaganda blaming the powerless opposition for menacing evils. As Prime Minister in power for seven years, he and his Government must take responsibility for alarming jobless, homeless, sick and hungry citizens. He must, therefore, be honest. To do otherwise is to insult all right-thinking people.

With founding formulas to lie, cheat, oppress, steal, exclude, feud, fight, fudge and masquerade as democrats, ministers and supporters excoriate opposition semtinels.. They turn a blind eye to craven followers who covet assets of law-abiding citizens, attack their success, persecute faiths, desecrate temples, invade homes, mock ancient culture, ridicule traditions, dismiss values, resent family solidarity, sneer at symbolism of language and names, kidnap, kill, rape, rob, loot, burn and terrorize with hate crimes, inflicting a bloodbath, creating a hellscape from a once prosperous, progressive, cosmopolitan community, now ruined.

 

 

OWTU

Jun 17 2022

Oilfield Workers Trade Union employees prepared placards at Paramount Building headquarters,  San Fernando ahead of Labour Day celebrations. Due to the pandemic, this is the first time in two years that the celebrations, including a march and rally, are being held.

Union leaders use the platform to unleash their fury against the government and those who they believe have wronged the working class. Senior Labour Relations Officer Joanne Phillips said that they had another crew building the stage at Fyzabad and working out the logistics. Issues highlighted on placards include the one per cent wage offer to public servants while ministers enjoy big salaries and the cost increases in food, fuel and transportation.

“Workers have been exploited for the last 14 years, no increases in salaries, but Rowley and them could eat ham, jam and lamb, run in and run out of the country when they want and you can’t even get a proper bus service to take you from point A to point B.”.

Tentatively, the schedule will begin with wreath-laying at the La Brea Charles gravesite at the Fyzabad cemetery, an taddress around 9 am by PSA president Leroy Baptiste at Avocat Junction, and a march to Charlie King Junction, followed by speeches from union leaders. Celebrations will conclude with a cultural show at 4 pm. Over 9,000 workers from various trade unions are expected to attend.

 

 

Knocking the wind out of Teflon sails

Jun 19 2022

Mariano Browne questions responsibility, policy and politics

A cynical view of elections is that administrations are voted out because the electorate is dissatisfied with their performance, not because they are impressed with Opposition promises. It is up to the incoming administration to improve on the performance of their predecessors. Improving a country’s position requires difficult decisions which will have unpleasant consequences, short-term, over one to three years. Difficult decisions must be made in the first year of the five-year term for benefits to be achieved to give incumbents a chance to win the next election.

This explains in part why incoming governments magnify failings of losers; to enhance their image and emphasise the importance of their decisions. The economy was in a depression from 2015 overshadowing everything else. This ought to have spurred serious efforts to reverse the trend. Substantial price improvements in the energy products from 2021 masked underlying weaknesses. The most important sector, natural gas production, is in long-term decline. Latest bid rounds suggest that the energy sector may not bless T&T indefinitely. How is this being handled?

COVID-19 was a political blessing. People focused on safety first. Public sector wage negotiations now hold the spotlight and will dominate the news until negotiations are completed. Improvement in energy prices has sharpened expectations.

How does one explain the closure of the refinery, EFCL or TDC, or the ongoing downsizing exercises at Eteck, UTT and TSTT in this context? What of the planned reorganisation of WASA? And what is the position with other state enterprises and the wider public sector? What are the options? Retrenchments, salary cuts, or salary freezes? The port is an area to watch as there have been announcements of plans to look for a private partner. What are the objectives or benefits of each of these options?

The CPO’s offer can be viewed as a marker but his position is not new. Petrotrin’s offer to OWTU in 2018 was 0,0,0,0,0,0. The same for the various bargaining units of T&TEC whose matters were decided by the Industrial Court where the submissions of T&TEC were upheld.

In its decision pertaining to the Senior Staff Association (SSA) the court reasoned in paragraph 40 “…how do we balance the interest of the persons immediately concerned with the interest of the community as a whole…While we are convinced that the SSA is deserving of an increase under normal circumstances, we are equally convinced that the Commission is not in a position to pay any increase. Should the court make an award in favour of the SSA….. there will be no other option but to retrench workers…”

And in paragraph 43 it referenced an earlier decision noting “the court has a prime responsibility to ensure that the viability of any organisation is not destroyed by the award it makes. Indeed, its priority must be the preservation of the organisation and by extension the securing of the jobs of its employees. No order of this court must have a negative impact on the society.”

All trade union leaders understand the current environment and must be aware of this judgment and its implications in the current round of negotiations. One understands that its members will be facing hardship, as are most citizens. This is where hard-nosed bargaining must be tempered by good sense.

This is Labour Day weekend, and many voices will be raised in solidarity with arguments about the cost of living, and the power of the working class. We have been through difficult times before. The options are complicated but to be paid more, we must produce more, : to produce more, we must work harder and smarter. What is required to increase the size of the economic pie?

Governments are elected to manage these issues. They can only be addressed through respect, equity, and dialogue. People need hope, a vision and an action plan, not public relations rhetoric. Doing all three requires trust, communication, and leadership. Who will rise to the task?

Certainly not the moribund party in power. PNM pranksters exploited independence to buffet British subjects out of the United Kingdom and replace British passports to obliterate identity of terrified families, like Russia in Ukraine.

They now demand reparation from Britain and preside over sacrilege of Britannic heritage while urging respect for totalitarian tyrannies. Driven by racial envy, they dishonour watchwords of discipline, tolerance and production and jeopardize diversity, heterogeneity and quality. Unfit for purpose, they cannot rise to the task of maintaining law and order.

There are no deputies and successors to hold the fort in leaders’ absence. A full-time Finance Misister is acting as Prime Minister. A disgraced NGC Chairman is also a full-time High Commissioner in a Caricom petrostate. A full-time Energy Minister is acting as a full-time Attorney General leading a jaded judiciary.

 

 

Bad decision bites

NEIL GOSINE

Oil refineries are making nearly five times as much money as they did a year ago, recent data show. BBC News reported June 10, “Refineries cash in as petrol prices soar.”

A lack of capacity to refine petrol and diesel from crude oil helped to increase fuel prices to record levels and increased profits for refineries worldwide. Petrol prices are at an all-time high but poor Trinidad and Tobago no longer has a refinery. The worldwide lack of refining capability contributed to high fuel prices in many countries.

Now we see why it was so important to keep Petrotrin up and running. Now we see the real business acumen of our Prime Minister and his energy technocrats. We would have been making a killing if our esteemed Prime Minister did not close the refinery. Not to mention that we would have had a steady stream of foreign exchange that is so desperately needed now.

The impact of the closure of Petrotrin on the economy, the employees and their families was devastating. It has had a domino effect across the country, putting thousands of families on the breadline, as well as hundreds of contractors and service companies that depended on work from Petrotrin. Now we are seeing the real cost of that closure.

We have experienced one of our highest unemployment rates since the 1980s recession upon the closure of Petrotrin. Unemployment ranged from highly skilled to unskilled including geologists, engineers, accountants, health, safety, security and environment professionals, lawyers, operators, technicians, mechanics, pipe fitters, labourers, janitors. GDP continues to spiral downwards as production power is reduced and import bills get constantly higher. Forex has been affected tremendously and we do not seem to be able to find a light at the end of the dark clouds.

The unfortunate truth is everything is extremely hard now financially for the working class and our prospects look dim. The Prime Minister and his energy team made some unintelligent and selfish decisions that have now come back to bite us. How can the TT economy find a way to sustain itself if there is no energy plan? If there is no refinery? If there is no new natural gas finds in the near future? The price of fuel is so high at the moment that the average citizen cannot afford to pay it.

The Government made it clear that it cannot afford to pay increased wages to workers, and prices of basic food items, basic necessities are rising daily because of fuel prices. We are seeing unions begging for decent wage increases through public sector negotiations. They have to face the reality that every citizen faces now – we just can’t afford to pay for it. We have reached the lowest point – loss of hope and utter despair in our leadership. Prime Minister Rowley’s vision and direction have surely taken us to the brink of failure.

Another PNM prank pulversied Petrotrin. Balisier boobytraps abound. Cities and towns are hotbeds of criminal activity. Vagabonds prevail in gangs A culture of obscenity, attacks on police and murder of law-abiding citizens hinders progress. The food shortage was entirely preventable if Agriculture had received a decent budget instead of the paltry CInderella funds.

In this centennial year of ICTA, founding college of UWI and now the Faculty of Agriculture holds a treasure trove of research which could underpin food crops. Profitable WITCO caould be incentivised to divest tobacco to remove the health risk, fire risk, pollution risk, waste of natural gas in manufacture, and release land for food production especially fruit trees, corn, saijan and other nutritious crops.

Profitable Angostura and Carib can also divest to produce nourishing non-alcoholic drinks and reduce domestic abuse, health risk, accidents and squandering of income in bars. Unilever, now Upfield, can be urged to develop local flavours and toiletries from citrus, pineapple and rose.

Casinos can be banned to save family incomes and time. Tattoos risk health and wastes income and time. DIgnified jobs can be created to restore optimism but the shoirt-sighted, narrow-minded government lacks imagination and is bereft of ideas and interest in the needs of citizens., as it mirrors subsaharan stupidity.

 

 

Unions, State can find balance on wages

29 May

UWI don, economist Dr Vaalmikki Arjoon says unions and state need to strike a balance in their negotiations, taking into consideration the increase in the cost of living over the years, revenue and productivity levels of employees and processes. He described the offer of a two per cent salary increase over eight years as “minuscule” considering the increase in the prices of items people use on a daily basis and the overall cost of living since the last time salaries increased in 2013.

Since 2013, overall prices increased by 22 per cent and food prices rose by 47.6 per cent.

“Currently, what we consume on a daily basis are the highest they have ever been for a myriad of reasons – global supply chain constraints are causing an increase in the prices of goods we import for resale locally and raw materials for the manufacturing process and the escalated cost of shipping. These are compounded by the hike in energy prices and more recently, the higher price for fuel at the pump which not only exacerbates the cost of living but also the cost of doing business, which will again pass on to consumers as higher prices.

“Households living pay-cheque to pay-cheque have been faced with a severe loss in purchasing power and worsened poverty, especially if all their income was being spent on the bare essentials like food items, utilities and rent and were unable to adequately save.

For many, a two per cent increase will not even cover the added cost of fuel people were now incurring, especially those who drive daily from central, south and east Trinidad to work in Port of Spain. Almost any rise in salaries would be taken away indirectly by the looming property tax. People in the low income bracket with medical issues require expensive drugs. Wage negotiations need to include what employees were offering to the public. While many were hardworking, “worrying productivity levels” in the public sector need to improve.

Productivity was hampered as practices in the public service are “riddled with red tape and significant delays” that make it difficult, costly and time consuming to get simple procedures done. He suggested that bureaucracy be automated to boost productivity.

