Imbert: We will not renege

Imbert said the PP agreed to an increased financial contribution to the CDB by way of a Cabinet note dated February 26, 2015.

After advising new parliamentarians to, “Familarise themselves” with matters which occurred in the past when their party was in office, Imbert declared, “This government does not renege on agreements made with international bodies unlike other governments before us.” He explained this was important for the “Credibility and integrity” of TT. Imbert said Government is looking at scheduling payment of this contribution over a four-year period. Government MPs thumped their desks as Imbert reiterated, “We intend to abide by the decision of the former UNC (United National Congress) government to make this contribution to the CDB, as difficult as it may be because we are responsible.” Referring to a Trinidad Express newspaper article which said unnamed sources alleged that bpTT made energy discoveries in two of its fields, Imbert said premature statements on such matters were inappropriate because they can affect the share price of the company. He noted that bpTT’s parent company BP is listed on the international stock exchange.

After indicating bpTT will make a formal statement on this matter soon, Imbert disclosed that consultations have been ongoing with energy sector stakeholders about possible changes to this country’s oil and gas fiscal regime. He said that by Friday, he should receive feedback from a high-powered team handling these consultations about what modifications could be made to the regime.