Three
removed as Petrotrin probes subsidiary
By Louis B Homer
South Bureau
Trinidad Express
Port
Spain
Petroleumworld.com
09 17 06
State-owned oil company Petrotrin is conducting
an enquiry into the operations of its subsidiary,
Palo Seco Agricultural Enterprises Limited.
Yesterday
a senior official of Petrotrin confirmed that an
internal investigation was under way and that three
senior members of PSAEL had been removed from the
company while the investigations were taking place.
"The
investigation is being undertaken by the company's
internal audit department," the official said.
One
of the company's senior employees was sent on compulsory
leave and two were returned to Petrotrin's head
office at Pointe-a-Pierre while the investigation
is continuing, the Express learned.
PSAEL's
chief executive officer, Francis Bertrand, former
mayor of Point Fortin, could not be reached for
comment yesterday.
In
the last 13 years, PSAEL has totted up a loss of
$31 million and was spending some $100,000 a month
to maintain a milk plant.
Plans
by the company to produce enough milk for use in
the nation's school feeding programme did not materialise
and several herds were sold by auction.
PSAEL
is a subsidiary of Petrotrin and currnetly manages
the properties and agricultural holdings of Petrotrin
and Trintopec, one of Petrotrin's predecessor companies.
Most
of the company's equipment is stationed at Palo
Seco.
PSAEL
was due to be sold in 1999 but after the sale fell
through the company's operations were scaled down.
Trinidad
Express
Monday, September 11th 2006
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