No offer made to OWTU

nor the board of Petrotrin was authorised to make any such offer.” He added, “That would include any offer of zero going forward.” Young said Finance Minister Colm Imbert has advised the Cabinet that Petrotrin and the OWTU have matters currently before the Industrial Court over a breakdown in negotiations between 2011 to 2014 and part of 2015.

“We understand that the Industrial Court is supposed to give its decision early in 2017.” After indicating that Government will await the conclusion of these matters and abide by the Court’s decision, Young said it made no sense for Petrotrin to begin any new wage negotiations with the OWTU until these matters are resolved because, “ you not able to place a dollar value on it.” Indicating that Government has Petrotrin, “under a microscope,” Young said Imbert has also advised Cabinet the company has certain financial arrangements that will become due in 2018 which could run into to billions. He said some of those arrangements involve bonds and Government will work with stakeholders to ensure that the rest of TT is not placed in financial circumstances that are deterimental to them, “based on small subsets and groups.” Young also said Imbert chairs a Cabinet sub committee which deals with various terms and conditions that can be offered to State entities and statutory bodies in the country, “including Petrotrin.”