Home' Trinidad and Tobago Guardian : February 23rd 2015 Contents "Oil and gas are volatile products.
When prices are reduced you can con-
tinue with the lifestyle you have grown
accustomed to on the basis of the fact
that you have been very prudent in
your expenditure and you have saving
that could tide you over," he said.
"That is why we introduced the Her-
itage and Stabilisation Fund."
According to the HSF Act, money is
deposited into the fund every three
months once actual revenue exceeds
estimated revenue by more than ten
per cent. A minimum of 60 per cent
of the excess is to be deposited. If the
actual revenue does exceed the esti-
mated revenue but by less than ten per
cent, it s up to the minister to decide
if all or a portion will be deposited.
"All deposits that are required to be
made have been made and will be
made, there is no question that we will
not make a deposit that we have to
make," Howai assured.
Commenting on T&T s current eco-
nomic outlook, Enill, who also served
as minister of finance, said prompt
action is imperative.
"This particular issue we are going
through can go on for a long time, and
if it goes on for a long time and the
longer we take to act on it, we can find
ourselves in a deeper financial problem,"
he said, adding that the fund is far too
small to be touched currently and there
are many other options to be exhaust-
"When prices of oil are reduced there
is little recovery. The impact is imme-
diate. But on the gas basis you can do
all sorts of things, you can move the
product to a different location, you can
increase productivity," Enill said.
Other sector experts, including T&T
Energy Chamber head Dr Thackwray
Driver, agree the fund should not be
"Let s cut the wasteful expenditure
rather than dip into the HSF at this
point...try to cut some of the subsidies
which apply very broadly, instead a
means test can be used so that not the
whole population gets the subsidy," he
Howai remained firm on the issue,
saying within the legislation there are
provisions for protection of the fund.
"We have always said that we must
adjust first and we will adjust first and
we will always ensure that we do every-
thing we can to adjust before we touch
anything there," he said.
Former Media Association of T&T
(Matt) president Sunity Maharaj says
it would be foolish not to have a local
media association in an election year.
She said while journalists would not
be left vulnerable, it would be better
if they had a professional organisation
which could be alert, alive and respon-
Maharaj, and other past presidents
of the organisation met over the week-
end to discuss a way forward for Matt.
Earlier this month, the entire Matt
executive resigned amidst complaints
of ineffective leadership. No date has
been set for a general members meeting.
The entire Matt executive resigned in
a similar manner more than a year ago.
"We are acting as friends of Matt to
try to organise a meeting for members,
but it is only the general members who
can meet and make decisions as to the
organisations future," Maharaj said.
"It doesn t take a lot of people to
come together and get things going."
Maharaj said she did not foresee any
problems. "There are journalists inter-
ested but this last membership did not
build on the momentum created during
the last election. This time the mem-
bership must control the executive."
Maharaj said there were too many
important things on the horizon this
year for journalists not to have an
organisation representing their inter-
"I think it would be foolish not to
have a media association that is alive,
alert and responsive during an election,"
Shirvan Plaza, Shirvan Road -- requires a manager for its International
Communication Research & Business Transactions. All Applicants must be able
to communicate in fluent commercial languages -- English, Spanish, Portuguese
and have previous experience in this field.
Send Applications to: email@example.com and call 7968432 for
interview appointment before 28th February 2015.
Also send a copy of your application to the Chief Manpower Officer, Ministry of
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Port of Spain, Trinidad.
Guardian www.guardian.co.tt Monday, February 23, 2015
Fund too small to be touched
in election year
Scouts from the South-West Zone recite the Scout Promise during a Founders Day and sod turning
ceremony at Palmiste Park, San Fernando, yesterday. PHOTO: TONY HOWELL
NO HSF DEPOSITS from Page A7
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