“It is only fair that if the state is increasing wages, then the public service has to set targets to increase productivity and meet those targets. At the same time, productivity is not only up to the employees – the steps and processes involved to complete many tasks need to be shortened through greater use of digitisation.”

The rate the unions were requesting would be extremely challenging to fund, given revenue streams over the last six years, even with the recent good news from the Ministry of Finance about performance of the economy.

“They indicated a forthcoming sale of the refinery, growth in much of the non-energy sectors and an MOU with Guyana which could foster investments between our two economies to boost revenue streams.

“While we enjoyed a fiscal surplus of $1.98 billion for the first seven months of the year and the Finance Ministry expects conservatively a $4.5 to $5 billion increase in revenues this year, these funds can only give the economy breathing room at this stage and cannot be used to fully satisfy the demands of the unions.”

It was unfortunate that successive governments failed to secure adequate revenue earnings through meaningful and strategic investments outside of the energy sector, which could have made the current negotiation process easier.

There are too many unions. One for the public sector and one for the private sector should suffice. With government controlling prime state assets in energy, utilities and other key sectors, there is little transparency and accountability, as in the NGC Train 1 scandal, TTEC disasters, WASA negligence and the Airport controversy costing fortunes in public funds. The regime is dominated by geriatric leaders past their shelf life and criminals go on the rampage amid blatant disdain for law and order and growing insecurity. People have money for tattoos, casinos, fetes and carnival yet complain about costs for food and fuel.

 

 

CDB, EU support trade

The private sector will value improvements in the trading environment from three trade initiatives under way at the Ministry of Trade and Industry (MTI) and its agencies. The MTI accessed assistance from the EPA and CSME Standby Facility for Capacity Building, managed by the Caribbean Development Bank (CDB) with European Union (EU) funding, to establish an online focal point for trade queries, build the capacity of local entrepreneurs and generate new trade opportunities and build networks within select markets in Europe. These projects will increase efficiency and communication among state agencies and improve revenue generation in smaller, export-oriented businesses.

The interventions are worthwhile contributors to national development priorities focused on building competitiveness and expanding and strengthening the private sector. Minister of Trade and Industry Paula Gopee-Scoon indicated that Fit for Europe II’s implementation would have a ripple effect through the economy beyond job creation, increasing exports to the EU, while the digital trade enquiry point would highlight the priority the Government places on fulfilling its international obligations.

“The Ministry of Trade and Industry remains committed to its core responsibility. which is to grow trade, business and investment, particularly through driving the non-energy sectors of the economy.”

Minister of Planning Pennelope Beckles noted that “both projects will be invaluable and critical to the improvement of trade facilitation and export growth development, which are pivotal pillars of TT’s economy.”

Daniel Best, CDB’s director of projects, speaking at the project launch on May 27, outlined the potential impact on the economic and social resilience of citizens, adding that the bank “remains committed to assisting TT with the acceleration of its economic development through planning, programme development and institutional support. This is one of many interventions in the pipeline for the country.”

CDB is partnering with the Government across sectors integrating trade facilitation measures in its programming to increase employment and revenue and reduce poverty in alignment with the Sustainable Development Goals (SDGs).

MSMEs, women-led businesses and export-focused enterprises are specifically targeted with over $4 million in grant funding from the Standby Facility. This, the EU projects, will positively affect development objectives and the implementation of the Economic Partnership Agreement.

Ambassador Peter Cavendish, head of the EU Delegation in TT, says the EU has made significant and strategic investments in the region focused on development.

“EU funds are being used to equip producers to meet international standards in food safety, technical regulations for goods, improving the capacity of manufacturers to access new markets, and improving the regulatory environment for business and improving the customs and trade facilitation process.”

Cariforum deputy programme manager Yvanette Baron-George, lauded the Government for efforts to fulfil its international obligations, create opportunities and improve the trading environment. The projects – a trade facilitation enquiry point for TT and developing the export readiness of TT companies for the EU market (Fit 4 Europe II) – are being executed by the MTI and state export promotion agency exporTT.

The Bureau of Standards is implementing the third project, which was launched in 2021. The standby facility is a €8.75 million resource managed by CDB which offers opportunities to 15 Caribbean economies to grow trade, deepen integration and economic involvement and help competitiveness, market access and exports by implementing targeted projects in thematic areas.

 

 

Central Bank

Jun 13 2022

The Central Bank has kept its monetary policy stance unchanged.

The bank kept the short-term rate on its overnight collateralised financing to commercial banks, the Repo rate, at 3.50 per cent following its Monetary Policy Committee (MPC) meetings in December 2021 and March 2022.  The MPC focused on the early signs of domestic economic recovery, boosted by modest business credit expansion and relatively contained cost-push inflation, the bank noted in its Monetary Policy Report .

Nonetheless, it said the MPC took note of the rising importance of foreign inflationary influences and the fact that higher interest rates abroad could lead to some incentive to capital outflows. It explained that domestically, signs of a fairly broadbased economic recovery became more evident during the fourth quarter of 2021.

Production data point to an uptick in energy sector activity in the final months of 2021.
In addition, the continued rollback of restrictions on movement led to a gradual resumption in output in many non-energy sector businesses, including distribution, manufacturing and construction.

However, the bank said supply-side factors are contributing to increases in inflation.
The surge in international prices for food staples such as sugar, wheat and vegetable oils, higher shipping costs, transportation delays, and adverse weather conditions led to marked increases in food inflation.

Core inflation (which excludes the food component) also rose with the lowering of the subsidy on domestic gasoline prices, and the pass-through of increases in global costs of construction materials, such as cement, to domestic consumers.
Financial system liquidity declined but remained adequate, while interest rate differentials narrowed.

Excess liquidity, as measured by commercial banks’ reserves held at the Central Bank in excess of the required levels, declined from $7.7 billion in November 2021 to $3.9 billion in April 2022, the report detailed.  A rebound in business lending in October 2021, and a continued rise in real estate mortgage lending, contributed to the increase in consolidated system credit.

However, consumer lending remains stymied. Credit conditions allowed for a small reduction in bank’s lending rates, from 7.04 per cent to 6.93 per cent on average between September 2021 and March 2022.

External monetary policy tightening has resulted in the TT/US short-term interest rate differential moving from 27 basis points to -42 basis points below from November 2021 to April 2022; the differentials on the longer term end moved from 356 to 209 basis points.
Hence, it is in this context, the Central Bank explained that it has kept its monetary policy stance unchanged.

Regarding its outlook, the bank said domestic economic activity in the non energy sector will continue to recover as the full effect of the reopening takes root.  This is expected to lead to a gradual increase in employment opportunities; at the same time, job content and the requirement for physical presence on work sites are expected to be permanently affected by the “pandemic-induced” switch to greater virtual transactions.

Comfortable liquidity levels will continue to provide space for business financing, particularly as the Government’s possible need for lower domestic funding reduces the likelihood of crowding out, the bank added.

Rising fertiliser prices:  The supply-side stimulus to both food and core inflation is anticipated to persist to the end of 2022. Rising fertiliser prices will also lead to higher costs of imported food.

The war in Ukraine disrupted the supply of agricultural factor inputs such as potash fertiliser. Reduced fertiliser application may result in lower crop yields which can elicit export restrictions from major food-exporting nations.

Recent high international energy prices have boosted the public finances and external accounts, creating a welcome space for financing further adjustment to the lingering effects of the pandemic.

In the very uncertain global setting, however, the situation can change rapidly and care must therefore be taken to avoid considering this “windfall” as permanent.
It advised that much needed structural reforms should also be accelerated to reduce bureaucracy and strengthen dynamism and attractiveness in tourism, financial and other service markets.

Regarding domestic economy and prices the report outlined that pandemic-related undercurrents showed signs of abating following an uptick in energy sector activity during the fourth quarter of 2021, alongside the reopening of many non-energy sector entities.
Inflation remained relatively anchored, but several supply-side factors such as high and rising international food prices and international transport delays had notable pass-through to domestic prices.

Elevated energy prices and increased external demand set the tone for improved exports.
Foreign currency credit remained weak in 2020 and in early 2021 before turning positive in late 2021, but foreign currency deposits rebounded in early 2021 and strengthened toward the end of the year.
The decline in foreign currency credit, which began in 2020 with the advent of the pandemic, persisted into 2021 but turned positive in late 2021.

On a year-on-year basis, foreign currency credit expanded by 12.9 per cent in March 2022 compared to a decline of 1.8 per cent one year prior.
While credit extended by banks expanded by 15.5 per cent, lending from non-banks contracted by 47.3 per cent.
Following consistent declines in early 2021, foreign currency business loans turned around in December 2021 and continued this upward trajectory into 2022.
Sales of foreign exchange by authorised dealers to the public reached US$1,994.5 million over the four months of 2022, an increase of 37.6 per cent relative to the same period a year prior.

 

 

RFHL reports half-year profits of $728.7 million

May 03   2022

An uptick in customer deposits across subsidiaries of Republic Financial Holdings Limited (RFHL) in the Caribbean is behind the half-year profits of $728.7 million, announced today by Chairman, Vincent Pereira.

An official statement points to 5.8 per cent growth of total assets held by RHFL, notwithstanding the impact of the COVID-19 pandemic of the past two years. However, Mr Pereira intimated the developing situation with the Ukraine/Russia war is being closely monitored, as it is having some impact on inflation and supply chains.

The following is the full text of the RFHL statement…

Port-of-Spain, (RFHL) — The Chairman of Republic Financial Holdings Limited (RFHL), Vincent Pereira, announced today a profit attributable to its equity holders of $728.7 million for the half-year ended March 31, 2022. Total assets stood at $113.3 billion at March 31, 2022, an increase of $6.2 billion or 5.8% over the total assets at March 2021. This increase was mainly due to growth in customer deposits across subsidiaries in the Cayman Islands, BVI, Guyana and Trinidad & Tobago. Announcing the results, Mr. Pereira said:

“This represents an increase of $41.4 million or 6.02% over the $687.3 million reported in the corresponding period of the last financial year. While this performance remains 7% below our pre-COVID 2019 half year performance, it continues a satisfying upward trend in the Group’s performance reflecting our efforts towards better cost management and increased support of our clients across the Group.”

“During the first half of the Group’s financial year all territories in which we operate continued to relax most COVID related protocols. While many countries retained some travel related protections as well as public mask mandates, most removed curfews and restrictions on gatherings, re-opened schools and permitted almost all commercial activities. The tourism dependent territories benefitted the most from this easing of restrictions as these have all experienced increased activity in this sector. This buoyancy was somewhat offset by continued supply chain disruptions and inflationary pressures, originally due to the COVID pandemic and now exacerbated by the uncertainty, destruction and disruption as a result of the Russia/Ukraine war.”

“I would like to express my gratitude to each and every member of the Republic Team as it is their commitment every-day to serve our clients and communities with excellence that has enabled this outcome for the RFHL Group.”

The Board of Directors declared an interim dividend of $1.05 (2021: $1.00) per share payable on May 31, 2022.

