The collapse of the Soviet Union in the early ’90s left the United States as the world’s sole superpower. Without a rival to act as an effective counter to its ambitions, the international community found itself at the mercy of a geo-political bully, whose self-serving interests have often resulted in regional destabilisation and the creation of rogue entities. 

What’s going on in the Middle East is a prime example of the chaos that follows their short-sighted and often unilateral action. The “liberation” of Iraq as part of the “War on Terror,” while succeeding in the removal of a single dictator has since allowed a radical theocratic regime to fill the power vacuum.

It’s times like these that can make a cynic like myself long for the “good ole days” of the Cold War, when all we had to worry about was the apocalyptic showdown between the US and the USSR that would result in a nuclear holocaust. On more than one occasion we came really close, but better sense always prevailed at the last moment to avert catastrophe. Eventually the “Evil Empire” was defeated, bringing about the “Pax Americana” and the promise of a bright future for all who embraced democracy, capitalism and their patronage. 

Now, decades later, the Russian bear has emerged from hibernation, and seems intent on reclaiming its former place as a major player on the world’s stage. Recently it flexed its muscles in neighbouring Ukraine, using a puppet government to annex the strategically important region of the Crimea. 

Even in the face of crippling UN sanctions and threats of NATO intervention, President Putin has dared them to stop him, only to find that they are either powerless or unwilling to do so. Now his eyes are turned to war-torn Syria, where his country’s long-time ally, the Assad regime, finds itself caught in a three-way fight with nationalist rebels and the terror-driven Islamic State. 

If history teaches us anything about war, it’s that isolated incidents can easily turn into huge messes. And when that happens, even the little guys can get pulled into the fray. What we are witnessing in Syria may very well turn into a major flashpoint. Russia’s involvement might only encourage the United States to take a more active role in the conflict, else they risk being seen as irrelevant. 

Already there are indications that Iraq is leaning towards co-operation with Russia in the fight against ISIL. It won’t be long before the rest of the world will be subjected to the old practice of suasion, where the use of hard (military) and soft (economic) power will force everyone to choose a side. This time, however, China has presented itself as the third option. With the largest population and one of the largest economies, the communist nation has aspirations of becoming the next superpower. 

So what does all of this have to do with T&T? After all we’re a small island-state with little to no involvement in the affairs of giants. But as the price of petroleum continues to fall, countries like ours that are dependent on its export now find themselves on the brink of economic turmoil. 

And so, faced with diminished earnings from the energy sector, the Finance Minister announced that our government will make overtures to Chinese banks, inviting them to set up their regional headquarters on our shores. We have to keep in mind that our geographic location with respects to the US puts us in their veritable backyard. 

Therefore such a move will no doubt result in their taking a keen interest in our foreign and domestic policies, and whether they signal a shift in allegiance. 

With tensions continuing to escalate, the world may soon find itself embroiled in a new Cold War. If we are intent on playing “the great game,” then we had better learn the rules—fast. 

According to the philosopher George Santayana: “Those who cannot remember the past are condemned to repeat it.” Perhaps we should take a refresher course before going any farther.

In listening to a popular morning radio talk show yesterday, I was indeed pleased to hear the host making statements on what he expected in respect to proper behaviour and respect in some of the young members of parliament in their presentations. He thought that the aggressive manner and utterances made were disrespectful. 

This senior and respected presenter even suggested that these young and new ministers should be taught proper conduct and decorum by their respective parties. I totally agree with him as continuity of this behaviour does not do any justice to the governance of the country.

Richard Lobo

Diego Martin

Despite what Mr Basdeo Panday said in early April 2005 that “Politics has a morality of its own,” the exuberance of youth and the immaturity, it seems, of seasoned parliamentarians in this eleventh parliament, leave much to be desired. 

One would expect good-natured picong but not profanity, especially in the Westminster system that we claim to follow. Now that the shoe is on the other foot, the Opposition members are feeling the stinging pinch, in light of the unbelievable bursting of their victory bubble on September 7. 

Not to be outdone, ministers are not only still drunk with success but are vying for the attention of the Prime Minister who to date, has carried about himself in a very statesmanlike manner.

It may have temporarily escaped our parliamentarians that debates are not only happening in realtime but are being broadcast on public television where young and old alike are observing their behaviours. 

Where is the respect for one another, regardless of political affiliation? Life is given to unparliamentary language and behaviour by talk shows on many radio stations, with audio clips of the speakers being played and replayed, almost ad nauseum. 

