Under the agreement reached on Monday, the union accepted the interim award which would pay the 5% increase in the next salary payment due in February and the backpay, resulting from the agreement, at a later stage.

At a news conference at the Ministry of Labour and Small Enterprise Development as the agreement was announced on Monday, Harewood said this provision was unique and may be one of the good things to come out of the standoff. He said it gives the company a chance to defer the payments to a period when it is in a much better position to pay. He estimated the 5% increase would add $80 million a year to the company’s wage bill which he said would be covered through efficiencies in operating expenses.

According to Harewood, the company continues to look at ways of improving its overall performance and take strategic decisions required to restructure the company and determine what the “new” Petrotrin would look like.

He said the $80 million would come from operations, noting that having averted a strike the company will continue to earn foreign exchange as it continues to operate its refineries and sell refined products “so it now becomes integral to part of the business of running Petrotrin as we go forward.”

He said while the company’s overall level of operating expense was a concern it had communicated to the shareholder – the Government – through the board of directors, and the company was committed to finding ways of reducing its expenditure. “We have already started to witness a downward trend in our operating expenses and we believe that with the focus and the approach we expect, that trend will continue.”

With the interim agreement, the negotiations for the 2014- 2017 period has been referred to the Industrial. Harewood said there was no guaranteed settlement for the period at the Industrial Court but the two parties would meet at the court and through conciliation determine their final positions in time to wrap up the negotiations for the 2011-2014 period on February 28.

Responding to the OWTU’s call for his removal from the company, Harewood said it should be noted that he met with the union “toe to toe” and they were able to sign an agreement to work for the betterment of the company. He said that vilification of Chief Executive Officers is “par for the course” in trade union negotiations but it is also part of strategy and normally when the dust settles, work continues, adding that “we are not thin skinned in this business. The oil business is a tough business and we will deal with that as we go forward. We don’t hold grudges and we move forward. We do what we have to do.”

He said that the Petrotrin refinery has capacity for storage of crude oil and finished refined products and the company had a “significant supply” of refined products in its tanks from which it could continue supplying the local market as well as meeting the demands of export markets and during this period the company expected to restart the plants which were taken offline as part of its safety and precautionary measures in anticipation of the strike. He said it would take about a week to get those plants running again, pointing out that the plants were shut down deliberately and in a controlled manner and not as an emergency shutdown and so he expected that the company should be able to restart the plants, although there might be some hiccups along the way as is normal with all process plants.

As the two sides continued negotiations right up to and past the strike deadline of Monday morning, the OWTU set about building its fourteen strike camps across the oil belt with two each in Penal/ Barrackpore; Santa Flora and Forest Reserve and four each at Trinmar and at the Pointe-a-Pierre Refinery. OWTU President General Ancel Roget said the union served strike notice on the company because as far as the union was concerned there was no intention by the company or the Corporation Sole (the Minister of Finance) to settle any of the negotiations for the two periods while agreements had been reached with other workers. He said the union’s aim was not just to secure wage increases for the workers but also to clean up the company and get rid of corruption, poor administration, improve efficiency and safety. He said only when all these things are achieved will the company be able to realise its full potential. He pointed out that over the years from 2011 to 2014 and 2015 Petrotrin had contributed about $16 billion to the national coffers and as much as $60 billion in the years before that.

“So that it has the potential, but the ones who make that potential possible, they are the workers and we maintain, as we have always maintained, that if it is that the workers who would have produced and who would have kept Petrotrin whole despite the fact that it was poorly managed, despite the fact that it was plagued with corruption and still is to some extent, despite the fact that it possessed then and still does at this point, a level of political involvement and patronage and so on, all of which at the end of the day threatens its viability, the only reason why Petrotrin continues to survive is because of the workers who continue to work consistently to ensure that Petrotrin continues to afford itself of the opportunities that comes its way.”

He insisted that for all that the workers ought to be compensated and said he was happy that the union had achieved the first part of an interim settlement on their behalf and would close the negotiations for 2011-2014 by February 28.