 

 

FCB reports $221m in profits for Q2 2022

May 03 2022

The First Citizens Group recorded a profit before tax of $220.9 million for the quarter ended 31 March 2022.

This brought the group’s year-to-date profit before tax for the six-month period to $469.3 million.

Profit after tax for the six-month period amounted to $335.2 million which represents an 8.8% increase when compared to the corresponding period to March 2021.

Chairman Anthony Smart said the performance “is a positive demonstration of the Group’s efforts to recover to pre-Covid-19 pandemic performance levels.”

“Our performance continues its upward trend since 2020 and is in alignment with economic recovery both domestically and globally. The Group remains cautiously optimistic on future growth. While Consumer lending remains muted, Commercial lending is trending upwards, arising from the significant relaxation of Covid-19 restrictions and the corresponding increase in business activity. This is a timely relief for our economy, as sluggish employment conditions and increasing imported inflation, would have slowed the rate of consumer lending. Globally, the conflict between Russia and Ukraine has resulted in higher energy prices and exacerbated supply chain disruptions.”

Smart said the group would monitor these conditions and its impact on operations.

”First Citizens continues to strategically focus on keeping our operations safe, stable and competitive. Our digital transformation strategy will provide us with improved operational efficiencies through automation and frictionless workflows and enhanced capability to deliver new digital products and services. As we drive for growth and shareholder value creation via the strategic pillar of diversification, we will continue to actively progress all options to expand our core banking business into potential new markets and territories.”

 

 

Europe summit

The Prime Minister was expected to return to TT by the end of the month so will miss the meeting with European leaders Summit in Brussels between June 23-24, at the Council of the European Union in Belgium. He is still in California, undergoing medical tests.

He delegated Foreign Affairs Minister Dr Amery Browne to lead this country’s delegation to Kigali, Rwanda for the Commonwealth Heads of Government Meeting during June 20-25 as it clashed with the European meeting. CHOGM was scheduled for June 20-27 in 2020 but was postponed twice owing to the pandemic. TT is one of the 54 members of the Commonwealth countries and hosted the CHOGM in 2009.

Browne said, “Everything in is in place for the full participation of the TT delegation at the CHOGM in Rwanda, led by the Minister of Foreign Affairs and Caricom Affairs.”

Asked whether another government representative will represent TT at the European summit in the absence of the Prime Minister, Browne said, “That invitation was for the PM specifically.”

Browne and Minister in the Office of the Prime Minister Stuart Young who accompanied the Prime Minister to California returned on June 12.

They attended the ninth Summit of the Americas on June 6- June 10.

A brief statement from the Office of the Prime on June 12 said, “Dr Rowley is scheduled to undergo routine medical testing in the coming weeks which includes cardiac and prostate analysis.”

The Opposition raised the prolonged absence of the prime minister as controversy surrounds the Attorney General who was disqualified from a multi-million dollar lawsuit filed by the government in a Miami court. Senior officials said the Prime Minister was expected back home by the end of June.

 

 

Agriculture and Food expo

Jun 17 2022

2022 marks the centennial of the Imperial College of Tropical Agriculture, founding college of UWI Trinidad which pioneered science in 1922 at St Augustine. ICTA trained scientists from across the British Empire. It is therefore fitting that the region should salute their achievements.

As farmers spray a cabbage patch to protect produce from insects at Irrigation Road, Bejucal amid a national food emergency, Southex Trade Shows and Promotions partners with the T&T Chamber of Industry and Commerce, the Georgetown Chamber of Commerce and Industry and the Supermarket Association of T&T, to host the agriculture and food expo themed, Our Life, Our Business.  At the media launch at the TT Chamber of Industry and Commerce, Westmoorings,, CEO of Southex George Singh said the idea was to expand business in the agricultural sector and reduce the cost of imports.

“With the cost of food products going up each day and the continued lack of raw material threatening to send those prices even higher, it is my sincere hope that the coming together of the powerful organisations that will be represented at the expo will find solutions to some of these problems.”

Chamber president Charles Pashley said the expo would send a signal that TT has entered the “post-covid19 phase. A March 2022 blog by the Ministry of Trade and Industry notes that TT’s food import bill is over $5 billion annually, while the region reportedly imports around US$6 billion each year. Further, a study undertaken by Caricom identified that some 40 per cent (or 2.8 million people) in the English-speaking Caribbean are food-insecure.”

President of SATT Rajiv Diptee agreed, saying the expo could be a gateway into import substitution and even earning more foreign exchange.

“What we are seeing now is the cost of fuel, containers, shipping and foods we fetch from foreign principals has gotten to almost an inflection point in crisis levels. Which is why we are looking within the region like Guyana (and) our neighbouring islands as potential avenues for agriculture.”

Pashley said TT could then start manufacturing with the help of local workers in Guyana before taking similar strategies to the other Caricom islands.

“TT is well-placed to offer technical expertise to Guyana’s burgeoning energy industry, thereby keeping the wealth generated in the region to professionals from the region.”

Technology would also be incorporated into this agricultural business avenue as he recalled the chamber’s Champions of Business Awards finalist in the entrepreneurial category, Novo Farms.

The agri-tech start-up business developed a way, using technology, to replicate climatic temperatures to grow foreign produce. As the company progressed, it was able to monitor crop data analytics, which involves tracking supply and anticipating future supply.

Aside from trying to solve food-security issues, Singh said he wanted everyone to feel welcome at the expo while learning, so the five-day event will include attractions, including a petting zoo, farmers’ market, agri booths, large agri-demo areas, food market, play park, ‘live’ nightly entertainment, seminars, corporate booths and an agri pavilion.

The event in August at the Brian Lara Stadium, Tarouba, San Fernando, is expected to be the largest undertaking for the sector in over 20 years. The event will focus on several factors including empowering stakeholders, expanding opportunities in agribusiness, on people-centred development, poverty reduction and food security.

From August 3 to 7, the event will offer opportunities and cater to all aspects of the agricultural and food industry.. The exhibition will showcase all aspects of the industry’s operations and its contribution to national, regional and world stage goals for the sector’s continued development.

“It is our hope that through this event, we will raise the awareness of the business models and innovations in agriculture together with providing opportunities for linkages among the current and future stakeholders within the agricultural industry.”
The expo will also promote sustainable practices in forestry and fisheries while also demonstrating the nutritional benefits of using local produce.

Citizens must eschew toxic cassava promoted as flour and opt for rice and corn during shortage of wheat. Corn is easier to grow, harvest and prepare as a vegetable, snack and flour for bread than cassava. Rice is available from Guyana, now promoting regional supply of food. Nuts like cashew, coconut and chataigne, berries like guava, cerise and passion fruit are highly nutritious and build immunity against disease. Instead of UWI research on rodent agouti, Nestle can be incentivised to produce cheese and meat from water buffalo and goats.

 

 

Unilever

More workers will be shed at the end of July after Unilever Caribbean Ltd (UCL) closes its manufacturing plant. The company, which sold its local operations to international company Upfield in 2018 for €6.825 billion (TT$48,252 billion), gave official notice to retrench 118 workers.

“Before instituting this retrenchment exercise, UCL engaged in extensive consultations with the Oilfields Workers’ Trade Union (OWTU). These in-depth discussions were meant to reach a mutually agreeable outcome, if at all possible, in the interest of all parties, especially the affected workers.”

OWTU’s Sati Gajadhar-Innis said there should be government intervention to curb the uprooting of manufacturing companies from TT. She believes the plant will move to countries in Latin America with larger land space.

“After 93 years, they are shutting down. Sooner or later all our manufacturing will become warehouses.”

The union and UCL were still ironing out kinks in the retrenchment package as the calculation for termination benefits was incomplete. There was also an issue with how the retirement plan would be handled. Upfield as the new owners of the company will address both issues. UCL will continue to prioritise the safety of workers and equipment and will actively pursue the well-being of the people and the operations of the company.

“UCL will abide by and operate in accordance with all legal obligations in all matters relating to this decision. The company wishes to express its deep appreciation for the service and contribution made by its employees over the past years.”

UCL is a food and house- care manufacturer that produces spreads such as Blue Band Butter and Flora, home care products such as Breeze and Radiante laundry detergents, Quix dish washing liquid and Comfort Fabric Softener.

Unilever began business TT in 1964 after acquiring Trinidad Manufacturing and Refining, and West Indian Oil Industries and merging the two companies under the then Lever Brothers brand. In 2004 it re-launched its brand, turning Lever Brothers West Indies to Unilever Caribbean Ltd.

Vemco, which has a distribution deal with Upfield, will continue to distribute the brands locally and will not be affected by the retrenchment.

With venal attitudes towards business, government seeks materialistic benefits and neglects law and order as security diminshes. Foreign companies quit amid union militancy and hostile policies towards agriculture and research. Hopefully, Upfield will collaborate with UWI Faculty of Agriculture and develop tropical fruit, nuts, herbs, flowers and roots like ginger, for products.

 

 

UWI

Prof Christine Carrington, who has been on the frontline of TT’s covid19 response, is a recipient of the Anthony N Sabga Caribbean Award for excellence in science and technology. Carrington specialises in virology and molecular genetics. She received the award from President Paula-Mae Weekes on June 14 at President’s House, Port of Spain.

The science and technology prize is one of four awarded annually by the Anthony N Sabga Awards, Caribbean Excellence. The others include arts and letters, public and civic contributions and entrepreneurship. The other laureates for 2022 are Dr Kim Jebodhsingh and Anuskha Varsha Sonai of Barbados and Suriname, respectively, in public and civic contributions; novelist Marlon James from Jamaica in Arts and letters; and environmental consultant Shyam Nokta from Guyana in entrepreneurship.

Andrew Sabga, chairman of the Ansa McAl Foundation which funds the prizes, spoke briefly about the awards being the realisation of a dream of his father, the late Anthony N Sabga, one the region’s most successful businessmen. He was the founder of the Ansa McAl conglomerate, based in Trinidad which has interests throughout the region, including Barbados, where it employs about 700 people. Sabga said of the awards,

“We have the skills, resourcefulness and talent within our region to transform our lives and the well-being of our people here in the Caribbean.”

The Anthony N Sabga Awards, Caribbean Excellence (formerly known as the Anthony N Sabga Caribbean Awards for Excellence), were launched in 2005, and the first three laureates were named in 2006. Since then, 54 laureates, including the current year’s four, have been named from Jamaica, Barbados, the Organisation of Eastern Caribbean States, Guyana and TT. This year, 2022, marks the first year a laureate from outside the traditional territories has been named – that is Sonai, who is from Suriname.

Seventeen other Trinidadians have received awards in all fields. Two recent Trinidadian laureates were Maria Nunes (arts and letters) and Dr Carla Ayanna Phillips Savage (science and technology) last year. The prize comprises a medal, cheque for TT$500,000, and a citation. More details about the awards can be found on ansacaribbeanawards.com, or on Facebook.

