Senator: Why same directors for 3 Petrotrin legacy firms?

WHY do the three new firms succeeding Petrotrin all have the same three directors, asked new Independent Senator Anthony Vieira yesterday, as the Senate debated the Miscellaneous Provisions (Heritage Petroleum, Paria Fuel Trading and Guaracara Refining Vesting) Bill 2018.

“You have the same people on all three boards. Does that make sense?”

The Opposition had earlier said each company’s directors included Petrotrin chairman Wilfred Espinet and Reynold Ajodhasingh.

Vieira said his concern was for transparency, accountability and good governance.

“I’d have thought we would have got a little bit more information. Do these companies have staff? Do these companies have furniture?

“If these companies wanted to open a bank account they couldn’t do it with the information we have been given in this Parliament.”

Vieira, an attorney, said to open a bank account requires “all kinds of information, down to your address, your projections, all kinds of stuff.

“You get a ‘fail’ for asking me to come here to do this momentous transfer of undertaking, and you can’t tell me who the directors are.

“I’d want to know you have three boards in place of people who are eminently qualified to do the things that you are taking from Petrotrin and giving to this operation.”

Saying he would nevertheless support the bill, Vieira said, “But I think a lot more information is required in keeping with the transparency, accountability and good-governance formula.”