Rowley: People in TT 'sitting on good money'

PRIME Minister Dr Keith Rowley said there are people in this country sitting on "astounding" levels of foreign exchange and private capital but were too timid to invest.

He was speaking on Tuesday at the opening of Furness City Park multi-storey car park at the corner of Richmond Street and Independence Square, Port of Spain.

"It is my view that this project and the approach taken by the Ferreira family is not exclusive to this family. And that other persons who have the means should be encouraged to have faith in our country."

Rowley said he looked forward to similar kinds of commitments from other business houses in the future.

"I know for a fact that there are a number of people in this country sitting on good money but just too timid to invest it."

He said he recently had a conversation about foreign exchange and devaluation of the dollar and he enquired how much foreign currency was owned by local citizens.

"And I was quite astounded to see what it was."

Rowley also enquired about the numbers of private capital in this country's system and he was "even more astounded."

"We are not an impoverished people and therefore we are not limited by fear, limited by laziness, limited by an absence of ambition but we are to be a people who make the most of the resources we have. And at the moment we are not doing that."

He said quite a number of people who probe and push for devaluation were doing so for a "quick earning."