Roget says Imbert setting Petrotrin up for privatisation

However, in a telephone interview yesterday, Roget countered that Government had owed Petrotrin some seven billion dollars in subsidies and that Imbert may be attempting to justify the privatisation of the company.

“I am not too sure why the minister is making that point now because all of the stakeholders are aware that Petrotrin owes the government money in terms of taxes, but I wish to remind the minister that not too long ago, as recent as 2010-2011, Petrotrin was owed some seven billion dollars in subsidies from the government,” Roget said.

“And while Petrotrin was being owed that seven billion dollars in subsidies, Petrotrin had to go on short-term borrowing which caused them to have to pay high interest rates which contributed to some of the financial woes being experiencing today,” he said, adding, “The minister needs to say what was the total subsidy owed to Petrotrin by the government.

“He is perhaps trying to lay the ground work for the justification for privatisation of Petrotrin.” Roget vowed to fight relentlessly to ensure that Petrotrin remains in the hands of the ordinary taxpayers.

“If you privatise Petrotrin, the private interests and the new owners, they will smile all the way to the bank.” Roget said Petrotrin had contributed over $69 billion dollars to the State over the past few years and pointed out that Petrotrin had to be managed properly as there was a need to have “proper leadership at the managerial level, at the board level and at the level of the ministry.”