The well-known Economics of Bacchanal, by Dr Keith Nurse states that from 1997 to 2006, Carnival visitor expenditure tripled from US$10 million to US$30 million or almost TT$200 million. Meanwhile, a paper written by George Luis Morejon says that extra-large mas bands earn, on average, between TT$ 9 million and TT$12 million, with the top five extra-large band earners taking home between $45 and $60 million each year.

To give us an idea of the potential of our own festival, Nurse quotes earnings for TT inspired Carnivals across the world. Caribana in Toronto, he says, earns CDN$200 million, London’s Nottinghill Carnival, ?93 million and New York’s Labour Day Carnival US$300 million.

However, every year, our annual festival seems to be mired in confusion, much of it related to funding. It has become a staple of the months leading up to Carnival, for some interest group or other to claim that it hasn’t received prize money, or the requisite funding to carry out its activities. The ensuing media coverage produces a rash of signed cheques from central government. Winnings are distributed. Suppliers and vendors paid. The festival can go on for another year. Rinse and repeat.

But perhaps the time has come to start asking Carnival bodies like the NCC, the NCBA, Pan Trinbago and TUCO some hard questions about their activities. If Carnival is so profitable, at least in theory, why does the taxpayer continue to subsidise the festival to the tune of hundreds of millions every year? And in the country’s current financial straits, can and should subsidies continue at this level? Many of these bodies are decades old. Is it unfair for the public to ask, with their experience in their respective field, hasn’t the time come for them to start generating more of their funding through their own business activity?

There is a gap between what is said about the profitability of Carnival and the reality. And somebody, be it the government, or the Carnival bodies, needs to close it.

A Joint Select Committee report into the activities of the NCC in 2011 revealed that 95 percent of the body’s funding comes from government subvention, while five percent is income earned from the NCC’s activities. That year the NCC received $124,692,840.

According to the report the allocations for that

year were as follows:

Government Subvention $123,287,840

Other Income $1,405,000

Total $ 124,692,840

Meanwhile, expenditure incurred was broken

down as follows:

Personnel Emoluments $ 3,759,540

Goods and Services $64,577,080

Minor Equipment Purchases $ 1,595,200

Current Transfers and Subsidies $ 54,761,020

Total $ 124,692,840

A further $61,754,140 was subsequently approved for additional work on the stage and the North and Grand Stands.

Perhaps the time has come to start challenging basic assumptions we have been making about Carnival and its profitability. It is clear from the above that if the NCC had to support its operations based on its earnings, Carnival as we know it, could not happen. What does this mean? Is it that audiences are not paying to go to the events? Are not willing to pay the entrance prices? Or are not interested in the events entirely? Alternatively, could the problem lie in the management and administration of the events?

What does this do to assertions that Carnival is inherently profitable?

And while it seems that little work is being done on finding the answers to these questions, more money is being asked from the public to continue.

The current face-off between Pan Trinbago and pan players was only the latest example of this dynamic at work. The pan player complained that they had not been paid their stipend since last year, Pan Trinbago promised to pay, but pan players claim they have been unable to cash cheques. Both sides expect government intervention to settle the issue.

Business Day reached out to Keith Diaz, Pan Trinbago president, to learn more about the issue and to ask why the organisation continues to need government subvention after decades of operation.

His response is instructive. According to Diaz, as the national instrument of the country, pan was entitled to government support.

“The national instrument is accepted worldwide,” said Diaz, “The State has to understand it needs to contribute to the development of the instrument. Any other foreign country would have seen the virtue of this.”

He said the organisation had not been receiving government subvention since the early years of the People’s Partnership government and has been functioning on funds earned from Panorama.

He also said that Pan Trinbago had relatively limited opportunities to earn money on its own, but was working on business plans and had started putting things in place.

However, attempts to probe further into these activities and why Pan Trinbago continues to function unprofitably was met with hostility from Diaz, who threatened to end the interview, if it continued in that vein.

