COP: Pull-out over transparency?

CONGRESS of the People leader Carolyn Seepersad-Bachan reacted to Sandals’ withdrawal from Tobago by saying the real issue seems to be transparency, which she said is sorely needed, as TT is no banana republic.

Sandals CEO Gebhard Rainer has blamed the company’s withdrawal on “negative publicity” and “persistent badgering”.

“I think it was about this whole thing about being open and transparent with the details of the agreement,” Seepersad-Bachan told Newsday.

She said legal action in the High Court under the Freedom of Information Act (by activist Afra Raymond) had shown that real issues must be addressed.

“Investors must understand that TT is no banana republic, but agreements must be open and transparent.”

She recalled that as energy minister she had pushed through the Extractive Industries Transparency Initiative (EITI) to promote accountability, despite nay-sayers claiming that would drive investors from TT.

“It did not deter investors, or should I say the right type of investor. If you are a solid investor you could withstand scrutiny and respond to constructive criticism.

“So I don’t take that issue about criticism (as the cause of Sandals’ withdrawal.)”