Ramdial: Investors in limbo

Ramdial asked this of officials from the Chaguaramas Development Authority (CDA) and the Planning Ministry during a public hearing held by the Local Authorities, Service Commissions and Statutory Authorities Joint Select Committee (JSC) at Tower D of the Port-of-Spain International Waterfront Centre.

In response, CDA member Robert Cezair said the Authority is aware of an estimated $2 billion in investment made by investors on the projects which she mentioned.

However, “We must bear in mind, it is a legal matter.” The Ministry of the Attorney General and Legal Affairs is examining the leases on these projects.

Ramdial expressed concern that billions in investment could be lost, if the second legal opinion being sought, says the leases of the investors are illegal. Speaking later with reporters, she said, “These projects should get the green light to go ahead.” She indicated that the former CDA board said the leases were not illegal and this is causing, “disenchantment with lease holders for these mega projects.” Saying these investors, “Don’t know where they stand”, Ramdial said none of these projects are harmful to the environment or are in breach of the CDA’s 1974 development plan. She said that a hotel, eco park and water park are among projects earmarked for Chaguaramas. Ramdial said steps should be taken to, “keep these investors in rather than running them away.” During the hearing, acting CDA general manager Deowattee Dilraj-Batoosingh said there are tenants in Chaguaramas that are not paying the rent they are supposed to. There are others who always dispute the quantum of rent they are supposed to pay.

Cezair disclosed that some tenants have constructed jetties and encouraged boats to berth there for a fee.

He said the CDA has revisited a 1994 Cabinet note which would allow the Commissioner of State Lands to collect revenue from these people. Dilraj-Battoosingh also told JSC members that the authority incurred a $110 million debt under its previous board.

She said part of that debt is Public Sector Investment Programme (PSIP) debt and the Authority is communicating with the Finance Ministry on this. She said the CDA has to generate the revenue to pay off the remainder of the debt.

Dilraj-Battoosingh also said, “We (CDA) are running a deficit and have been running a deficit for the past four years.” She said the CDA has been conversing with service providers and has been undertaking part payments on some of its bills. Asked by JSC chairman Hugh Russell Ian Roach about the allocation the CDA receives in the national budget, Dilraj-Battoosingh said the Authority receives $7,750,000 for development projects.

Dilraj-Battoosingh also said payment of salaries exceeds the revenue the CDA earns.”We struggle to pay salaries every month,” she stated. Acting CDA human resources manager Susan Russell-Edwards told JSC members that within the Authority’s 463 employees, there are 179 monthly paid and 14 temporary employees. Russell-Edwards said in order to reduce the overtime bill, the temporary workers operate on shift basis on weekends.

She also said the Finance Ministry allocated a sum of $10 million to assist with pension payments.

Dilraj-Battoosingh said there was no pension plan in place prior to the new CDA board taking office.

However she said a plan was established last year.