The Pan Trinbago president insisted throughout the interview, that government should remain one of the primary drivers of the instrument’s development

Trinidad and Tobago now stands at a critical juncture where the culture and economy must be transformed in order to survive in what has been described as the “new normal”. Since the collapse of oil and gas prices in 2014, TT has lost approximately $20 billion in annual revenue. The recovery process will require building a significantly stronger export-oriented capacity and harnessing the potential of non-traditional sectors. It will also require major re-think of our policies as we go forward.

Achieving this will involve a frank analysis of the challenges that confront us and a common determination of strategies that will be beneficial to the country, irrespective of political leanings, ethnic considerations and social strata.

Over the past six years Government has made some strides towards boosting commercial opportunities for TT’s exporters in the Latin American market. Discussions and negotiations have commenced with several Latin American territories for partial scope agreements.

In October last year, the long-awaited trade agreement with Panama came into force, and work continues this year, with respect to finalising other similar alliances with El Salvador and Guatemala. It is expected that discussions will begin with Chile with respect to establishing a partial scope agreement with TT.

The TT Chamber has also been actively engaged in a range of activities geared to ensuring that its members are prepared to take full advantage of these and other extra-regional opportunities.

We are promoting the interests of our members in markets signed on to the Economic Partnership Agreement between the European Union and CARIFORUM, while preserving the present market advantage of our domestic manufacturers and service providers. The TT Chamber is also monitoring the anticipated separation of Great Britain from the European Union, despite the fact that this dissolution could take several years.

The International Trade Negotiations Unit (ITNU) of the TT Chamber performs an invaluable role in serving as an information-sharing conduit between the private sector and Government. The Unit plays a critical role in guiding research and activities undertaken by the TT Chamber in order to access new markets.

The exploration of new extra-regional markets and those within CARICOM is likely to unearth new trading opportunities. The ITNU is therefore looking forward to building upon previous successes with trade missions to Cuba and Panama; and within the coming weeks, we should announce the markets which TT Chamber members selected for the next trade mission planned for June 2017.

These efforts are all ongoing, and geared to taking a leading role in helping to transform our economy to a productive and sustainable one. Prevailing conditions today may well be the catalyst for this transformation, as we embrace new ways for creating sustainability.

Childhood is a unique stage in our development. The quality of food, water, affection and education that children receive can impact on their subsequent lives and their potential to become engaged and productive citizens. This time presents a unique opportunity for governments and organisations to “level the playing field” for children from poorer backgrounds through investments.

Many businesses across the Caribbean recognise this and create opportunities to benefit millions of children across the region. Most recently, The Sandals Foundation, the non-profit arm of Sandals Resorts International, announced a new collaboration with School Specialty, Inc for the Pack for a Purpose program. This partnership will further assist travellers to Sandals Resorts and Beaches Resorts, who wish to bring along much-needed supplies for local schools across the Caribbean supported by the company. The partnership comes at a crucial time following the effects Hurricane Matthew which has caused many problems regionally.

Unfortunately, childhood can be robbed from children when they become involved in child labour. Child labour is work that deprives children of their childhood, their potential and their dignity and that is harmful to their development. This includes work that is mentally, physically, socially or morally dangerous; work that is harmful to children; work that interferes with their schooling and engaging children in work who are under the minimum working age(s) set by national legislation or international standards.

Children often lack a public voice: they cannot vote or form trade unions; they cannot influence companies through the purchase of stocks and shares and attending shareholder meetings. As such, businesses have a responsibility to consider their impacts on children’s rights.

Children around the world remain vulnerable. They are still exploited. In 2012, statistics from the International Labour Organisation (ILO) say that in the Caribbean and Latin America, there are some 17,843 children in employment; 12,505 are in child labour, and 9,638 undertaking hazardous work.

Globally, it is estimated that 168 million children work as child labourers, and 85 million children are involved in hazardous work. With so many children at risk of child labour, there’s still a long way to go to eradicate it from Caribbean society.