ECO congratulates scientists in this centennial of ICTA, founding college of UWI Trinidad,

 

 

Heights of achievement

DIANA MAHABIR-WYATT Mia Mottley’s words . when she reflected on what it was like to come from a small country, to lack the self-esteem that comes from being part of a first-world country that can send people to the moon and win a Nobel prize in science and technology. She called it the barrier everyone who comes from a small island inherits: the barrier of self-contempt.

It is the barrier put up against children by a school system that is loaded against those with musical, design and mechanical talent, sometimes genius, who are not academically inclined and so cannot pass their “Common Entrance” and get into a prestige school, so are convinced forever after that they are “less than.”   It is like being from a small, backward third-world country where the core of power rests with leaders who are working in little silos, answering only to one of the violent and powerful “capos’ from within their own ranks: children with no self-esteem breeding children destined to the poverty and crime their parents will die early from. Sounds like something from a Graham Greene novel. Except it is not true.

Those were Peter Minshall’s words she borrowed them for dramatic rhetorical effect. Belying her own words, they were powerful enough to resound across the globe. People listened but those words are not quite true either. Because there are growing numbers of ordinary people in the Caribbean and in TT who have done things that are changing the world.

Astronomer and lecturer Dr Shirin Haque received the Anthony N Sabga Caribbean Awards for Excellence prize in science and technology in 2020.
Entrepreneurs like David Mullings, Helen Bhagwansingh, Dean Akin, Curtis Eustace went through storm and struggle, uncertainty and depression, which are the most important lessons you can get on the way to success.

I remember listening to Anthony N Sabga talk to a stupefied audience about going broke nine times before he reached financial stability. I never forgot it. The Caribbean is more than competent to send messages to the moon and beyond through its reaches into science and technology.

In Trinidad lives one of only 13,000 people in the world who belong to a select group of astrobiologists. Dr Shirin Haque even managed to get two stars in the sky visible from earth named after Trinidadian folk terms, Ramajay and Dingolay.

The list of Sabga Award laureates is long. There are now 54 of them, in fields not yet exhausted. They come from Suriname, Guyana, Jamaica, Barbados, St Lucia and other eastern Caribbean (OECS) islands even smaller than Barbados. They are academics, social workers, civic-society workers in NGOs that help people to learn how to help themselves. They come from fields such as youth work, educational services, religious organisations, cultural affairs, gender issues, domestic violence prevention, health, HIV/Aids, employment creation, substance abuse alleviation: anything that will benefit human and community needs.

Their very existence and the recognition of this talent is intended to show Caribbean people that they are equal in caring, creativity and intelligence to anyone who has been born in a country that produces rocket launchers, long-range ballistic missiles, fashions, or music, from children’s rhymes to orchestral symphonies.

Achievement does not have to be academic. Anthony N Sabga, who initiated the Caribbean awards that have recognised and, through substantial monetary prizes, enabled the continuation of the work of these laureates, was self-educated, starting his working life at 12, when his father died. He just kept on going. Today there are laureates in agriculture, medicine, entrepreneurship, arts and letters (including Marlon James, 2015 Booker Prize winner), and Lennox Honychurch from Dominica, whose work on the history of Dominica will be used by scholars for centuries to come.

There is an agricultural prince, from Guyana (where else?) who developed a form of rice that can be grown in salty water, which might just be what keeps civilisation going when wheat-growing fails and there is not enough genetically modified food left to save poor people from starvation.  From TT alone 12 laureates have been honoured. Over half were not academically inclined. They were not born with golden spoons in their mouths. They stumbled and fell over and over before they succeeded. When they started, they did not have well-known connections or jobs to slide into. In today’s world there will never be enough wage-paying jobs for everyone, graduates or not. Most specifically needed skills are learned through developing hobbies, volunteering, or on a job, not in classrooms, and those who want to succeed in life will have to make to make their own.

Heavyweight misrule since 1956 is the reason for continuing hardship and survival of the brightest and fittest.

 

 

Impact of war

GEOLOGICAL SOCIETY

At the time of writing the Russian-Ukrainian conflict is entering its seventh week. It is a major humanitarian crisis, with over 40,000 Ukrainian deaths thus far, triggering Europe’s largest refugee crisis since World War II. Over 4.7 million Ukrainians left their homes and a quarter of the population was displaced. The conflict is also having far reaching global economic consequences across many sectors, as both Ukraine and Russia are globally significant producers of commodities.

We will review some of these sectors in relation to the Trinidad and Tobago economy.

Agricultural sector

Ukraine is a world leader in agricultural exports. It produces 18 per cent of the world’s sunflower seed, safflower or cottonseed oil exports; 13 per cent of corn production; 12 per cent of global barley exports; and eight per cent of wheat and meslin (wheat and rye).

It is such an important contributor to food security across Europe that it is commonly called its “bread basket”. The only European country to rival Ukraine in production of crops like wheat, corn and sunflower is Russia. The ongoing invasion of Ukraine thus poses a serious threat to the vital supply of staple foods on which much of the world relies .

The shortages created by the sudden and significant removal of these agricultural products from the supply chain have led and will continue to lead to inflationary pressures on the prices of these products. As countries scramble to restore their food security with an already limited supply of global agricultural products, supplies will be routed to the countries willing and able to pay premium prices.

Trinidad and Tobago will undoubtedly feel the effects of these shortages and price increases as we visit the grocery stores and food establishments. Flour products and cooking oil are an integral basic input of our culinary offerings, so with any prolonged conflict we can expect limited supplies on our grocery shelves and paying more at food stalls and restaurants for our beloved food items.

Energy sector

In addition to both Russia and Ukraine being major agricultural commodities producers, Russia and to a lesser extent Ukraine are both significant oil and gas producers.

Russia is the third-largest oil producer after the United States (US) and Saudi Arabia at 10 million barrels a day but it is the world’s largest exporter of oil and petroleum products, according to data from the International Energy Agency (IEA). Russia is the world’s second-largest producer of natural gas, behind the US and has the world’s largest gas reserves. Russia is the world’s largest gas exporter. In 2021 the country produced 762 bcm of natural gas, and exported approximately 210 bcm via pipeline.

Europe is especially dependent on Russian gas, supplying 40 per cent of its natural gas imports. Germany and Italy are especially vulnerable to supplies from Russia, as they obtain most of their natural gas via pipeline networks supplied by Russian gas.

Ukraine has a century-long history of oil and gas production and possesses substantial conventional and unconventional hydrocarbon reserves, estimated at nine billion tonnes of oil equivalent (Btoe). Natural gas reserves are estimated at 5.4 trillion cubic metres (tcm), with proven reserves of 1.1 tcm of natural gas, more than 400 million tonnes (Mt) of gas condensate and 850 Mt of oil reserves.

In response to the invasion, the US and other European countries imposed various levels of sanctions on different sectors of the Russian economy. The US placed an outright ban on Russian exports, as well as cooperating with European countries to place various financial sanctions. As seen in the last few weeks, any conflict in this region will undoubtedly place upward pressure on oil and gas prices.

The invasion has not yet resulted in a loss of oil supply to the market. Prices nevertheless surged by US$8/bbl to US$105/bbl following the news on expectations that sanctions against Russia would cripple energy exports. It is currently unclear what the impact of sanctions will be on energy flows and how long any potential supply losses will last.

Any analysis of the oil and gas industry should not be taken in isolation, as the world is still normalising after two years of global shutdowns resulting from the covid19 pandemic. A sudden loss in demand with a resulting oversupply would have resulted in destabilising industry production levels and maintenance schedules. When there was a flash crash of oil prices on April 20, 2020, prices entered negative territory.

However, as the effects of the pandemic lessened and countries began to reopen their economy, demand for energy surged and placed upward pressure on prices. Thankfully the energy industry was already responding to this stimulus in demand by looking at ways to increase supplies months prior to the conflict.

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This would have resulted in some stability in the industry and prices not surging permanently in the weeks following the start of the conflict as there was spare capacity to absorb its effects.

A high-price energy environment would stimulate capital investment inflows into both the hydrocarbon and renewable energy sectors. Many oil and gas reserves that were previously uneconomic to produce in a low-price environment could now be brought on stream, especially if there is an estimation of a future increase in demand.

High energy prices also encourage a move towards renewable energy research and development. While oil and gas will remain the dominant energy source for the foreseeable future, global episodes like the covid19 pandemic and this conflict strengthens the case for alternative sources of energy and increasing energy security.

In TT, we have seen an increase in the prices paid for transportation fuels at the pump. Gasoline (premium and super rated) have been increased by 18 per cent and 20 per cent respectively. Diesel has been increased by 15 per cent. However, kerosene has been increased by 133 per cent. With the steady rise in oil prices over the last few months, it has become difficult to maintain prices at the pump at the current levels as we import our fuels. These increases, as argued by the Finance Minister, became necessary because at the previous pricing structure, the government would have been subsidising transportation fuels to the tune of $2 billion for 2022, with this expense coming from tax revenues.

These increases in prices at the pump would lessen the subsidy to $840 million in 2022. While it could be debated that we in TT paid a relatively low price for our transportation fuels and there was room for an increase relative to our Caribbean neighbours, we cannot look at the sector in isolation.

Transportation plays an important role in the production of every good and in the implementation of every service. Wage levels and the level of inflation and employment need to be considered as well.

In an environment with relatively static wages and rissing levels of inflation and unemployment, any increase in transportation fuels will lead to some level of economic hardship. We can expect increases in price levels, as well as some level of economic stagnation from the reduction in disposable income amongst citizens.

As the conflict drags on, the loss of life and humanitarian crisis it creates is very concerning. However, we in TT will feel the effects whenever we visit the grocery stores or the local restaurants or fill up our gasoline tanks.

There are other sectors which will be affected globally such as precious metals and finance. It is in everyone’s best interest for this conflict to be bought to a peaceful resolution in the near future.

[ This article was originally published in the GSTT Hammer (https://thegstt.org/publications/hammer) in May 2022. Steve Seetahal is a senior instructor at UTT in mathematics and entrepreneurship. He has an MSc in energy economics from UT Austin, an MBA from Harvard Business School, is a former Fulbright Scholar in economics and a former director on the board of the Central Bank of TT. ]

The flagrant alignment of PRC with Russia amid sanctions is a warning to Caricom, now in the tentacles of BRI, a debt-trap for states courted for strategic assets in energy, ports and other infrastructure.

 

 

UWI / GATE

Jun 05 2022

As Government seeks to reduce its expenditure, the issue of the high bill towards the Government Assistance for Tertiary Education (GATE) was brought forward by Finance Minister Colm Imbert last week.

Availability of government funding for nationals pursuing tertiary education has over the years led to a vastly higher intake of students than before it was first introduced in 2004.
In leaner times like now, this poses a problem for the Government, given that the higher intake of students is directly linked to the bill the Government must pay to the University of the West Indies (UWI) and other qualifying tertiary education entities.

The next step, is to have UWI review its courses and present to the Government those that it believes should continue to attract GATE funding and those to which the GATE should be closed.  The criteria for the choosing, however, haven’t been disclosed, the minister only saying that the Government will not tell UWI what to do.

