What's the truth behind NP audits?

THE EDITOR: In an interview on December 4, members of the Petroleum Dealers Association (PD) reported that NP has revenue of $4 billion but operates at a loss. However, NP is one of the many State entities that has failed to produce recent audited financial statements to its shareholders ‒ the citizens. No one is ever held accountable.

Six weeks ago, the Minister of Energy reported that NP does not need to rely on the Treasury for financial support, and that he is earnestly looking into PD's cries of low margins. But NP has refused the request from PD to confirm that its income taxes of $19 million have been paid. Is NP elsewhere owing on loans, that if called, are the ultimate obligation of the State?

So now we look at other half truths. The Finance Minister states that increases in gas price have significantly reduced State subsidies. We must wonder whether the subsidies have simply been taken up by NP and perhaps by extension the BIR, Paria Fuel Trading, and other entities such as NIB, employees.

Is NP in default to Paria? Is it coincidental that supplies to Unipet were cut off the day after local government election? Only when all State entities, including BIR which ought to tell citizens which of these entities are in default and by how much, will the Corporation Sole reveal the whole truth. And as we await the outcome of 24 closed Unipet stations, the administration continues to manage the country by crisis.

BENEDICT ANTHONY

St James