Perhaps the most infamous cases of child labour exploitation are linked to the retail industry, in particular clothing. Retailers sourcing goods and raw materials from around the world face numerous challenges in relation to children’s rights, especially as production is often based in developing economies where there is a high risk that child labour will be involved at one or more points in the supply chain. Other sectors at risk of child labour include agriculture and the services sector, including hotel work, manufacturing and restaurants, motor vehicle repair and maintenance.

The financial services sector is also not immune to the impacts of child labour, not for its impact through the direct employment of children, but for its financing of businesses and activities that could be involved in child labour or the abuse of young workers. Financial institutions can find themselves under pressure to perform proper due diligence on potential investments. This is perhaps an effect of globalisation, where supply chains lengthen and control and oversight lessen.

Finance directors and their accounting teams need to be aware of this important issue because it is of direct relevance to them. It has repercussions for corporate risk, corporate governance and corporate reporting. Demands for audit, measurement and transparency will only increase when it comes to child rights.

The boardroom is instrumental in defining a company’s policy and its direction. Board members need to be mindful that implementing policies on children’s rights can bring many advantages, especially at a time when leading companies are looking to enhance their business models by integrating long-term planning into their core business strategy. It is fundamental for company boards to look deep into their supply chains and implement immediate solutions where rights are violated.

Even where companies have in place policies and procedures designed to minimise the risk of being involved in child labour, cases can and do still arise. Legal action, negative media coverage, reputational damage, loss of business and reduced investor support are just some of the consequences.

Businesses have increasing opportunities to work with NGOs and charitable organisations, and to join forces with other corporate entities in sector-wide initiatives. The accounting profession needs to be aware and be prepared, especially as globalisation extends supply chains and operations across borders. This expansion increases risks of a business’s association with potential violations of children’s rights.

Protecting children’s rights is fundamental to good business. The reality is that if business and finance leaders fail to take account of children’s rights, they run ethical, reputational and legal risks that affect the bottom line.

Social media can no longer be termed ‘New Media’ – rather, it has quickly become ‘The Media,’ quickly eroding the efficacy of ‘Traditional Media’, so much so, that on a number of occasions, the traditional print and electronic media utilises feeds and stories first ‘reported’ upon by the new media channels including, Facebook, Twitter, and the many others. According to the ‘twiplomacy study of 2016’, Twitter has become the number one channel of choice for governments and foreign ministries, based on the number of governments on the platform. In most instances, many of these governments utilise the tool to engage in quick, but managed interactions, citing that the audience reach is wider and more diverse. While some may be slow in adopting this platform as a form of genuine foreign affairs interaction, my point is based on the significantly increased influence social media tends to have on opinions, views, and now, diplomacy.

Media contributors are viewed as opinion shapers. As such, the influence of the opinions offered is usually reflected in some element of society. In recent time, we have seen the political class begin to understand and appreciate the impact of social media. This can be underscored by the very effective use of this platform during the 2008 US Presidential elections continuing to this date, with many other world leaders adopting the network to share measured feedback with their ‘followers’. We are seeing the use of social media, particularly the twitter platform, for more than outreach and support bolstering, to now actually being used as a tool engaging in diplomatic [ or undiplomatic] engagement.

In one my earlier contributions, I spoke about the changing framework of diplomacy, particularly from the perspective of the changing tone of politics. However, since the publishing of that piece, the use of twitter, has become almost a weapon of communication, inciting quite a number of diplomatic actions, statements and reactions to statements – all of which would not normally have transpired within the public domain without first being sanitised and passed through ‘normal’ channels.

President-elect of the United States, Donald J Trump, has indeed mastered the art of utilising the Twitter platform to make clear his intentions, responses, feelings and thoughts, with many of his ‘tweets’ clearly identifying his positions on matters within a foreign affairs framework, for example, his recent ‘tweet’ on January 7, “Having a good relationship with Russia is a good thing, not a bad thing. Only “stupid” people, or fools, would think that it is bad! We…..” This tweet clearly speaks to matters of a foreign affairs policy-based nature, and not simply information sharing.