A better approach might have been a mixture of Government and university experts working together to align the chosen courses with the Government’s medium and long-term plans.  GATE was always the intent of the Government to educate citizens towards the then Vision 2020 objectives.

With that vision having failed and being adjusted to a 2030 timeline, it has been less spoken of in the last few years and no doubt the pandemic would have put paid to the hope of achieving most of the objectives.

With world leaders having set deadlines for the reduction and elimination of fossil fuels as energy within the next few decades, it remains unclear what the new vision and timelines are to ensure sustainable and healthy growth when that time comes.

Although our annual budgets reflect on short to medium-term policies, the Government has to tell the country what the long-term direction is, particularly with the economic damage COVID-19 has done.  Like the 2020 and 2030 policies, there needs to be a clear statement on diversification goals, infrastructural development, the overall health and wellness of the nation, productivity enhancement, technology, national safety and food security.

It is only in this regard that our education investment can be aligned with the creation of the right professionals for the success of the vision.
While some of the short to medium-term plans arise in our annual national budgets, when our medium to long-term strategies are derailed, the political will and aggressive determination to get back on track as quickly as possible are often not there.

If we are to cut back on the funding of GATE, it must not just be about salvaging to fix our current problems, but about strategising to ensure it’s worth it in the long run.
To ensure that we get the best out of GATE funding, we must first be clear on what the endgame for the economy is with clear timelines of how we intend to get there.

In so doing, not only will the revised GATE funding continue to be an investment in our human resources, but also a sure investment in development.  Courses in sociology and related fields with little economic value which do not prepare students for work can be curtailed to maintain focus on practical professions to benefit the majority.

 

 

Electricity in Caroni

Scores of ex-workers living in bungalows owned by the defunct state company Caroni (1975) Ltd have been without electricity for over a week and want the supply restored. Owing to an aging and faulty electrical system, residents at Usine, near the old Ste Madeleine sugar factory, said 32 households had been affected. At a resident’s home, media heard most residents are elderly.In a power outage electrical appliances were damaged and food spoiled. The community does not get a direct power supply from TT Electricity Commission but from the old factory.

Resident Mahase Heeralal, an electrical engineer, told reporters that five transformers distributed supply to areas controlled by Caroni Ltd. Four transformers completed their life cycles and the factory only had one left. The life of a transformer was usually 20-25 years. A leaning utility pole caused a distribution line to the factory to break. Some residents use generators but complain they spend a lot on gas. Others buy ice to fill coolers. One had had to buy food and wants home-cooked meals.

“I heat water on my stove. It sent me back to when I was in primary school. We fill a bucket and throw some warm water from the kettle to get the right temperature and shower with that.”

Security was another major issue for residents who feared criminals would target them. Washington Demas, former president of the Association of Technical, Allied and Supervisory Staff at Caroni does not live in the area.  He said Caroni’s voluntary separation packages included the sale of the bungalows to the occupants but to date, there have been no sales, and the matter is pending in the court. He accused the company of failing to maintain the area.

Company CEO Lionel De Chi said the problem with the leaning pole which caused damage to the line, had been rectified. The issue was being addressed but he could not say when it would be completed.

“We fixed the original problem with the pole. But now we are having a new problem: people stole the cables in the compound.”

The cables were to be used to restore power.

Theft of state assets is widespread as crime escalates under police noses.

 

 

Vandals sabotage Touchstone pipeline

People from at least 12 homes in Fyzabad have been offered temporary housing as a result of Wednesday’s oil leak in water courses off Gowers Well Road. The spill happened on the compound of Primera Oil and Gas Ltd, a subsidiary of Touchstone Exploration Inc. The company estimates that a maximum of 240 barrels of oil may have been spilled when vandals cut an oil transfer line. Workers from the company continued overnight cleanup work to minimise the damage. A statement from Touchstone said the source of the leak had been isolated and contained. No injuries were reported.

“The safety and security of staff, operations, and community partners is Primera’s main priority. All impacted residents have been contacted and are being assisted while cleanup activities are conducted,” the statement said.

The company deemed the cut line an act of vandalism and notified all relevant authorities, including the police. Residents of the area said they began smelling the fumes , then spotted oil in the drains and other water courses and land. Company representatives had told them about the spill and offered them food. The company also provided housing at a building at Delhi Road.

Dial Samaroo said, “I did not take up the offer. I stayed home.

“They dropped off KFC last night. This morning they gave us pumpkin and roti for breakfast. “My wife and I just came from visiting a doctor in La Romaine. The company organised everything for us. I am feeling normal,”

He estimated about 40 people were affected.

Samaroo said he saw oil in his drain while a cow was grazing in bush across the road. He said he alerted the owner, who removed the animal.

He added, “Someone sabotaged the company. It is not the company’s fault.”

Other residents said the leak was the latest incident in the area. Less than two weeks ago, someone set a gauge hut on fire. Nearby, someone spray-painted “Ask Kern where my money for my pipeline” on one of the company’s tanks.

No one has been held in connection with either incident. Another affected resident, Anand Mahabir, said he lost a goat and two kids, as the animals were grazing, and the grass became contaminated. The family also lost several ducks and common fowls. He said his two children were complaining about the fumes, but he did not get a chance on Thursday to take up the company’s offer of a free medical checkup. The family spent the night at the building at Delhi Road. On Thursday, Mahabir attended the graduation of his son and niece, both students of Pepper Village Government School. He then went to a funeral of a relative. At Gowers Well Road near Bailey Avenue, the Mathison and Charles families said no one from the company had spoken with them. A total of 12 people, including a seven-month-old baby and two women, 64 and 66, live in their two-storey house.

“We did not know what was going on. Last night was bad. “Right now, its is breezy, so it is not as bad. We are seeing people cleaning up. They worked throughout the night,” a relative said.

A neighbour, Marlene Ali, 69, said the same thing.

“No one from the company talked to us. No one came and dropped off food for us. Workers are cleaning up. The smell is bad,” she said.

Responding to a question about the spill at Thursday’s post-Cabinet media briefing at the Diplomatic Centre, Energy Minister Stuart Young said he had not received any report on it. He had read a report about someone cutting a pipeline, but was not yet able to verify the information.

If there was sabotage, Young said he hoped there would be a proper investigation to find those responsible for that “very, very irresponsible criminal behaviour.

Such sabotage is common in Nigeria to steal oil and the Minister must boost security.

 

 

Tobago Biosphere Reserve

May 31 2022

On 7 June 2022, the North-East Tobago region will officially take its place as part of UNESCO’s World Network of Biosphere Reserves, in an official inauguration ceremony in the Tobago Main Ridge Forest Reserve.

The designation was announced by UNESCO’s Man and the Biosphere (MAB) Programme at the UNESCO headquarters in Paris on October 28, 2020. This added the North-East Tobago region to the list of the World Network of Biosphere Reserves, which now includes 727 biosphere reserves, which are home to 275 million inhabitants in 131 countries around the globe.

“UNESCO, together with the Government of Trinidad and Tobago and the Tobago House of Assembly, will officially inaugurate the UNESCO-designated North-East Tobago Biosphere Reserve on June 7, 2022. This activity will commemorate both the World Environment Day celebration and the 50th anniversary of UNESCO’s Man and Biosphere (MAB) programme,” explains an official release from UNESCO.

Representatives from UNESCO, government officials, tourism authorities, environmental organizations, and members of the local communities are expected to attend the inauguration ceremony.

The UNESCO release says on the morning of June 7, a human-sized statue of people holding up the Biosphere Reserve—sculpted by local artist Tomley Roberts, President of the Tobago Arts Association—will be unveiled to symbolize the importance of the Biosphere Reserve as a link to creating harmony and co-existence between local communities and nature.

Trinidad and Tobago stakeholders will also present a local database that provides access to UNESCO audio-visual material on the North-East Tobago Biosphere Reserve from the terrestrial, aerial and marine perspectives, hosted by the Environmental Research Institute Charlotteville (ERIC).

A rare and unique part of the world
The North-East Tobago Biosphere Reserve is a rare, largely intact Caribbean Island ecosystem that includes one of the oldest legally protected tropical rainforest reserves in the world, the Tobago Main Ridge Forest Reserve, established in 1776.

This forest reserve is the largest of the three so-called “core areas” (most protected areas) of the Biosphere Reserve, which also include the islet of Little Tobago and the St Giles Islets Complex. The total area of the North-East Tobago Biosphere Reserve covers 83,488 hectares, with a terrestrial area and a large marine area of 68,384 hectares that hosts coral reefs and mangroves, and underwater species such as manta rays.

Overall, 1,774 species have been recorded in the 19 habitat types of the Biosphere Reserve, which is home to globally unique and endangered plants and animals, including 83 endangered species and 41 endemic species. The area comprises 15 communities with rich historical and cultural heritage in North-East Tobago, home to approximately 10,000 residents. Parlatuvier Bay and wetlands are part of the North-East Tobago Biosphere Reserve. Tobago’s North-East region is now the largest MAB site in the English-speaking Caribbean Small Island Developing State.

By joining the World Network of Biosphere Reserves, the community aims to revitalize cultural and spiritual bonds between people and nature and boost the preservation of this fragile and remarkable human and natural landscape.

Biosphere Reserves promote the combination of biodiversity conservation, environmental education, research, and the preservation and promotion of cultural identity and heritage, while supporting knowledge generation and contributing to local and regional sustainable development.   The organisation aims to establish at least one biosphere reserve per country in the Caribbean Small Island Developing States by 2030, doubling the total area of Biosphere Reserves worldwide.

“UNESCO’s designation of Biosphere Reserve serves as a tool for protecting the unique Caribbean island ridge-to-ocean ecosystem in North-East Tobago, encompassing one of the oldest and last remnants of a dry tropical forest, as well as some important coastal and marine areas.”
“The North-East Tobago Biosphere Reserve will open a range of opportunities for economic recovery after the COVID-19 pandemic, especially for tourism, and for attracting international visibility and support.”.

Some of the expected benefits to Trinidad and Tobago include the generation of sustainable “green” (terrestrial-based) and “blue” (ocean-based) economic activities beyond tourism, including fisheries, agriculture, cultural heritage promotion, scientific research, professional and educational development, among others.

1. UNESCO-CICAR project in 1970-73 recorded the benthic microfauna in the bays of NE Tobago
2. UNESCO is committed to strengthening collaboration with local, national and international partners and stakeholders to manage and protect the natural and cultural heritage of the North-East Tobago Biosphere Reserve. UNESCO

 

Butterflies return to Botanic Gardens

ANDREW GIOANNETTI

Danaus plexippus (Monarch ) , Erato Longwing (Heliconius erato), White Crescent , Julia Heliconian and Mangrove Buckeye (Junonia genoveva) butterflies are returning to the Royal Botanic Gardens in Port of Spain.

Since November, volunteers led by environmentalist Serina Hearn of the Friends of Botanic Gardens of Trinidad and Tobago, created a garden of flower beds, which includes host plants for native butterflies.

