Chamber urges divestment of State companies

President of the Trinidad and Tobago Chamber of Industry and Commerce, Christian Mouttet, has urged Government to embark on an aggressive programme of divestment of State enterprises. “The Chamber is convinced that Government must now review this strategy and engage in a more aggressive programme of divestment,” he said. “Organisations such as National Flour Mills, NBN, TSTT and First Citizens Bank, to name a few, need to be divested so that these organisations can be free to operate in a competitive environment.” Mouttet recommended that proceeds from the divestment be used to repay debt and invest in areas in which Government has a crucial role, such as improving and building the national infrastructure.

The Chamber president was speaking at a function to mark the organisation’s 125th anniversary, held at the Hilton Trinidad on Wednesday night, theme of which was “Back to the Future.” Mouttet said throughout the Chamber’s history it had lobbied for what it felt was right for the business community and, “We intend to intensify this approach on the premise that what is good for business is good for the entire country. “Profit is good for all businesses of all sizes. Profit is good for job creation,” he declared. The Chamber head said while it was accepted there was a time when Government’s active participation in the development of specific enterprises was necessary, this was no longer the case.