UNC MP: TT's energy sector unattractive

Government’s failed promises and inaction have made TT's energy sector unattractive, according to Pointe-a-Pierre MP and UNC deputy political leader David Lee.

He said recent media reports that Government’s only bid rounds held since coming into office may have failed because the only two joint bidders fell short of the Energy Ministry's requirements was a clear indication that this regime’s absence of innovation, proactive action and due diligence have made the nation's energy sector unattractive, unsustainable to foreign investors, and put it on the verge of collapse.

Lee said as the country was built on a once booming energy sector, it must be asked why only a single consortium bid for three blocks, as opposed to numerous companies on an individual basis. He asked why major companies with a vast amount of experience and years of operation in the sector failed to meet the basic requirements.

He claimed Government failed to create incentives, policies and programmes to inspire, motivate and encourage foreign companies to invest in the sector.