Gas subsidy
stays—Enill
The Trinidad Guardian
Petroleumworldtt.com 03 30 08
Energy Minister Conrad Enill yesterday insisted
that government had not made any decision to reduce
or remove the gas subsidy which stands in the vicinity
of $2 billion.
“Nothing could be further from the truth,” Enill
told journalists at a news conference following
a tour of Lake Asphalt Limited (LATT) at La Brea.
He said statements he previously made about the
gas subsidy being reviewed were misinterpreted
by the media to mean that Government intented to
remove or reduce it.
“We cannot create the circumstances by which
the people of T&T will be suffering as a result
of government policy. That is not the intent,” the
minister said.
He pointed out that at the same time, resources
are limited.
He said the philosophy that will
drive all Government’s
decisions will be the way in which those resources
can be targeted to benefit the majority of people.
Enill who sat with LATT’s CEO Wayne Woods
for the press briefing, explained, “In T&T
we are paying a higher price for petroleum products
because we import the product in order to refine
it for the sector.
“In a high-priced environment,
the government expenditure is also increasing
at the same level
as the rest of the world because the Government
as a business is buying goods and services at the
same price as everybody else is buying it.
“So if you have global inflation
in prices, as indeed we are having, the Government
is also
paying more for its services.”
He noted that the Government was working with
fixed revenue.
“Revenue increases do not equate with expenditure
increases,” he said.
In those circumstances, Enill said, “You
have to sit down and you have to determine what
is the best use of your available resources taking
into account that those in our society who cannot
afford it must be helped.”
He added, “I have said the
Government is doing a study and after the study
is completed
we will discuss with the population what the alternatives
are.”
Woods said LATT, which recorded its highest turnover
and profit in 2007, is expanding its markets in
Brazil, India and Nigeria.
He said that in 2007, LATT shipped a record volume
of 32,000 tonnes of its product to China. He said
the target for 2008 is 45,000 tonnes and approximately
55,000 tonnes in 2009.
Woods said the plant had been down since the second
week in January for $3.2 million worth of maintenance
and improvement works in anticipation of increased
market demands.
The plant is expected to resume operations at
monthend.
Story
by Yvonne Webb from The Trinidad Guardian
The
Trinidad
Guardian
Saturday
15th March, 2008
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