Government must now zero-rate electricity bills
THE EDITOR: The March 1 price hike for electricity supplied to TTEC’s industrial commercial and residential consumers will have the same unforeseen negative and domino effects across the economy as the ill-advised gas price. In fact rising inflation, tax increases, high wage settlements and rising food and household expenditures have become the DNA of PNM Administrations past and present. The proposed electricity price increase cannot be justified having regard to the current escalating inflationary pressures that are further pauperising our people living in a poverty trap amidst galloping and rising prosperity. This is a virtual 35 percent bread hike against which the people must rise up in orchestrated anger and premeditated disgust having regard to the overflowing coffers of the Exchequer. We cannot compare electricity prices in TT with the rest of the Caribbean because gas is produced locally and we have our own peculiar economic operating conditions. Government intervention is now critical to avert runaway inflation and stem further currency depreciations. The Manning Administration must zero-rate VAT on electricity bills and subsidise gas to Powergen to act as a palliative to stemming the spiral rising electricity costs. This electricity price increase is insensitive to the prevailing culture of stress and tension in the society that cannot guarantee the basic safety and security of the citizenry and the integrity of the creators and generators of wealth. The latter is on an exodus mode to safer climes. STEPHEN KANGAL Caroni
Comments
"Government must now zero-rate electricity bills"