Support for ADB to become commercial bank

He is calling on the Minister of Agriculture to immediately begin talks with the Minister of Finance and other relevant stakeholders to start the process to make the idea a reality as quickly as possible.

In a statement Maharaj who is also political leader of the National Solidarity Assembly said “There is no doubt that innovative ways must be found to stimulate the agriculture sector in order to assist in the diversification of the economy and allow this sector to be the foundation upon which the diversification stands. This is especially in light of the fact that Trinidad and Tobago imports billions of dollars of food every year.” He added that converting the ADB into a commercial bank will allow for a more enabling agricultural environment with the ADB operating on the basis of profit making but with a flexibility based social conscience and understanding of the unique circumstances in which the country’s agriculturists sometimes have to undergo such as natural disasters and surplus of reduced produce. He said Ali’s suggestion should be considered by those in authority and subjected to a proper logistical study after which the necessary legislative reforms could be drafted.

Maharaj said if these laws are properly implemented they can help stimulate economic growth ensure food security create employment make agriculture attractive to the young and ease the financial constraints facing the country.

He said the idea will allow people engaged in the agricultural sector to escape the trappings of sometimes unimaginable bank charges and procedures that sometimes make financial assistance to those engaged in agriculture almost impossible especially when farmers are on tenanted lands State lands or Caroni VSE P lands.