Another tweet on January 2, states, “North Korea just stated that it is in the final stages of developing a nuclear weapon capable of reaching parts of the US It won’t happen!” Another heavily defense policy-based statement which can be viewed from the perspective of demonstrating strength and patriotism, to reckless abandon. The question remains: is this correct? In some instances, as mentioned, other world leaders have responded to a few of the tweets that may have been directed to them or their countries. A few leaders have responded via twitter and others using the more standard forms of public address which essentially legitimises the communication loop with the simple formula of message, sender, receiver and feedback.

Interrogating the content of the messages from one Head of State to another, is an entirely separate issue, as the language of diplomacy can be seen to be changing before our very eyes. However, the traditional forms of diplomacy have also changed quite dramatically, and one wonders on the impact of this change on the development and strengthening of global relationships, particularly, as Twitter only affords 120 characters. Could a diplomatic bridge, built over many years of careful negotiation, State visits, shared partnerships, joint ventures, United Nations based agreements, be undone by 120 characters on twitter? We are certainly about to find out.

Care has to be taken about Haldine’s comments concerning economists failing to predict the global financial crisis and the housing bubble. Perhaps he was referring to economists in the Bank of England, but certainly this is not reflected in reality. There were at least six rather famous economists who, despite being ridiculed by their peers and others, highlighted the high possibility of a global financial crisis. These economists are Nouriel Roubini (New York University professor), Ann Pettifor, (British economist and Director of Policy Research in Macroeconomics), Steve Keen (Head of the School of Economics, History and Politics, Kingston University), Dean Baker (Co-director of the Centre for Economic and Policy Research) and Raghuram Rajan who, at the time he warned that credit-default swaps and mortgage-backed securities made the global financial system a riskier place, was an economic counsellor at the International Monetary Fund in 2005 and later became Governor of the Bank of India. The last economist is Peter Schiff, (CEO and Chief Policy Strategist at Euro Pacific Capital).

Haldine was also was very critical of the economic models used in forecasting, stating that economic models had been “rather narrow and rather fragile” and worked “fine as long as the going was good”. However, when the globe was “tipped upside down” by the 2008- 09 crisis, these models just did not hack it.

Economic forecasts are after all an economic opinion, a judgement based on analysis. This analysis has to be based on sound models and good timely data. This comment on economic forecast requires closer inspection. There is some validity in the quality of economic models that are used for forecasting but they are very heavily influenced by past events. Nobel Prize winner Paul Krugman has blamed developments in macroeconomic modelling over the last 30 years, and particularly the use of dynamic stochastic general equilibrium (DSGE) models, for this failure. While not attempting to get technical, economic model building requires far more research if these models are to prove useful in pointing to difficulties in the financial landscape.

One common theme among most financial experts is the need for timely and good data. Here the work on the re-engineering of the Central Statistical Office (CSO) in Trinidad and Tobago is critical to ensure the institution can deliver data sets relevant to an evolving economy in a timely manner. It would seem the work by the Task Force is taking long, but while we clearly need faster delivery, it must not come at the expense of quality.

In that regard, the next financial crisis for us may come from unexpected places, perhaps even defaults on motor vehicle loans. Here available data has to come from the Central Bank as well as the CSO. Of course, one only wonders about the stress testing and model building that take place in our institutions. Let us join the debate that is taking place internationally and question our institutions to determine if they can forecast or at least be ready for the next crisis.

The first paradox is the issue of increasing wages but without conversation about a corresponding increase in productivity.

Secondly, there is the paradox of increasing the budget for national defense, to the point where it is allocated the largest share of the national budget, but without the expected fall in the levels of crime. In the 2017 list of countries with the highest levels of crime globally, compiled by the Gazette Review, use was made of the following factors – United Nations Office on Drugs and Crime statistical reports, national crime index reports, reports on national corruption, and reports of non-government paramilitary actions to determine each country’s rank. Trinidad and Tobago was ranked seventh in the world, a top ten finish.

