Home' Trinidad and Tobago Guardian : January 9th 2015 Contents A5
Friday, January 9, 2015 www.guardian.co.tt Guardian
A 19-year-old Beetham man was held
yesterday in connection with the mur-
der of Salim Dalzell.
Dalzell, 17, was shot while outside the
Success/Laventille Composite School
last November 8 as students and teachers
were leaving the school.
Security at the Success/Laventille Sec-
ondary School was heightened in the
wake of his murder.
A report said around 5.30 pm on
Wednesday, PCs Primdass, Cedeno,
Small and Hall of the Interagency Task
Force received information and while on
patrol they saw the suspect sitting at
the corner of Ninth Street, Beetham
The officers held the suspect who
began to fight with them. He was sub-
dued and taken into custody.
Teen suspect held for schoolboy's murder
Opposition Senator Faris Al-Rawi says the
Prime Minister s statement on the economy last
night "just made no sense."
He said during her address she looked "jolted
as she read from a prepared text that seemed
unfamiliar to her."
He said the content of
her presentation was
"unbelievable as it was
illogical in its make-up."
Al-Rawi said Persad-
Bissessar s "delivery was
absent of detail as to
specific expenditure cuts
and even the calcula-
tions of the deficit."
He said the Opposi-
tion PNM would make
more detailed responses
in Parliament today.
Political analyst Dr
Winsford James says the
significant reduction in
the price of oil could
affect the results of the
2015 general election.
James spoke in a brief
telephone interview last
night after the PM s
statement. He said he
was not clear on all the
Prime Minister said so
he would be unable to
make a detailed com-
However, he said the
former PNM govern-
ment, led by Patrick
Manning, lost the 2010
general election partly
because of a similar
reduction in the price of oil in 2009.
And economist Indira Sagewan-Ali, in her com-
ments on the PM s statement, told CNC3 she
had concerns about the Government s ability to
"Where is that employment going to come
from," Sagewan asked.
She said if the State s recurrent revenues con-
tinued to decline "then its capacity to sustain
that employment also would fall. Which sectors
of the economy were going to pick up the slack?"
She said that was one matter which must be
put on the front burner.
Central Bank Governor Jwala Rambarran was
among those in the audience at the Diplomatic
Centre for the statement.
As Persad-Bissessar took to the podium she
was unable to deliver her statement for a few
moments as she forgot her reading glasses.
"I need my eyes, please. I have everything
except my eyes (glasses). I need enhanced vision,"
made no sense
Dr Winsford James
Declaring that this is not the time for
"sudden changes in the direction of eco-
nomic development policies," Prime
Minister Kamla Persad-Bissessar last
night announced that the national budg-
et will now be pegged on a price of
US$45 a barrel for oil and US$2.25 per
mmBtu for natural gas.
She did so as she unveiled a series of
measures to deal with a $7.4 billion budg-
etary shortfall caused by falling energy
prices in an address to the nation on the
state of the economy in light of the con-
tinuing falling oil prices.
The cost cutting measures announced
in an address broadcast live from the
Diplomatic Centre, St Ann s, include
ongoing reviews of the Public Sector
Investment Programme and recurrent
expenditure to yield $4.5 billion in savings,
a 15 per cent reduction in expenditure
on non-critical goods and services in
selected ministries and a halt to infra-
structure projects for which funding has
not yet been confirmed.
Additional revenues are to be generated
through Government s ongoing public
The latter initiative, she said, follows
the success of the First Citizens bank s
initial public offering which added
approximately $1 billion to the public
coffers. As a result, the programme will
continue with the National Gas Company
of T&T Limited (NGC) offering 49 per
cent shareholding in T&T NGL Limited,
which holds the 39 per cent shareholding
of the NGC in Phoenix Park Gas Proces-
"This will be the first ever listing of
an energy stock on the local stock market,
giving citizens a direct stake in our energy
sector," she said.
Persad-Bissessar said since last Octo-
ber, Government had been evaluating a
number of scenarios to be prepared for
possible challenges resulting from falling
"It is worth noting that our fiscal dis-
cipline has allowed us to deliver a budget
deficit for 2014 of $2.6 billion. This figure
is $3.7 billion or 55 per cent less than the
budgeted $6.3 billion," she said.
There will also be intensification of
collaboration for public/private partner-
ships. According to the PM, to create "a
fully transformed and diversified econ-
omy" there are plans to "increase the
private sector footprint in our economy."
PM adjusts budget but keeps social net
Prime Minister Kamla Persad-Bissessar and Planning and Development Minister Bhoe
Tewarie listen to Finance Minister Larry Howai after the PM's address to the nation at the
Diplomatic Centre in St Ann's, last night. PHOTO: SHIRLEY BAHADUR
Persad-Bissessar said the San Fernando
to Mayaro Highway remains a key
investment for creation of an energy
corridor in south Trinidad, "where, for
decades, a great deal of our energy wealth
has been extracted and/or generated."
"By providing a strong link between the
marine operations in the south east and
the industrial operations in the south west,
we will be securing energy for today, and
for future generations with the energy
She said the macroeconomic indicators
by which T&T's economic strength is
measured are far better than in 2010:
Unemployment is historically low at
3.6 per cent
Foreign reserves stood at US$11.3
billion (TT$73 billion)
Import cover is up from 10.4 months in
2012 to approximately 12.7 months in 2014
The Heritage and Stabilisation Fund
has increased by over US$2 billion since
2010 to US$5.5 billion
New Investment in the energy sector
is projected in 2015 to be well over US$2
billion (TT$13 billion)
Inflation remains in single digits.
The PM said Ministry of Finance and the
Central Bank will work closely to ensure
fiscal policy and monetary policy are
"calibrated and aligned." In addition, she
said the Central Bank has stepped up its
supervisory vigilance to respond to any
emerging risk to domestic financial stability
caused by falling energy prices.
"I have instructed the Minister of Finance
and the Economy to collaborate with the
relevant stakeholders in our country to
monitor the state of the economy in the
coming months and report on a regular
basis to Cabinet," Persad-Bissessar said.
She added: "We can withstand the lower
oil prices and the right Government is in
place at the best possible time. Since 2010,
whilst the world reeled from recession, this
administration has curbed wanton
spending and redirected resources in the
best ways.This has kept us strong and
can't come now
Links Archive January 8th 2015 January 10th 2015 Navigation Previous Page Next Page