It’s just scandalous

I called in to point out that I feel the same way you feel and that as prime minister, I’ve set about doing something about it.” He recalled his government’s colloquium at the Hyatt Hotel, Portof- Spain a few months ago, at which the riot act was read to all heads of State agencies, on a lack of timely financial statements for submission. “We gave them a deadline.” Rowley said he instructed Minister of Finance Colm Imbert to mandate in writing that all State enterprises submit their financials by March 31, regardless of the documents’ condition. “Nearly all have complied in submitting financial statements.” He said the Ministry will go through all reports and any non-compliance will incur serious consequences.

“We’ve been paying people handsomely to manage agencies, they’ve been spending taxpayers money but even when the law requires them to report to the Parliament they would not do that.” Some disregarded their duty to report to the Ministry of Finance, Rowley added.

“We intend to draw the line. And what you’re seeing in the Auditor General’s Report is a synopsis of the situation.” Asked about TSTT’s $255 million purchase of Massy Communications, he said much misunderstanding exists in the public domain.

“It is not correct to say Cabinet was not informed. TSTT is a very strange company in that it is not wholly State-owned. The State owns 51 percent and an international company owns 49 percent.” He said TSTT faced a serious threat from external and internal forces and so detailed its budget and future plans to Cabinet. Rowley related that in one case, Cabinet advised TSTT to consider using the Corporation Act to make its case.

“TSTT’s Strategic Plan has been approved by Cabinet. What is not expected to happen is that TSTT will be micro- managed.” He said the buying of Massy Communications was not unusual in the corporate sector, adding “It is not correct to say it is wrongdoing.” Asked why TSTT did not tell Cabinet about buying Massy, he replied, “The Strategic Plan that we approved pretty much covered that kind of action.” He said Massy is listed on the TT Stock Exchange so any wrongdoing would cause all in the firm to have to account to the Securities Exchange Commission (SE C), but that is not happening.

“So this is somebody looking for a story when one doesn’t exist.

Cabinet is not complaining.”