Hearn said, “The native plants have a relationship with the native insects, including the butterflies and the moths. During the dry season, the rainy season, they wax and they wane with it. So we use native (plants).”

Butterflies and moths lay their eggs on hosts like milkweed are often overlooked and disregarded, cut down and put in landfills, a problematic national habit. Host plants are usually specific to the type of butterfly or moth. The caterpillars eat the plants after hatching. The decimation of native plants, therefore, naturally results in the decimation of butterfly species.

Hearn now wants to “bring the butterflies back home” to Port of Spain.
“I call this an act of repatriation for the butterflies, giving back what was stolen from them. We stole their native habitat. These are all transplants, but we’re now finally honouring the beings that were here before us and bringing them back has been a delight for us.”

Hearn, with tireless assistance from the volunteers, began carving out a garden in a design inspired by the Fibonacci sequence, a series of numbers, which on a graph is shaped like a spiral. The group has permission of the Ministry of Agriculture to extend it and plans to do so in the coming months.

The 204-year-old Botanic Gardens, a former sugar estate , is one of very few enduring landmarks in the capital. It remains an escape of relative quiet and clean surroundings.

The lawns are  trimmed except for an overgrown brick structure where a miniature herb garden once thrived.After six months ago, the butterfly garden has started to attract onlookers, volunteers and the treasured butterflies. Species of butterflies, moths and caterpillars specifically seen at the gardens are being documented on the website at inaturalist.org, where at least eight observations have been made thus far. Anyone is free to upload their discovery, along with identifiers.

The project began with a 3D design. For the first step, the lawn was covered to block light, leaving all beneficial microbes in the soil.

“Six months later, no weeds, and amazing soil. No purchased mulch.”

Gary Naringsingh of T&T Tree Surgeons contributed with ground-up trees for the paths, and with leaves and grass clippings for the beds. Jason Jaggernauth from We-native Ecoscapes, helped to lay out the grid and pound in the pegs before the volunteers began to lay down cardboard. Boxes, plastic bottles, coconut husks and cuttings were strewn across a section of the lawn. Hearn explained the rationale for the garden to people from all walks of life who began to assist.

“I didn’t know what this woman was doing all by herself with mulch, working every day. ‘What is she doing?’” said Danielle Elliot.

Jaggernauth explained, “We were bringing the soil to life and actually recreating a whole ecosystem from the bottom come up. Transplanting would have been virtually impossible had the soil not been restored. Everyone currently plays a role. “(Hearn’s) the designer, the artist. She has plans home in her safe somewhere. Everybody gets information, they go home, do research and share knowledge. We all donate what we can, water bottles, you name it, and do whatever is required. We’re happy to meet new faces and look forward to meeting more people.”

Wayne Ramcharan is another dedicated volunteers often working from 6 am until the gates close at 6 pm. He grew up farming produce and livestock and while less familiar with the flower and butterfly species like other volunteers, he is transfixed by the project and its objectives.

“I’m fascinated by the garden and the butterflies. I come every day. I just want to see it grow from strength to strength and I’m here to assist in any way I can. It doesn’t hurt. I enjoy it and I wish there was more time (in the day).”

Education, Hearn insists, is vital.

“We want to make a documentary to take to schools and to sponsors. “One step at a time…”

Respecting all animals and insects’ roles in the cycle of nature is a crucial element of education.

Pointing to a trail from a large mound of soil, Hearn said, “That giant bachac nest there is over 200 years old. We see them marching by every night, six o’clock. I forbid (caretakers) from killing it.”

While bachacs are often destructive, chemicals that would typically be used to eliminate them, and their nest would be even more harmful and destructive.

“We have to think about what we’re doing to the bugs as well. Every time you put poison in something, it has a whole reaction. This is about living in harmony with everything.”

Ultimately, the concept of attracting butterflies to their natural habitat is simple.

“If you plant what they want they will come of their own free will. That’s the bottom line.”

The emperor butterfly, namesake of the adjacent zoo, is no longer seen in Port of Spain. They anticipate its eventual return, like that of the Monarch butterfly, which is now seen with relative frequency. The splendour of the gardens in its heyday is well documented in Charles Kingsley’s 1871 book At Last: A Christmas in the West Indies. By today’s standards, Kingsley, a Victorian-era novelist and historian, would likely be discredited but in his book, Kingsley enthuses over the Botanic Gardens. He paints a vividly gracious picture of his surrounding as a Garden of Eden of sorts, detailing the abundance of brilliant butterflies, birds and flora around him, which elude the gardens today.

“If you look at (Kingsley’s) description, the habits, in the pictures of them, half of them do not have the host plants because they do not know what they are. Even back in the 30s, 40s, 50s, they had no idea they were going to kill the planet – because that is what we’re doing. It was just taken for granted.”

Yet problems associated with the decimation of butterfly colonies transcend the Botanic Gardens and are widespread , exacerbated by a lack of action from the authorities who do know better. Hearn lamented two problematic practices of the Community-based Environmental Protection and Enhancement Programme (CEPEP). The first poor habit is cutting and dumping of organic waste in garbage bags, which creates high levels of methane gas. Daily dumping of “methane bombs” at landfills has drastic direct and indirect consequences for the environment and personal health and safety. The other is cutting and dumping certain species of plants, which better serve the environment by being left alone, especially hosts for butterflies. What is cut should be composted. These practices are not limited to CEPEP but having engaged the line minister on the matter, she has argued that education, awareness and systematic changes are essential. One volunteer said the garden has given him a new appreciation for life.

“This is not a simple garden with butterflies flying around. This (symbolises) growth and understanding who you are as a person, understanding that life is way more than we think it is. And of recent times, how life has changed, coming together as communities, forming this kind of energy…I was amazed by this, everybody putting in and taking responsibility for themselves to be here.”

Hearn said the garden and similar gardens also have the potential to stimulate eco-tourism.

“We do have 760 (species of) butterflies and moths. It’s massive for this tiny island, because we were part of Venezuela. This is a living butterfly museum, if you like.”

There is a long way to go to bring butterflies back to ideal numbers but with consistent volunteer support and adequate corporate support the project can be sustainable and have an impact.

UWI Faculty of Agriculture, a treasure trove of research can contribute to the project in this centennial year of ICTA, its founding college.

 

 

Faith

Jun 15 2022

Prime Minister Dr Keith Rowley says the nation is facing various challenges, a massive understatement.

I extend Greetings to the Christian community on this occasion of Corpus Christi, also known as the Solemnity of the Most Holy Body and Blood of Christ and the day of Thanksgiving for the Institution of the Holy Communion. This greeting comes from the Government, and all the citizens of the Republic, my family and myself, as Prime Minister.
This 13th-century tradition is one of the fundamental tenets of Christianity, specifically within the Roman Catholic and Anglican Churches. It is a day when Jesus Christ is praised for nourishing us with love.

This comes at a time in the life of this country, when all citizens, regardless of their religion, should recognise the need for us as humans to reach and call out for the intervention of the Almighty in the lives of us all in our nation.

The verses of Mark seem to be talking to us as a nation at this time. There is a definite need for us to have faith. What the disciples required then was a new level of faith, an understanding that in spite of the events which may occur they must show faith in God, for the Almighty is always in our lives, guiding our every action. His divine, creative action, if we allow him, will stay with us at all times, at every level of our faith.

Fellow citizens, our nation is facing various challenges. We are a small, newly-independent nation, which by our history, physical and human resources can be classified, as enjoying a quality of life, according to some indices, which places us alongside some countries in the developed world. However, other indices will place us in another direction, based on events which appear regularly in our news. As a resource-based economy, our livelihood is still, subject to the vagaries of the international energy markets.

At a glance, there is also an obvious need to improve our national infrastructure of water, electricity, roads, etc, attend to the pockets of poverty among us, and improve the social conditions. But above all, what has been occupying the nation’s attention recently are the levels of both school violence and the reported series of incidents of intra-family conflicts. My Government has been paying specific attention to these two areas and will continue to make appropriate interventions.

For the moment, what seems obvious is the family structure, as we know it, has been eroded. The family unit appears to be no longer sacred. How do we fix this is a question that some of our better minds, in the fields of sociology, psychology and social work will need to examine and provide strategies on how to rescue the traditional family unit.

Today, we should, according to tradition, occupy our minds with the basic tenets of love in every circumstance, extending to each other courtesy, patience, kindness, temperance, humility, and sincerity, at all times. Let us, as Christ advocated, be our brother’s keeper. Have a Holy, enjoyable holiday.

[  Such preaching from a prime minister wIth a chapel in his official residence cushioned from the vagaries of existence, belies his lack of compassion and imagination, his crudeness, nonchalance. and faux piety.

He attacked the Indian High Commissioner when diplomacy was required to obtain vaccines.. He supported his rude Minister of Housing publicly disparaging the former Prime Minster, contemptuously branding her as cowardly, deceptive, dishonest and disingenuous, mockingly mispronouncing her noble name, “Kamla Sushilla Persad-Bissessar” repeatedly as a joke to provoke laughter, derision and snickering in the PNM crowd..The minister claimed her perfidious party was founded on principles of ethics, morality, respect and honesty but the founder was a bigamist and the record of the regime since 1956 is littered with fraud, immorality, disrespect and dishonesty to this day.  ]

 

 

Ministers dismiss UNC mismanagement claims

Public Utilities Minister Marvin Gonzales and Housing Minister Camille Robinson-Regis dismissed claims from Princes Town MP Barry Padarath about mismanagement in the utilities sector. Padarath demanded that Gonzales be fired or resign and questioned his relationship with suspended Water and Sewerage Authority (WASA) CEO Sherland Sheppard, if Sheppard defied an instruction from WASA’s board to publish the list of companies in debt to WASA and if Sheppard was orded by Gonzales to remove two mega-companies from that list.

Padarath asked if those two companies were “an archipelagic island water park and a water company that produces drinkable water, blue and pristine as can be.” He asked whether people affiliated with those companies were beneficaries of state contracts.

WASA said Sheppard was suspended over failure to enforce a decision from the board. Gonzales said, “I am connected to no CEO or chairman under my ministry.”

He challenged Padarath to explain how former public utilities minister Ganga Singh became WASA CEO under the tenure of the former UNC-led People’s Partnership coalition government.

Padarath also said there were social media advertisements about properties owned by the Telecommunications Services of TT (TSTT). While this was happening, he claimed that TSTT was leasing properties from a company named JC Landing for millions of dollars. Padarath asked if anyone in that company had ties to the PNM.

“How long has this been going on?”

Gonzales replied, “Regarding the sale of TSTT’s property, I am satisfied that the company followed its internal and governance processes regarding the sale of its assets.”

He  promised at the appropriate time to provide written evidence to debunk all of Padarath’s claims.

Robinson-Regis is the chair of a Cabinet sub-committee formed in March to review the current status of TSTT and make recommendations for its future. Other members of the committee are Gonzales, Finance Minister Colm Imbert, Energy Minister Stuart Young and Digital Transformation Minister Hassel Bacchus.

