Monday’s madness can hurt TT several times over

"These are the times that try men’s soul": Thomas Paine, The American Crisis.

Monday’s callous setting off of an explosive device in downtown Port-of-Spain has the potential to provoke social and economic harm downstream, in addition to the physical hurt it has already caused.

For while the cowardly, senseless act which has resulted in immense shock and physical suffering to several innocent men, women and children and possible psychological damage to scores more, it may have as a short term effect a loss of confidence in the country by small to medium domestic investors.

In turn, the negative focus on Trinidad and Tobago created by Monday’s "bomb" blast may see a hesitancy on the part of foreign and regional capital as well, interested in establishing or investing in small and medium industries.

And particularly those with an export potential to Caribbean and Latin American countries.

This will mean a loss of potential foreign exchange earnings, Government revenues, including Customs and Excise duties and corporation and personal income taxes, and a blunting of the thrust to reduce unemployment levels yet further.

Those responsible must be ferreted out, charged, taken to Court and if found guilty severely punished. The sentences imposed should be such as to discourage others from similar acts. In turn, the justice system, including all of the law enforcement agencies must move swiftly and any punishment served, imposed while Monday’s horrific events are still fresh in the minds of citizens. There should be the message conveyed that this week’s tale of horror would not be tolerated. The message will have greater impact if justice is swift.

International and even regional focus has been greater on Trinidad and Tobago and this week’s events because of the country’s substantial proven reserves of crude and natural gas. And, of course, Trinidad and Tobago’s critical importance to the energy security of the United States as a supplier of crude and some 75 percent of that country’s supply of liquefied natural gas. There are major American, British and Spanish investments in TT’s energy sector.

But the concern is not simply with the foreign investment input. Indeed, there is a not insubstantial level of domestic investment that must be protected against the reckless behaviour of individuals who would, whether unthinkingly or not, hinder our social and economic growth.

Another ingredient which we need to factor into the equation is that of the savings of tens of thousands of persons throughout the Caribbean Community of Nations, including Trinidad and Tobago, whose investments will be under threat if this week’s act of terrorism is not seen to be contained and rapidly.

But let us move from the economic to the social, to the many young people who may be side tracked from their pursuit of meaningful educational goals, the development of skills and the need to remain committed to ascending the ladder of achievement. We must also look at the negative impact on employment levels and employment growth.

Trinidad and Tobago at this point in world history, what with globalisation, the restrictive rules and regulations of the World Trade Organisation (WTO) and the WTO’s victory in its campaign against preferential entry vis a vis the Convention of Lome can not afford the questionable "luxury" of Monday’s madness.

We must begin by resisting any temptation to view the July 11, 2005 assault on our country’s right to live in peace and right of upward mobility for its people as an act of aberration, not to be taken too seriously, particularly in the age of copy cats. If there is one crucially needed message that we can and must send is that Monday’s cruel attack on our way of life and social and economic foundations and growth, is unacceptable.