In short, the Government is seen as being incompetent; it appears to have no plan to take us out of the current recession.

Some are even saying the Government is awaiting the entry of the International Monetary Fund (IMF) to tell it what to do, if the IMF has not done so already.

All of the above are complaints about the Government’s reactions to a series of conditions over which we have absolutely no short-term control.

Our economy is a small open plantation economy that depends for its very survival on the earnings of foreign exchange to fund the imports, products and services which we are incapable of producing for ourselves and which form the foundation of the onshore economic activity — an import, markup and sell distribution economy.

When the earnings of foreign exchange drop, as now because of low gas and oil prices and exacerbated by the decreasing production of both, we cannot produce new exports in the short term, ie, we cannot earn new foreign exchange, nor can we replace substantially imports by local production.

Hence the only option we have, the Government has, is to contract the economy; by Government actions which reduce aggregate demand in the country, while the onshore economy itself, as also the offshore sector, sheds the load of employed and unused resources.

This will hurt.

So this economic contraction rate can at best be moderated by continued government spending; the reduction of our reserves, use of the savings in the HSF, foreign and local borrowing, and sale of assets since Government’s income is also severely reduced.

These actions do not solve the problem that caused the recession; they simply ease us into the full impact of the recession — unemployment, reduction in GDP (reduced economic activity), reduction in ability to import, reduction in Government’s ability to maintain subsidies.

Still, our reserves stand at some ten months of imports (compare with Barbados with just weeks of import cover) and our debt/GDP ratio, although increasing, is not life-threatening.

Our exchange rate has been marginally devalued but it is not under tremendous pressure.

There is no shortterm remedy to counteract the recession though some get satisfaction by blaming the Government for having no plan to get us back to the good times (the Opposition is having a field day); criticism is being levelled at our inability, like Suriname, to get out of the recession while others in the region are growing.

What is being ignored is that the recession in both TT and Suriname is as a result of low petroleum prices, while such low prices for the others, energy-importing countries, are a boon. Further, the tourism trade is picking up.

The only short-term remedy which is outside of our control is for the gas and oil prices to increase globally and the local increase in production of both — the latter, if it happens, would be a medium-term occurrence.

The long-term solution is economic diversification which will have no economic impact for some ten years.

Blame could indeed be put on past regimes, particularly on our private sector, since little effective attempts were made in the years gone by to diversify. Be that as it may, today we need to grin and bear it, hoping that the Trini God intervenes in oil and gas pricing and we find more petroleum.

Mary K King St Augustin

I observed many shocked reactions from other women and overheard a little girl asking her mother, “Did you see what that woman was wearing?”

What sort of reaction does one expect if dressed in public in this manner? Is this what is called female empowerment? That we can dress as we want, and behave as we want, with no consequences? If most females who saw her were shocked and embarrassed, I wonder how we expect the males to respond?

Tonia Gooding via email

The newspaper was reliably informed that the St Lucian government is looking at Saturday to pay final respects to Walcott.

The poet and playwright died on last Friday, sending the country and region into mourning.

The St Lucian cabinet held a meeting yesterday to discuss the funeral arrangements and final resting place. The Government is working closely with the Walcott family and all plans are expected to be finalised today, Newsday was told.

Walcott received the Nobel Prize for Literature in 1992. He was 87.

This call was previously made in a “First Report” of the Public Accounts Enterprises Committee (PAEC) and was acted upon in the Energy Ministry’s “Ministerial Response” document relating to the National Quarries Company Ltd (NQCL) last Friday.

The PAEC report had hit illegal quarrying.

It said: “With such vast acreage it became easy for persons outside of the company to have access to various parts of the quarry during the night when there is little surveillance. It became increasingly difficult for NQCL to effectively guard the entire expanse of land.

The Defence Force has been used in the NQCL’s attempt to curb illegal quarrying and further land degradation.

“Through efforts by the Defence Force, a plan should be developed and implemented to ensure welltrained personnel can be stationed at specific points throughout the quarry to deter perpetrators and regain control over the company’s resources.” The ministry confirmed, “NQCL has negotiated a memorandum of understanding with the Trinidad and Tobago Defence Force to ensure the continuous presence of trained military personnel at the company’s Turure Quarry.”

Instead, Rambharat described the decision as “the responsible thing to do”, given that company’s broken business model and poor performance over the last three years.

Rambharat defended Government’s decision to shutter the company saying Caroni Green Limited – a reboot of the failed Caroni Green Initiative which was created by the People’s Partnership administration in 2013 — to rent and cultivate former Caroni Lands — was like its predecessor, a financial disaster from day one.

For the 2015 financial year, Caroni Green Limited reported revenues of just $700,000. That same year, administrative expenses including salaries cost taxpayers $6.7 million.

While the Company’s recent report of increased revenues is yet to be verified, by its own admission, administrative expenses for 2016 increased to $8.5 million.

Salaries alone ballooned to $7 million, yet Caroni Green is still without trained technical staff it needs to pursue its objectives as a national agricultural company. Since 2015, a year after an Ernst & Young audit uncovered mounting losses amid management and procurement issues at the original Caroni Green Initiative, its successor CGL has produced pepper — and to a lesser extent pawpaw and plantain — on 50 acres of former Caroni (1975) Limited lands.

Soaring overheads, particularly at its head office, have made CGL uncompetitive. While domestic farmers produce hot peppers at a much lower cost per pound, Caroni Green has struggled, despite hefty subventions, to grow revenues to cover its costs.