She said, “As usual this statement is completely unfounded and the MP (Padarath) is misinforming the public which is how they all conduct their politics. They (UNC) have no relationship with the truth.”

Announcing the subcommittee’s formation on March 3, Young said, “A decision was taken by Cabinet to appoint a sub-Cabinet committee to look at TSTT’s current position, and the status they are in now.

“Secondly, are they fit-for purpose in an ever-changing world, in a revolution that’s taking place in the telecommunications industry and thirdly, on behalf of the people of TT, to come back with recommendations to the Cabinet as to what should be done with TSTT and include a valuation of the current value of TSTT.”

 

 

 

PNM principles

Ancil Dennis, new PNM Tobago Council political leader said his party had strayed from its principles.

Dennis was officially named PNM leader after the party’s internal elections on April 24. “I want to take this opportunity to say sorry to the people of Tobago, not just the party membership but to the people of Tobago for some of the things that were done, for some of the things that were said, for the ways in which we operate which were completely unbecoming of the principles upon which the PNM stands.”

The Progressive Democratic Patriots (PDP) crushed the PNM 14-1 victory in the THA elections on December 6, 2021. Dennis said one of the first things is treating with the division within his party.

“Of course, some persons were offended, not only PNM members but Tobagonians generally felt offended by the manner in which we operated in some cases. It is something that we cannot escape, a lot of it made its way into the public domain.”

In terms of what will be done differently , he said for the first few months, the new PNM executive will focus on three pillars – people, development and consultation.

Consultation requires the executive to talk not only to the membership but to the people of Tobago.

“One of the things I propose to do differently is whereby we have grown accustomed to the manifesto approach where a few months before the election the party would come and do this manifesto, I am going to take the party into a direction of doing a platform which is going to be a long-term development document. A 25-year development plan that the PNM would be proposing to the people of Tobago for the development period 2025-2050.”

This requires tremendous consultation.

“We are going to go back and talk to our membership, we are going to talk to the people of Tobago,, get a sense as to what they consider the issues and of course in some cases we know – but I think there is still a requirement to go back and talk to the people and develop a comprehensive platform that the party would be selling to the people of Tobago by the time we get to the next election.”

 

 

Carmona eulogy

A life well lived. Former president Anthony Carmona said this phrase aptly summed up the life of his father Dennis, 95 who died on June 11. Delivering the eulogy at his father’s funeral Carmona reflected on things which distinguished Dennis, a skilled worker in the oilfields of South Trinidad in his early professional life. He worked for three foreign oil companies, run by expatriates with kindness, ruthless efficiency and condescension.

As a member of the Oilfield Workers Trade Union (OWTU), Dennis was not afraid to stand up for his rights and he and his colleagues later received promotions because of their hard work. A man of indomitable faith, Dennis rode a bicycle from home in Palo Seco to the oilfields in Santa Flora daily, suggesting the company was BP.. Among mourners were Fyzabad MP Dr Lackram Bodoe and Justice Frank Seepersad.

 

 

Angostura reaps more profits

May 03 2022

Angostura recorded an increase in its profitsd despite declining rum sales last year compared to 2020,

The company reported profit after tax of $158.3m for the fiscal year ended December 31, 2021, an increase of 8.7% over the prior fiscal year.

In the Annual Report for 2021, Acting Chief Executive Officer Ian Forbes said, “Despite the continuing impact of the coronavirus, the Group recorded profit before tax of $214.5 million which represented an increase of 0.8% or $1.7 million over the prior comparative period.”

This continued the upward trend of revenue, gross profit (GP) and results from operating activities over the five-year period 2017 to 2021.

“Revenue increased by 1.8% to $921.6 million compared to $905.4 million recorded in 2020, making this the fifth consecutive year of top line growth following a period of revenue contraction from 2015 to 2016. In addition, the revenue achieved in 2021 was also the highest revenue recorded by the Company over the past seven years,”

This was “a monumental achievement despite the difficulty and uncertainty of the second year of the coronavirus pandemic, with severe challenges in the local and global economy. The coronavirus pandemic had a more severe impact on Trinidad and Tobago in 2021 vs 2020 with reduced consumer spending due to unemployment and re-prioritisation of expenses to more essential items, as well as higher numbers of COVID-19 cases, hospitalisations and death.”

Chairman Terrence Bharath said despite the decline in revenue in T&T, the company continued to push innovation.

“Revenue in the local market declined by 1%, or $8m. However, Angostura continued its innovation drive which boosted revenues, with new products in every segment. In the premium rum segment, the launch of Angostura Tribute and Symphony in December was well received. In standard rums, White Oak Grapefruit and Pineapple flavoured rums boosted local consumption. The innovative Tamboo Spiced Rum was launched locally and will be expanded internationally in 2022.”

While local branded business sales were lower by $3.5m or 1% mainly due to reduced local rum and other alcohol sales as bars and restaurants were closed for the vast majority of the year and re-opened with restrictions, the revenue attained in 2021 was due primarily to strong growth in Europe, Middle East, Africa and Australia including the United Kingdom of $20.3m or 30% as the region recovered from the pandemic effects in 2020, bars and restaurants re-opened and activities resumed in many countries across that region. Rum growth in Africa is surprising as over 300 million are hungry and Red Cross and UN seek donations.

 

 

Indian Heritage

Divali Nagar at Chaguanas came alive with the classical sounds of Indian culture in celebrations to commemorate Indian Heritage month and the 177th anniversary of Indian Arrival on May 30..

The events, hosted by the National Council of Indian Culture (NCIC), began with an Evening of Folk Culture (Lok Sanskriti). It featured folk songs from Kajri Bhajan and Vivah Geet, traditional chutney from Jhaal Ramayan, chowtal, biraha/nagara, pitchkaree and local composition presentation of items by Naresh Timal (Biraha Raja), Nisha Ramkissoon, Shiv Sangeet Sangh Ramayan Group, the Biraha Raja Chowtal Group, Rukminee Beepath and Rasika Dindial.

PRO Surujdeo Mangaroo said the celebration is in keeping with the continued effort to develop and sustain cultural traditions. All events were held at the NCIC Nagar site with free admission and parking.

The Evening of Indian Classical Music (Shastriya Sangeet) feature the bansuri, tabla, sitar, sarod, violin and harmonium.

Guests enjoyed vocals by Rana Mohip, Shivanand Maharaj, Narinder Maharaj, Anil Maharaj, Sharda Patasar, Sachin Boodram, Arista Katwaroo, Sanjay Boodoosingh, Anup Ramsundar, Sadanand Brahmadat and Purwa Joshua. For lovers of local classical songs, NCIC paid tribute to the legends with taan singing on May 21.

Performances were given by Dubraj Persad, Debashish Ramdath, Karishma Dhowtal, Nirmala Seesnarayan, Veejai Ramkissoon, Moonilal Girdhari and Rakesh “Raja” Yankaran.

An exhibition of a book festival, visual arts. pottery, design and poster display on the early years of Indian cinemas ran from May 21-June 6 from 2-7 pm.

Scintillating and colourful performances marked an evening of dance on May 28. Among the dancers were Sandra Sookdeo Dance Group, ZeeTv Shiv Shakti Dance Group, Khalnayak Dance Academy, Prema Shakti Dancers and Theatre Workshop, Radha Krishna Dance Group, Kiss Natraj Dance Co, Nritya Sangam Dance Group, Susan Mohip and the Nritanjali Dance Theatre.

The month of cultural activities ended on Indian Arrival Day with Gormitya Ki Yatra (Journey of the Indentures) from 5-8 pm.

Talented sons and daughters showcased their talents in the various genres of Indian music, songs and dance. Artistes included Rana Mohip and the Sargam International Orchestra, Kimlyn Boodram-Persad, Mukesh Colai, Satnarine Ragoo, Saraswati Maharaj, Abhijit Anchortassoo, Nelisha Mohammed, Susan Mohip Dance Group and Rooplal Girdhari

 

 

Land for Longdenville Presbyterian Primary

The Presbyterian Primary School Board of Education is in the final stages of acquiring land to build a school for pupils of Longdenville Presbyterian Primary School. The board’s chairman Vickram Ramlal said it was aware of the parents’ concerns and was in discussions with the Commissioner of State Lands.

“It is our hope that this will be finalised shortly, and the Ministry of Education will then allocate funds to commence construction.”
After 20 years without a school building the board was quite aware of the concerns, frustration, stress and anger expressed by the parents for a building.

The school , which was annexed to the church, has been condemned. The pupils were then housed at the nearby Longdenville Government Primary School and the Jerningham Community Centre in Cunupia.

As the Government Primary School’s student intake grew, the Presbyterian students were moved to the community centre. Parents protested outside the Community Centre over the lack of a school building and poor infrastructure at the current site. There were about 101 students, teachers, and auxiliary staff at the centre.

“The board is in discussion with the ministry at present to alleviate some of the infrastructure problems at the Jerningham Community Centre and to make it a more conducive learning environment.”

The board was also working on getting the ministry to provide transport and improve security at the school, but no definite timeline was given on when this could come into effect. The board had tried to find land near the church on the Longdenville Main Road.

“Unfortunately, no such site was located in close proximity to the old site. Upon a request from the Presbyterian Church in 2012 the Government allocated and Cabinet approved a site in Cashew Gardens.”

 

 

Cashew Gardens

19 JULY 2021

Tasker Avenue in Cashew Gardens, Edinburgh is one of many roads in that area in a deplorable state.

Residents of Cashew Gardens in Carlsen Field go to sleep at nights wondering if they will awaken the next morning with their houses crashed. This is because the land on which 20 houses are built, appears to be sinking. An incomplete drain on the Edinburgh Road which runs at the back of the houses on Soursop Avenue, is believed to be the cause of the problem, as for years, water has been seeping into the porous earth causing it to become unstable.

The community grew in 2005 – about the same time the then National Housing Authority (NHA) was repurposed into the Housing Development Corporation (HDC) which was responsible for completing the drain.

The foundation of a house in Cashew Gardens, Edinburgh first cracked and then widened causing a rip in the wall. Residents say an incomplete drain is responsible for years of water seepage which in turn undermined the land on which their houses are built.
Cracks were clearly visible on the walls and concrete skirting of houses on Soursop Avenue.

At some houses, the cracks which started at the base have climbed up along walls and some houses have begun to separate from the concrete walkway built around them.

One resident who works in the protective services said, “When we moved in here about sixteen years ago, the HDC told us not to do any construction in the ground for five years because the land has to settle. Besides the cracks on my house, my neighbour decided to erect a wall behind the house. He had to dig six feet to start the foundation because of the water coming up from underground.”

An incompletely built drain, hidden by thick bushes, to the back of a row of houses in Cashew Gardens, is being blamed by homeowners for water seeping into and undermining the foundation causing cracks to appear on the ground and walls of their homes.
The resident said that in some of the houses, whenever the rainy season comes, water seeps up from the foundation as the surrounding land becomes water-logged.

“Before we moved into the houses we brought the drain to their (the HDC) attention and they said they would come and finish it after.