The third paradox on our list is the emphasis on educating the population but with a lack of opportunities for educated persons. In fact, there appears to be increased underemployment pervading the society; a review of the returning scholars program is a case in point.

A fourth paradox is that we are increasing national debt at a time of falling GDP, but we have falling investment. The increased debt is to fund government’s recurrent expenditure – not productive activity.

Paradox number five is the fact that, over the last few decades, we have seen an increase in the food import bill which implies a lack of food security. We tout the need for increased agricultural production and participation yet there is expansion of the conversion of agricultural land to housing and commercial space. To address this particular paradox, we should focus on incentivising agricultural production itself and move away from focusing on meagre subventions to drive food security. Clearly the agricultural sector is in desperate need of re-engineering and should be dealt with in a cohesive manner in order to move toward food security and self-sufficiency.

The sixth paradox can be seen whereby we have higher government expenditure but without a medium or long term economic framework. This situation leaves a lot to be desired and this may reflect in part the lack of effective targeted expenditure.

A seventh paradox is reflected in the years of high government expenditure, especially on transfers and subsidies, unemployment relief and other public assistant programs, which come with the suggestion that there are higher levels of inequality and increased poverty. This means that the pattern of government expenditure may be great politics, but fails to address poverty and inequality. The paradox here is the advocacy for citizens to be less dependent on government while simultaneously creating government programs that result in heavier dependence on the government. Some examples include mortgages with significantly lower interest rates for those who fall within a particular income bracket, HDC housing for people working for under TT$25,000 per month and certain government guarantees that seek to reduce the risks associated with investment. Interestingly, these apparent benefits may even serve as perverse incentives to remain dependent on the government.

For the eight paradox, we look at the increased expenditure on sport with millions provided to a sport company, yet we struggle to win more than one medal in the Olympics. Mediocrity is the norm; no value for money.

Number nine, the paradox of punishing the consumer for purchasing online, but expressing no problem with the huge mark ups that the retail sector imposes on a hapless public, who have little resort given the new tax on online shopping.

The tenth paradox is represented by the strong statements about the need for economic diversification and building the non-energy sector, but, as stated clearly in the budget, the hope for return to growth is based on the rebound of oil prices.

Peter Drucker said that “Nothing is less productive than to make more efficient what should not be done at all”. Concentration on hydrocarbons and heavy dependence here, without investment in alternative energy is a case in point.

An interesting paradox at number eleven is the approval of franchises like Starbucks, DQ, Wendy’s, KFC etc., but complaining about the problem with obesity and the cost to the health sector of the attendant diseases that arise.

A very long paradox at number twelve is the low interest rates coupled with increasing service fees charged by banks to keep our money, which is a disincentive for saving at a time when the country needs desperately to mobilize savings for investment, especially in the non-energy sector where foreign direct invest has very little interest.

The thirteenth paradox is a stagnant population, apparently stuck at 1.3 million people for the last few years according to the CSO, but with an ever-increasing demand for housing, despite having one of the highest owner-occupied dwellings in the world, and an ever-increasing need for schools.

The fourteenth paradox of our time in Trinidad and Tobago is the pressure on our foreign exchange which contrasts with the lack of incentives to stimulate intermediate production as well as purchase of intermediate and final output from local producers. Perhaps we can alleviate pressures on foreign exchange if there were local alternatives. Clear policy objectives are needed.

These are but a few of the paradoxes that we see in our economic space. They come with cost as well as negative consequences which need to be addressed as part of our effort to re-engineer our economy.

Welcoming the settlement, he said a strike would have cost Petrotrin all its exports – amounting to 75 percent of its earnings – and a net loss of $500 million, and with an even worse effect of TT’s wider economy. Rowley said backpay for 2011 to 2014 will be paid when targets are met of improved productivity, more oil production and Petrotrin’s return to productivity, these benchmarks to be negotiated by the end of February.