Is this what parliamentarians want? Referencing previous unparliamentary language, however far back and said by whom, is no excuse for good or exemplary behaviour. Sure, picong is part of our culture and nothing is wrong with it. So too, cross-talk during debates, even though it is disrespectful to others and shows disdain for the speaker.

In this new parliament, given the tenseness of the recently-concluded general elections, it is expected that accusations and denials would be made and that tempers would be high. Parliament is certainly not the place for rumshop talk and behaviour. It is about the people’s business and being the highest court in the land does not mean “anything goes” and that it “takes care of its own.” 

T&T is on show to the world, especially in this age of technology, which has made the world a global village. So despite “who did what” and “who didn’t do what,” we need to heed the words of our Prime Minister who expects that all of us would work together to build a better T&T. Let us not demean ourselves and descend into gutter politics in the eyes of the world.

To begin the process, I suggest that the Speaker, Deputy Speaker, Senate President and Senate Vice-President must nip unparliamentary language and behaviour in the bud, lest it becomes too ingrained in the parliament. To date, the Speaker and Deputy Speaker have been a little tardy in responding to such unbecoming behaviour. If necessary, the Speaker, Deputy Speaker, Senate President and Senate Vice-President should suspend for a day, anyone, including the Prime Minister and Leader of the Opposition for unparliamentary language or behaviour. 

Parliamentarians should not use parliamentary privilege to say and do whatever they want, smug in the fact that they cannot be sued.

Further, I suggest that the Prime Minister forthwith speak with his ministers and senators on what constitutes good parliamentary language and behaviour. 

The Leader of the Opposition should do likewise with her members of parliament, including Senators. Additionally, the Prime Minister and Leader of the Opposition should agree to have an independent person, not necessarily local, spend one day with all parliamentarians, articulating the dignity of parliament.

As the Prime Minister said, let us all work together to make parliament more dignified and not be ridiculed in calypsoes, too numerous to mention, including one that assisted in crowning a calypso monarch not so long ago. 

Picong yes, unparliamentary language, no.

Harjoon Heeralal

Carapichaima

As I witness the continuous display of the violence taking place in our country’s schools, I remain concerned for the future that is being created for our children and sometimes by our children.

It is clear to me, and it has been for quite some time, that emerging from our society have been students who are inevitably the products of the circumstances that prevail in our societal landscape. Broken marriages, fatherless homes, teen pregnancies, children making children, grandmothers as head of households, domestic violence. These are only but a few! The list goes on. The question now is, what do we do to manage this problem while at the same time move to eradicate it completely at its core.

Unfortunately the answer to this is not at all straight forward as the issue at hand has become so complex in nature, with the causative factors having their feeding tentacles so well embedded in many critical areas of our human and social development. 

This problem with its social manifestations, has been significantly encumbered by the psychological mind set our of students today. This mental disposition has, and continues to be, nurtured and influenced by the picture of reality that is presented to our children through various channels; from social media, television, among other things, along with the theatrics of the social characteristics that are modelled in many of our societies today. These are the contributing factors that create the attitudes, values and choices that are evident in our children today. 

A perilous situation now exist where teachers in our classrooms are being asked to do more than they are trained to do, and must now manage some students who demonstrate elements of criminal behaviour almost on a daily basis. Further, this puts some of our other children at severe risks.

A teacher’s job is to teach in an environment that must remain conducive to allowing them to do their job to the best of their ability. It must be an environment that does not inhibit other students or deprives them of learning. Also, it should not be the teacher’s responsibility to deal with students who consistently engage in acts of violence and criminality. There needs to be a state-derived mechanism where students who cannot conform to appropriate classroom behaviour be placed in alternative educational institutions that can provide the type of counselling, guidance and supervision that are more able to address their unique needs.

These centres will continuously evaluate the performance of these students, both socially and academically, to determine the level of mainstreaming that may be required to ultimately place them back into the regular school system. 

In our school communities, it is critical to establish the conditions and parameters that should govern the deportment and behaviour of our students; in keeping with the rules and regulations that apply to our societies at large; to include, their respect for human rights, and the rule of law. 

However, to sometimes administer this process requires more than the classroom teacher to do so. Having worked in three US states as a teacher and witnessed the benefits of this system for well over six years, I hold the view that the time has come for T&T to have specially trained resource officers, be a regular part of our education system. Equally as important, is to have on staff, a full-time guidance counsellor, who works closely with these officers. 

In addition, each school must be assigned social workers who manage the relationships between, school resource officers, guidance counsellors and parents and guardians. This must be the co-ordinated approach if we are to see improvement in the overall behaviour of our students. 

