Business
Trinidad & Tobago: Drop in oil prices results in loss of $1.2 billion
She said that further savings would be “derived from a lower oil price generating a lower demand on Government for the petroleum subsidy, adjusted possibly to TT$1.7 billion (US$270 million).
“With the best made plans, accelerating development, increased growth and stability, it is the people we depend on to make it happen. Sectors cannot expand, the economy cannot grow, the future cannot be secured unless the policies we implement and the vision we pursue place the people as the drivers of progress,” the statement quoted Prime Minister persad Bissessar as saying.
It said “business people endorsed the statements made by Persad-Bissessar and welcomed the thrust to engage the private sector in Public-Private Partnerships” and that the business representatives had identified “two issues that are critical to their operations – shortage of labor and foreign exchange.”
The statement said that the Ministers of Finance and the Minister of Trade, Industry and Commerce were mandated to meet as a matter of urgency to develop a sustainable plan to manage foreign exchange supply. -(CMC)
