Dookeran: PNM leading TT to economic ruin

Speaking at cottage meetings in Goodwood Park and Haleland Park last week, Dookeran said he had warned that the “PNM’s misconceived priorities are derailing the economy” and those warnings are now coming to pass.

The UNC leader said statements last week by Central Bank Governor Ewart Williams about the need for Government to boost domestic agricultural production in order to reduce rising food prices and inflationary pressures on the economy, support his position.

“From day one, when the Government’s spending priorities became clear, I have been advocating restraint and a focus on food production and on many occasions warned that we would face the problems that have now emerged,” he declared.

Dookeran added that while things look good on the surface with “economic growth expanding and money is flowing,” financial indicators alone do not reflect good economic fundamentals.

The UNC leader asserted that rising food prices and crime alone show that “the fundamentals are completely off target.”

Dookeran explained that this was why he tabled a proposal in Parliament in 2003 for the establishment of a social compact to gain consensus between Government, the business community, labour movement and civil society on national expenditure priorities.

He also said that such a social compact would have addressed concerns articulated by Williams about inflation which could be caused by wage pressures.