Lee seeking more info on new companies

POINTE-A-PIERRE MP David Lee is calling for transparency from the government in relation to the two new companies established to replace Petrotrin.

In a statement to the media yesterday, Lee said the recent announcement of the new companies Paria Fuel Trading Company and Heritage Petroleum Company, has caused more questions to be asked and is a cause for concern.

“At this point in time, one of the major questions on the minds of our citizens pertains to the registration of both companies and whether these companies have been registered locally in Trinidad and Tobago or registered at all. This question becomes quite relevant given that a company with the same name of “Heritage Petroleum company LLC" exists in the United States.

Lee asked whether it was a case of pure coincidence that both companies have the same name or whether the entities are linked.

“It is further inconceivable and rather disrespectful to the population that steps are taking place to operationalise both companies to utilise the State's resources while the nation remains in the dark as to who are the shareholders of this company, level of ownership by the State as well as the directors of both entities. The people of Trinidad and Tobago need to be told who are the individuals making key decisions as well as how they have been appointed.”

Lee accused government of failing to provide information about how HRC Associates was selected to hire staff for the companies, although government has routinely boasted about its focus on transparency and accountability.

He said government has also neglected to say what assets would fall under the new companies.

“(Would) all of Petrotrin's assets inclusive of property, machinery as well as marine assets be placed into the hands of both entities or would a certain percentage or quota be sold off? Government must further state the position as it relates to Petrotrin's debts and if these new companies would become liable for such.

“Besides the operational and administrative issues surrounding both entities, another major concern facing our nation is the possibility of more job losses. Would the launch, new role and services of the Paria Fuel Trading Company lead to the closure of the National Petroleum Company? Would we see thousands of employees on the breadline yet again?”