Describing Petrotrin as “a ward of the Treasury”, he lamented that the firm has a $13.2 billion debt, including $1.2 billion owed to the Government. The company is also burdened by a high debt service charge as a main cause of its weak financial state. Recalling Moody’s downgrade of Petrotrin, Rowley said Standard and Poor’s is considering downgrading Petrotrin pending any drop in its support from the Government from “very high” to “high”.

He said, “This is not solely a Petrotrin problem, it is also a situation which is ever present in all discussions of the national borrowings and debt servicing and the downgrade could easily stretch beyond Petrotrin onto the operations of the Ministry of Finance.” However, reflecting on previous failed wage-talks, Rowley said Petrotrin’s extra wage-bill would have had to have been funded by Petrotrin borrowing as “secured by guarantees at the taxpayer base”, even as such liabilities would worse the National Debt with negative consequences.

“In the absence of Petrotrin’s ability to borrow on its own merit, the wage increases that the OWTU had asked for would have had to be financed either by Government transfers or by government-guaranteed debt,” he said. “Either option would carry serious pitfalls for the entire country.” Apart from Petrotrin, Rowley said the Government is now using its recent US$1 billion bond-issue to initiate its own consolidation plan to cut its fiscal imbalance, itself largely caused slumped energy prices.

He warned, “Providing current transfers to Petrotrin or guaranteeing Petrotrin’s long term debt would certainly jeopardize the country’s sovereign debt rating, which is up for review within the next few months.” Rowley stated the way forward – cost-cutting, consultation and capitalisation – to pay the $81 million extra in annual wage-bill and $300 million backpay.

Firstly, so as not to unduly burden the Treasury the Government has directed Petrotrin to fund the $81 million by taking “firm and immediate steps” to cut its annual operational costs, which targets he vowed to monitor.

Secondly, saying that a few weeks ago he had promised to engage the OWTU over Petrotrin’s future, he said, “We are at that stage now even as it has been precipitated by wage demand issues. In the intervening period, prior to the labour dispute, some preliminary contacts were had and the Government agreed to receive from the Union any and all of its thoughts with respect to the improvement of conditions and performance at the company.

One such response, the first, was submitted to the Government last Friday and will be given the due considerations it deserves.” Rowley said Cabinet’s Energy Sub-Committee is guiding Cabinet and such discussions are on their way to Parliament’s Standing Committee on Energy. This also includes the Gas Master Plan, he added.

Rowley said a Sub-Committee report on Petrotrin is now heading to Cabinet for consideration. “You the taxpayers, you the shareholders cannot continue to turn a blind eye or be uninterested in the challenges at Petrotrin, a company which is so central to our fortunes and which poses such threats as described.

The current situation cannot be left to limp along unattended.” Thirdly, Rowley said these are times of great opportunities, even as he said Petrotrin needs investment capital to boost its onshore and offshore gas and oil production (even as most past monies gone to refinery operations). “Because of financial constraints at both the level of the state and the company, rectifying this imbalance now can only be effected by imports of external and domestic capital as well as new technology into oil and gas production at Petrotrin.” Petrotrin’s survival depends on such, he said.

“In this approach there will be opportunities for local equity investment and employee stock ownership in a future profitably restructured company. “The question is, are we up to the task of grasping these exciting possibilities or will we be stuck in the past of failed confrontations and finger pointing.

Time is not on our side. We must act with decisiveness and clarity if we are to give ourselves the best chance to succeed.” Saying the Government’s duty is to do right for all the people of our nation, he said we must face up to our realities, starting at Petrotrin including possible restructuring.

“Even if we have other ideas, the pressing challenges surrounding this major state enterprise demand immediate action whether it is strengthened management, improved accountability, restructuring of its shape and business model, geared towards increased production, better productivity and sustained profitability.” Appealing for reason and maturity, he said bitter medicine can take TT to a place of good economic health, peace and social justice.

