ECA concerned about increased wage bill ‘burden’ on Petrotrin

The ECA yesterday said because the agreement arrived at on Monday (January 9) is an interim one, “there will be on-going negotiations to arrive at a final settlement for the two negotiation periods in question (2011 - 2014 and 2014 - 2017).”

“While the proposal for funding this increase by reducing waste and improving efficiencies is a welcomed initiative, these benefits will not be immediately realised based on Petrotrin President, Fitzroy Harewood’s admission that the company continues to take ‘the strategic decisions to restructure’.”

“There is therefore an immediate need,” the ECA continued, “to fund the next payroll, which will reflect this five percent (wage) increase at the cost of approximately TT $80 million dollars...Where will this money be sourced?”

The ECA said it would continue to monitor these developments and that it remains “optimistic for a speedy resolution” as negotiations continue between Petrotrin and the OWTU.

“We encourage good sense to prevail in the national interest as we collectively endeavour to overcome our current challenges and achieve a better quality of life for all,” the ECA stated.