Attorney General Faris Al-Rawi announced in the House of Representatives on Friday that Unipet has filed an injunction following the fuel cut by Paria Fuel Trading Company.
He made the announcement during Oropouche East MP Dr Roodal Moonilal’s contribution to debate on The Finance Bill. Moonilal said that Paria as a state company should have informed the Government beforehand that there were issues with Unipet. Al-Rawi interrupted him to say that he was informed that Unipet had filed an injunction and the matter was now sub judice. He did not provide any further details on the injunction.
Al-Rawi in his earlier contribution noted that Caroni Central MP Dr Bhoendradatt Tewarie had said Paria was in a “war” with Unipet. He said Tewarie knew that Unipet is a wholesaler alongside NP and NP runs more stations with a greater overhead. He explained Unipet received a credit arrangement with up to 60 days with no obligation to pay which was roughly a tanker a day on a wholesale margin arrangement.
He said there was some odium in Paria calling upon NP and Unipet to have their monies managed. “In which business arrangement you have $172 million outstanding. Which la la land does that make good business sense?”
Al-Rawi said Unipet was making more money than NP and he did not know which interest Tewarie was “batting for” though he has acted as a consultant in some occasions.
“Economic management and prudence means you must watch your receivables. If you slack and farse with finances, give away a billion bond payments, you end up with a situation where you have money on paper and nothing in your pocket.”
The Prime Minister said that Unipet had gone to court to file an injunction and now taxpayers have to find a lawyer to defend the case.
Paria, in a statement on Tuesday, said it had decided to cut Unipet’s fuel supply because the company had failed to renegotiate a supply agreement since April 2019.