Panday, Yetming differ on Unit Trust

OPPOSITION LEADER Basdeo Panday and former finance minister Gerald Yetming yesterday differed over what was the true state of affairs at the Unit Trust Corporation of Trinidad and Tobago. On Tuesday, Justice Allan Mendonca issued a gag order preventing the media from reporting on any decision of the High Court concerning a lawsuit filed last December by former UTC executive manager (marketing operations and information systems) Renrick Nickie against the company.

Speaking to Newsday during the tea break in the Senate on Tuesday, Junior Finance Minister Conrad Enill (under whose portfolio the UTC falls), said he had not spoken recently with UTC chairman Ainsworth Harewood and could not say what was the exact situation at the company. However, Enill said the UTC was a strong organisation and its future would not be affected by any court decision. Panday declined comment on the gag order, saying that Mendonca made a decision in “his best judgment” and those who questioned that decision could exercise certain legal options. However, Panday said the UNC has long held the view that the current situation at the UTC is an attempt by the ruling PNM to control the company’s financial assets to further their own political agenda.

The former prime minister said former UTC executive director Clarry Benn would confirm that at no time during the UNC’s six years in government was he or any other UTC executive member victimised. Attempts to contact Benn were unsuccessful. In contrast, Yetming refused to speculate about what was really happening at the UTC. He said the important issue here is what the Government intend to do with the UTC. “We will have to wait and see,” the former finance minister said. Regarding the court gag order on the media, Yetming said questions on that issue should be directed towards legal and media practitioners.