“We have had many consultations with the HDC since then, telling them that the erosion from the incomplete drain is causing the land to move. They still haven’t done anything. Every year the rain falls and it takes away a piece of the land behind the houses.”

The owner of the first house to the end of the road had at least ten feet of land to spare behind his house when he first came to live in Cashew Gardens. “Every year, the water keeps taking away a piece of the land, bit by but. Now it has reached right up to the man’s wall which can fall at anytime.”

Even utility poles on the road are leaning because of the unstable land.

“You can go to sleep in the night with a dry floor and when the rain falls in the night, you can get up in the morning to your floor covered in water from the seepage.”

Another home-owner living in the community since 2005, said she first started seeing cracks on the walls of her house five years ago.

“A newer development on the other side (of Edinburgh Road) is also affecting our houses as the drainage there is clogged, so apart from water from the incomplete drain at the back of the avenue, is water from across the road from the newer development. I don’t know what to do because water is now coming inside the house from underground. The house is starting to feel like it’s sinking. My backyard is always waterlogged even though there is no rain. I don’t know what to do, we need to get this fixed.”

The wall of a house in Cashew Gardens haas completely separated from the concrete skirting due to the instability of the earth below which residents say is caused by water seepage from an incomplete drain in the HDC development.
The issue of sinking land and cracking walls and foundations is not the only ones the residents have to deal with.

“Our roads are probably among the worst in the country. Right on Tasker Avenue as you enter, you can see for yourself the dilapidated condition of the roads. There is flooding now because of the poor drainage and now is rainy season. The potholes are huge. And don’t talk about Edinburgh Road..”

Residents are also asking for a community centre and a recreation ground. Roads in need of repair are Balata Drive, Guajara Drive, Tamarindo Drive, Cycad Avenue and Edinburgh Road.

Resident affected by the sinking land, showed correspondence sent to residents by the HDC in June 2020.

“An investigation into your enquiry reveals that the area of erosion at the Cashew Gardens, Carlsen Field community, which was affecting the perimeter wall, was subsequently supported by the extension of the drainage wall to mitigate against further erosion.

“Since these measures were put in place, there was one minor erosion earlier this year in the other areas of drainage works that are in further proximity to the occupied houses.

“Notwithstanding the above, and given the current rainy season, the contractor will be shoring (a method of comprising a combination of steel columns and steel sheeting driven into the ground to provide retaining support) to the additional affected areas will be done in collaboration with benching (cutting the sides of the drain in a slightly stepped format) to further reduce the possibility of erosion and slippage.

“These activities are anticipated to commence during the course of the week.” That was over a year ago with nothing being done.

The residents claim that the HDC has changed its tune and is now passing liability and responsibility to the Couva/Tabaquite/Talparo Regional Corporation.

The residents showed another HDC correspondence.

“The earthen drain which runs parallel to the Edinburgh Road is eroding. The earthen drain does not service the Cashew Gardens Development. Instead it collects run-off from neighbouring private developments. The earthen drain does not lie within the HDC’s boundary.

“Based on the above, it can be concluded that the earthen drain falls under the purview of the respective regional corporation. As such they should be engaged to conduct remedial works.

“While the HDC’s residents may be adversely affected with continued erosion, the HDC does not have the authority to conduct works on this drain. However, the relevant HDC Department will liaise with the corporation on behalf of the residents.”

However, nothing has been done and residents have been left to fend for themselves, as has been the case for years.

 

 

The buck stops here

Late Prime Minister Patrick Manning Vision 2020 was built on five pillars: competitive business environment; innovative people; caring society; effective governance; sound infrastructure; and environment.

Its crafting involved many of the top minds and leaders. Vision 2020 was meant to be bipartisan and had as its cornerstone the modernisation of everything from energy to national security.

Manning himself did not achieve some of his own targets, especially on inflation that led to the overheating of the economy and made home-ownership in particular, out of the reach of the working class. At least he had a vision, a call to action, a pathway to dream of moving out of this third world, plantation economy with poor infrastructure, failing state enterprises, insecurity and unsustainable spending.

It was recognised that to get there required a growth rate that exceeded inflation and that structural reforms, including the linking of the energy sector to manufacturing, were necessary.

, Finance Minister Colm Imbert presented the 2022 Mid-Year Review and told the country that things were looking a lot better than it did when he presented the 2022 Budget last October.
Revenue was significantly up, buoyed by the higher receipts from the energy sector, with higher revenue and more economic activity that flowed from the opening up of the economy post-COVID-19 lockdowns.

The Minister was pleased that he did not borrow any money to meet Government expenditure since the start of the year. He was now in a position to predict that he was unlikely to need to borrow for the rest of the financial year, as energy prices were likely to remain good for the next four months of the fiscal year.

Higher revenue meant that the Government could pay some bills, like its effective loan of withholding VAT refunds to businesses. The Minister has the temerity to suggest that he was providing an impetus to businesses by repaying them their own money, which he effectively borrowed and which is never registered on the books as government debt.

Revenue generation meant that some had to go to the Heritage and Stabilisation Fund. Imbert and the Government took the opportunity to pat themselves on the back for adhering to the law.
The Minister did not account for performance of the economy outside of the windfall, for which he has no control and can take no credit.

The prices of commodities are not sustainable and will go down within the next 12 to 18 months. So, while the country must be happy and make the best use of the windfall, it is not sustainable, and in any case, T&T must fix the structural problems that afflict the economy or it just will not do well as a country.
MPs acted as if the need to account for the measures in the budget was not important and the requirement to chart a vision for the future not necessary.

The Minister of Energy makes the straw man argument that someone was trying to traduce him by calling out his attempt, to at best palter, when he was interviewed by CNN’s Richard Quest.

One might have hoped from the Minister, a defence that suggested that should the political and economic isolation of Venezuela end, there could be a path to both cross-border and across-border gas with the ability to produce all of the 10 tcf in Loran/Manatee and get another 500 million standard cubic feet per day from gas being flared offshore Venezuela.

He could have talked about the BHP project and the plans to bring it to market, or the potential of the new deep-water blocks on offer, or the plans to launch the on-land bid round, and the success of Touchstone inspiring interest in more on-land exploration. But hubris allowed him to focus on the messenger and not the message.

He should have mentioned the digitisation plans and public sector reform that will see the modernising of a technology-driven public service and one where the State can legitimately afford to pay people proper salaries while it retrains and prepares those workers who will have to find alternative careers in the private sector.

Neither the regime nor the Opposition think that the focus must be on the government easing itself out of the high levels of transfers and subsidies and focusing on protecting the most vulnerable.

The Minister of Finance was right to raise the issue of the amount of money spent on the Senior Citizen Grant and must ensure that in the next 15 to 20 years, the grant is not the burden it threatens to be and that contributory pensions plans must be the order of the day.
It cannot be good enough to live a life where you never pay taxes or NIS and get rewarded for living to 65. All must seek what is in the best interest of the country.

The Opposition never raises the issue of the rate of investment in this economy which, as a component of aggregate demand, is important, because of its ability to influence the productive capacity of the economy and thereby boost economic growth.

The acceptance of the state of the roads, the 12-year Point Fortin Highway project, the hundreds of murders, the crassness of the politics, the ability of the Prime Minister to be nearly conned with no one asking about the absurdity of him trying to reach the UN Secretary-General on his mobile phone, with no one to take notes and listening in on the call, all reek of a third-world society.
The politics of the day make a political football of the wounds inflicted on children and the passing of the buck on the Robert Sabga report. The issue is why nothing has been done about the report.

Attention has again been turned to the failure of institutions., the Scott Drug Report, the report into T&TEC that never envisioned a national blackout, the report into East Port-of-Spain.
Port-of-Spain floods every rainy season, water is not available to 24/7, police have a detection rate of 15 per cent at best and justice must happen at snail’s pace. The buck stops with the Prime Minister.

 

 

 

PIARCO

FILE PHOTO BY ROGER JACOB

Skytrax World Airport Awards 2022. declared Piarco International Airport the Best Airport in the Caribbean. Airports Authority of Trinidad and Tobago said the airport was also named third best in the global region (Central America and the Caribbean), only being beaten by Panama’s Tocumen International Airport and Costa Rica’s San Jose International Airport.

General manager of the authority Hayden Newton said “These accomplishments are as a result of the perseverance and resilience of our employees, who continue to work diligently, despite prevailing challenges, to ensure that we consistently achieve high standards of safety and security while demonstrating operational efficiency and service excellence.”

The authority intended to continue leading the region by “maintaining the highest standards of operational efficiency and customer service at both the Piarco and ANR Robinson International Airports, and making valuable contributions that would enhance the attractiveness of destination TT.”

This is the second consecutive year that Piarco Airport has claimed this honour.

 

 

Trinidad and Tobago, UK celebrate 60 years of diplomatic relations

Dr Amery Browne, Minister of Foreign and Caricom Affairs, said the commemoration of the platinum jubilee coincides with 60 years of diplomatic relations between Trinidad and Tobago and the United Kingdom.

Browne delivered remarks at a reception to celebrate the platinum jubilee of Queen Elizabeth II of the United Kingdom of Great Britain and Northern Ireland on June 15, held by UK High Commissioner Harriet Cross.

Commending Cross for her contribution to the advancement of relations between TT and the UK, Browne noted her strong sense of duty and took the opportunity to thank Cross and the dedicated staff at the High Commission for their continued support to the ministry.

Browne emphasised the collaboration between the two countries in sectors including energy, education, health, security and trade.

He pointed out that the relationship extends beyond bilateral engagement, referring to the “support provided by the UK through its trade relationship with the wider Caribbean region, as demonstrated by the Cariforum-United Kingdom Economic Partnership Agreement.”

Brown extended warmest wishes for continues good health and well-being to the queen on behalf of the government of TT.

 

Five planets align on June 24

when five planets will align and will be easy to see with the naked eye.

Mercury, Venus, Mars, Jupiter and Saturn, in that order, will be aligned for the first time in 18 years. It may be possible to see Uranus between Venus and the moon with binoculars or a telescope, once the skies are crystal clear.

According to ScienceFocus, “The best time to see the planets align will be between 3.39 am and sunrise at 4.43 am on the morning of 24 June.”

The planetary alignment as seen at 4:10am on 24 June 2022 © NASA/ESA/ESO/Space Telescope Science Institute/IAU Minor Planet Center/Fabien Chereau/Noctua Software via sciencefocus.com

Saturn will appear first, just before midnight, Jupiter will be next to appear, around 1.07 am, followed by Mars at 1.37 am, then Venus at 3.03 am and finally Mercury at 3.39 am. Stargazers look forwardt to this rare phenomenon on June 24, which will vanish around 4.43 am and appear again in 2040. The alignment of the eight major planets of the solar system has only occurred once, over 1,000 years ago, in AD 949. The next occurrence will be on May 6, 2492.

 © NASA/ESA/ESO/Space Telescope Science Institute/IAU Minor Planet Center/Fabien Chereau/Noctua Software via sciencefocus.com