“The need to focus more on farmers and fisherfolk and reduce unacceptable administrative costs is enough to justify wide-ranging restructuring of underperforming State Enterprises in the agriculture sector”, Rambharat said.

“In cases like Caroni Green, the most prudent thing to do is to close the Company and use that money to help independent farmers.

This is line with what we said we would do and we will do it within the Law and in line with proper industrial relations,” Rambharat said.

CGL CEO Sharma Lalla has called on Government to reconsider its decision, but for Minister Rambharat the potential for a larger crisis is real in light of Government’s shrinking revenues and Caroni Green’s mounting costs.

But the minister disagrees.

“Caroni Green itself never earned a dollar of foreign exchange,” Rambharat said. “While some buyers of CGL’s highly subsidised hot peppers may have had some exports, the majority were sold on the local market, stifling smaller farmers. That model simply cannot work,” the minister said, adding that he is not surprised people want to hold on to monthly salaries as high as $45,000 among a staff of at Caroni Green’s head office.

Seignoret congratulated chamber president Richie Sookai, the chamber’s executive and its membership on the milestone. “This new location will position you to serve the business community of Chaguanas even better than you have been doing, to date,” Seignoret said.

She commended the Chamber on its several projects which have yielded visible success and contributed to the progress of the residents of Chaguanas and surrounding areas. Noting that some of the most dynamic companies were situated in the Borough, she encouraged the business community to continue to cooperate with Government to achieve sustainable economic growth, adding that ‘a sustainable future for our economy requires that our businesses become more dynamic, innovative and export-oriented drivers of growth.

You must take risks, Seignoret urged, seek out new markets, become net earners of foreign exchange, increase private investments and build your competitiveness.

Seignoret told the gathering of initiatives being pursued to improve the Ease of Doing Business, including automation of the construction permitting process of the Town and Country Planning Division which is expected to increase efficiency and reduce approval times; and the readiness of Phase I of the Tamana In Tech Park in Wallerfield for investment opportunities in areas such as Information and Communication Technology; Data Processing; Business Process Outsourcing; Software Development and Animation; and High Value Manufacturing.

She stated that Minister Gopee-Scoon recently attended a Commonwealth Trade Minister’s meeting in London where Member Countries discussed opportunities for boosting intra-Commonwealth trade to US$1 trillion by 2020. She said ‘in the face of sluggish global trade, countries around the world have been seeking out new trading relationships and the Commonwealth market presents significant trading opportunity, with a population exceeding 2.3 billion persons.’ The Permanent Secretary commended the Chamber’s President on his successful tenure underpinned by his commitment to the economic and social prosperity of Chaguanas and Trinidad and Tobago.

Sookhai expressed his appreciation to the Board of Directors who steadfastly supported the relocation of the Chamber’s office so that it can now stand as a ‘beacon for the people and business community of Chaguanas.

Sookai called on the membership to continue to work together with the Government to effect positive changes in the Borough.

He gave the assurance that the Chamber would continue to be a strong advocate for issues that affect the lives of the business community.

The suspect of Beach Road is said to have beaten PC Ramkissoon when he and another officer responded to a report of a disturbance in the area. Insp John laid the charge.

According to a police report, at about 6.30 pm on Sunday, PCs Ramkissoon and Ramsewak went to Beach Road, Palo Seco after receiving a report about a man behaving in a violent manner.

It was reported that they met the suspect and while speaking to him, he proceeded to assault Ramkissoon who suffered injuries to both hands including his right thumb.

Ramkissoon was taken to the Siparia Health Facility where he was treated and discharged.

The suspect was expected to appear in court yesterday.

A police report stated that when Rohit Maharaj, 49, of Scarborough hired the vehicle from Piarco to take him south, the driver informed him that he had to go to Marabella to pick up another passenger.

On reaching the vicinity of the Mannie Ramjohn Stadium in Marabella, it was reported that a male passenger boarded the vehicle.

Both men proceeded to relieve Maharaj of US$3,500, TT$1,700, a $50 cellphone and his Driver’s Permit.

Maharaj was ordered out the vehicle which sped off.

PC Balkaran is investigating.

News that body was seen out at sea broke at 11.30 am, and when Newsday arrived, a crowd had gathered to watch as the nude body was seen floating in the water on its back.

Police who were contacted, in turn called in the TT Coast Guard.

The body was later retrieved by Coast Guard officers and once fished out of the sea, was taken to the Forensic Science Centre where an autopsy will be done to ascertain cause of death, after formal identification is made. Investigations are continuing.

Police said the murder occurred in Marabella recently where a man was shot and killed.

Detectives from the Homicide Bureau (Region III) were expected to interview the suspect last evening.

Police are yet to determine whether or not the recovered firearm was the weapon used to commit the murder in Marabella.

On Sunday at about 9.20 am, officers led by ASP Mohammed and Insp Don Gajadhar received information and went to an apartment building at the corner of Railway and Tramline Road in Princes Town.

The officers who also included Sgt Ramlogan, PCs Ramkissoon, Mitchell, Smith, Guerra and Mohammed searched the apartment where they recovered a pistol with 15 rounds of ammunition and 235 grammes of marijuana.

They arrested the 24-year-old man and his 26-year-old sister and took them to the Princes Town Police Station.

Up to yesterday the siblings remained in police custody without any charges laid against them. Investigations are continuing.