South
Chamber: Allow private sector to buy energy shares
By
Driselle Ramjohn
Trinidad
Express
Port
Spain
Petroleumworld.com
07 30 06
THE SOUTH Trinidad Chamber of Industry and Commerce
(STCIC) yesterday urged the Governments of Trinidad
and Tobago, Jamaica and the Bahamas to ensure that
the regional private sector is given the opportunity
to invest in Mirant's sale of their shares in power
generation and transmission in the Caribbean.
The
STCIC said that it is advocating the creation of
a common Caribbean Energy Policy, which would include
increasing Caribbean equity participation in the
energy sector as a major objective.
President
of the STCIC, Rampersad Motilal in a release, stated:
"The sale of Mirant shares in the power generation
sector represents an opportunity for the Caribbean
private-sector to get more involved in the energy
sector.
"Regional
Governments should use their existing shareholder
agreements and regulated industry status to make
this potential opportunity available to the local
private sector-whether or not the Caribbean private
sector is willing and able to invest remains to
be seen, but the opportunity should certainly be
explored."
This
country's Government policy position as outlined
in the Local Content and Participation Policy it
said, supports the proposals put forward by the
STCIC.
One
of the areas for Government intervention outlined
in the policy it explained, is the "use of
Government interests and influence in existing projects
in the state enterprise sector to drive increased
local equity participation".
"The
Government through the Trinidad and Tobago Electricity
Commission has the direct ability to significantly
influence the sale of Mirant shares in Powergen.
"Given
the traditional concerns regarding efficiency associated
with most wholly-owned state enterprises in the
region, the STCIC is of the firm opinion that the
interests of all citizens will be best served by
continued significant local and Caribbean private
sector involvement in the power generation and transmission
sector.
"The
STCIC does not therefore, favour the calls for re-nationalisation
of the power generation sector, as advocated by
some groups," it stressed.
Trinidad Express
Friday, July 28th 2006
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