'Gas
subsidy removal will make life hard'
Port Spain
Petroleumworldtt.com
01 27 08
Leaders
of several business organisations in the country said yesterday that the
removal of any subsidy for gasoline and diesel would hit consumers hard
and make life more difficult.
Daphne
Bartlett, president of the San Fernando Business
Association, said she was amazed that
Government was even considering removing or reducing
the $2 billion a year subsidy, "considering
the hardships citizens were experiencing with the
increasing cost of living".
Leonard
Bradshaw, public relations officer of the Point
Fortin Chamber of Commerce, said: "It
will impact very heavily on the cost of living.
The cost of transportation will go up and there
will be a drastic increase in the cost of goods
and services. Government would be well advised
to come clean and tell the nation all the reasons
why it will be necessary."
Energy Minister Conrad Enill, in an interview
with the Express at the weekend, disclosed that
the Government was conducting a preliminary examination
of the subsidy in light of record high global oil
prices.
Last Friday in Parliament, Trade and Industry
Minister Keith Rowley said the time had come for
the Government to reconsider the subsidy given
the global price of oil, which is now hovering
at around US$90 a barrel (See Page 43) and the
fact that it was paying this price to import oil
for the State-owned refinery Petrotrin.
Rampersad Sieuraj, past president of the Penal/Debe
Chamber of Commerce, agreed that the cost of goods
and services would increase.
"This would have an effect on all goods and
services. It would also have a multiplier effect
in terms of costs to consumers," he said.
Raj
Jadoo, president of the Arima Business Association,
also frowned on the move. "This will send
everything sky high," he said.
Feeroz
Khan, immediate past president of Couva/Pt Lisas
Chamber of Commerce, said reduction or removal
of the subsidy would have significant negative
consequences. "It would be a sign that we
should start tightening our belts. The decline
in the US economy is a sure sign that we need to
start thinking about savings."
Story
by Carolyn Kissoon and Louis Homer from
Trinidad Express , South
Bureau
Trinidad
Express
Wednesday,
January 23rd 2008
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