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Chamber president tells Govt: Close downnon-performing state companies

Sunday, March 19, 2017
Robert Trestrail

T&T Chamber of Industry and Commerce president Robert Trestrail is supporting Government’s move to close  non-performing state enterprises.

His comments followed Prime Minister Dr Keith Rowley’s announcement at last Thursday’s post Cabinet briefing that state enterprises which  are  not performing will be closed.  

 Speaking following a Habitat for Humanity handing over ceremony of  a house to a family in La Romaine yesterday, Trestrail said: “The country is going through difficult times and it is incumbent on the Government to assess the number of state  enterprises that we do have to ensure those which are productive remain productive and more importantly those which are not productive, we need to either make them accountable and productive, or we need close them.”

Commenting on Government’s second draw down from the Heritage and Stabilisation Fund (HSF), Trestrail said it was to take measures to boost productivity.

 “The Government had indicated that they would be drawing down the fund. We have a $16 billion-odd deficit.

“They had indicated that in the mid-budget and even back in September last year, so I guess it was sort of expected.

“The Government had a programme to draw down on the fund. Obviously they are executing that programme.”

The Chamber president, added, however that Government should ensure they get a good return on the investments.

On Friday, the Ministry of Finance announced that the money taken from the HSF will be used particularly for the Public Sector Investment Programme. 

The Government made its first draw down from the HSF in May last year.