Rowley vowed, “Let me end by reaffirming my commitment that this Government will do all that has to be done to keep our country out of the grip of the lender of last resort, the IMF (International Monetary Fund).” While glad to have averted a major disruption that would have considerably worsened TT’s situation, he said any failure to fix the Petrotrin problem and others leave us vulnerable. He cited British statesman, Winston Churchill’s, statement, “It is the end of the beginning”.

Rowley urged, “Let us make this a time of change, change for the better, with boundless faith in our destiny. Petrotrin is an integral and a major part of our destiny.

Let us resolve to do what has to be done to fix it so that when I address you again in the not too distant future the picture would be brighter and the numbers will be more comforting.”

She expected the initiative to play a key role in diversifying TT’s economy away from oil and gas dependence.

The project – touted as a centre of innovation, science and technology, and global entrepreneurship – was built for $2.2 billion by the Patrick Manning administration, but largely lapsed under the People’s Partnership government, yet is now being revived by this Government.

One client, a call-centre, has occupied part of the flagship building, but some 21 lots will soon be on the market.

The InTech website says the plots are for ventures in ICT, business process outsourcing, high value manufacturing, clean technologies, business services and agro-processing.

In an interview at a function yesterday at the Hilton Trinidad, St Ann’s, Gopee-Scoon said next month InTech and InvestTT will reveal their plans to market the project to investors. She said ICT is a tool of diversification of the TT economy, such as by business process operations (BPOs) and light manufacturing and advanced manufacturing. “The intention has always been there, the thinking was there many years ago but unfortunately under the last (People’s Partnership) government nothing was done to advance the park. Now the first phase is completed and we look forward to inviting businesses across the globe to come to TT,” said Gopee-Scoon.

“We are a place to do business and we are a Government that is stable and evidence of that is yesterday’s (Monday’s) events (the Petrotrin wage settlement). “So yes we are looking forward to increased diversification, because diversification has taken place and hence the reason we have a successful Point Lisas Industrial Estate and a successful manufacturing centre.” “It’s up and running. All the 21 lots are in fact ready. One lot is already taken, so we’ll begin to work in earnest on our marketing campaign and invite appropriate businesses into the estate hopefully from both local and international firms. We look forward to that.” Gopee-Scoon welcomed the settling of the Petrotrin wage-talks.

“I think the country had great success (on Monday) and all parties are to be congratulated. It shows what with continuing collaboration what we can achieve together as a country,” she remarked.

“So let’s pull ourselves together at the beginning of this new year and move towards transforming and creating a new TT, a new and resourceful TT. It’s an indication of a sign of the things to come with a Government that is able to hold things together, pull things together and bring parties together in the best interest of the nati

According to her lawsuit, filed by attorney Larry Lalla, Graham gave birth to her son on December 17, 2015, by natural childbirth assisted by an episiotomy at the Mt Hope Women’s Hospital. She was discharged the next day but continued to experience extreme pain and had difficulty urinating while feeling nauseated. On January 12, 2016, she went to the bathroom for what she believed to be a normal bowel movement and she pushed out an object, the size of an egg, from her birth canal. She has kept the object and intends to produce it as evidence should the case go to trial.

Graham was rushed to the Mt Hope Women’s Hospital by her common-law husband, but she was told that their care only extended to ten days after childbirth and only if she was bleeding heavily. She was told to go to the St Joseph Enhanced Health Centre, but was told there was no specialist there and since she did not deliver her child at that facility she should return to the hospital at which she gave birth.

Graham was sent back and forth between hospitals while experiencing severe pain and other complications. It was at the Eric Williams Medical Sciences Complex general hospital that she was told by a doctor who examined her that the item she ‘pushed out’ was gauze that was left inside her by hospital staff when she gave birth. Graham says she experience severe abdominal pain, vaginal discharge and discomfort, nausea, painful urination, irregular bowel movements, loss of appetite and weight, painful sexual intercourse and emotional distress.