NGC reports 100% compliance with integrity filings

THE National Gas Company of TT (NGC) has reported achieving “100 per cent compliance” with the statutory filing requirements under the Integrity in Public Life Act. The company’s chairman, Joseph Ishmael Khan, received a certificate from the Integrity Commission on December 19 recognising the company’s adherence to the Act.

NGC’s board of directors completed and filed the required declarations concerning income, assets, liabilities, and registrable interests, as stipulated under Sections 11 (1) and 14 (1) of the Integrity in Public Life Act.

The Integrity Commission's chairman Hadyn Gittens presented Khan with the certificate during a ceremony in Port of Spain.

This announcement comes as NGC is grappling with a major financial setback. The company recently reported a hefty $1.3 billion loss for the fiscal year, contrasting positive performance in previous years.

The loss has been attributed to a variety of factors, including a downturn in global energy prices, reduced production levels in the natural gas sector and escalating operational costs.

NGC nevertheless continues to highlight its long-term strategy, which it says is focused on sustainability and the transition to renewable energy sources. The company has also expressed its commitment to improving operational efficiency.

After receiving the certificate, Khan spoke of the importance of good governance within NGC.

“I am excited to receive the Integrity Commission’s acknowledgement of 100 per cent compliance as good governance is the hallmark of the culture of a solid and forward-thinking organisation.

“The board of directors and I are committed to, as part of national service, accountability, transparency, and compliance with regulations. It is a consensus of all members, and we are proud of this achievement,” he said.

The Integrity in Public Life Act was established to prevent corruption among public officials, regulate the conduct of persons exercising public functions and preserve the integrity of public institutions.