We must create a system that allows us to manage the human, social and academic development of our students. It must be monitored and measured, and even sometimes revised where necessary. Let us create that village to assist in bringing up our children. 

These are at least the basic resources that must be provided if we are to see long-term sustainable change in the behaviour of our children, and by extension to the emergence of a civilised society. 

There is much more to be said, but hopefully at another time.

Arnold Corneal,

Maracas Valley

I stopped eating doubles a few years ago when I learned about the dangers that modern wheat posed to our health (destroys gut flora thus weakening the immune system, making you vulnerable to a host of diseases, and it gives you “wheat belly”). More generally, I stopped eating anything containing wheat (white flour, whole-wheat flour, white bread, whole-wheat bread, any-number-of-grains bread, cake, pastries, biscuits, you get the idea).

Modern wheat is so different from the wheat our mothers and grandmothers used that it is called “franken-wheat” by Dr William Davis in his New York Times best seller, Wheat Belly. (You can find more information on YouTube by searching for “William Davis Wheat Belly.” You may also come across attempts from vested interests to discredit Dr Davis but our independent researchers have verified that his claims are essentially accurate.)

Apart from the flour used to make the bara, it is probably fried in polyunsaturated vegetable oil (like corn oil, sunflower, soy bean or canola oil), making it “doubly” unhealthy. (Polyunsaturated oils increase the risk of cancer, among other bad things.) 

Once again, I advocate the use of the healthiest oil on the planet, coconut oil, and beseech the Government to remove the 40 per cent duty levied on it, making it more affordable to all. I guarantee it will reduce the health bill of the country. But I digress.

A few days ago, I explained how a taxi driver needed to increase his fare by just a few cents to compensate for the 15 per cent rise in fuel prices. Now we hear that some doubles vendors are raising their price by 25 per cent (from $4 to $5). And they have even less justification than the taxi drivers! Most doubles vendors sell near to where they live and, for others, they drive to their selling place, park up, then drive back home. The profit from one doubles would be more than enough to cover the typical increased fuel cost.

Despite this, we hear the silliest of justifications. Some say they “have no choice but to raise the price.” 

However, it was heartening to hear that some vendors did not raise their price, saying there was no justification for doing so. Kudos to them. Still, it’s a free-market economy and vendors are welcome to charge what the market will bear. If you feel $5 is too much then just don’t buy.

As you might guess, I wouldn’t buy doubles even if it were one dollar, much less five. Yes, it tastes great and it took some will-power to stop eating it. But I’m glad I did.

We should all stop eating doubles (and other wheat products) but not because of the $5 price. We will pay a much higher price by the long-term ruin of our health. Noel Kalicharan

Review by Kevin Baldeosingh

Are you the kind of person who gets into arguments about which historical figure was more evil than which? Or about historical facts in general?

If so, then Atrocities is one of those few essential texts you must have on your bookshelf (or, nowadays, e-reader).

Sub-titled “The Hundred Deadliest Episodes in Human History”, this book is actually not written by a professional historian. Matthew White is a librarian and, clearly, one of those persons who are obsessive about facts (but all real librarians are). Unlike most obsessives, however, White can joke about his obsession: “No one likes statistics as much as I do,” he begins in the introduction. “I mean that literally. I can never find anyone who wants to listen to me recite statistics.”

White calls himself an “atrocitologist”, and is probably the only one in the world. This book is the outcome of a website he has maintained for years, a key resource for professional historians, now in book form. His Historical Atlas of the Twentieth Century has figures and facts about literacy, populations, workforce, infant mortality, and casualties of war. “Of course, the numbers people want to argue about are casualties,” White says. “Boy, do they want to argue.”

White explains that he bases his statistics on money. “Even if a general is reluctant to tell the newspapers how many men he lost in a bungled offensive, he still has to tell the accountants to drop 4,000 men from the payroll,” he writes. White’s lower threshold for defining an atrocity is the deaths of the several hundred thousand people. Each atrocity gets from three to ten pages, but White is masterful at focusing on crucial details and succinct interpretations that you might not get from more lengthy treatments. His list, chronologically, begins with the Second Persian War of 480-479 BCE (Before Common Era) and ends with the Second Congo War from 1998-2002). In the former, 300,000 persons were killed and it ranks 96th on his list; in the latter, 3.8 million were killed and its ranks 27th.

He also provides a ranking of the 100 deadliest multicides, which in terms of total numbers is headed by the Second World War (1939-1945) in which 66 million persons died. Interestingly, the next worst atrocities both occurred in East Asia, separated by seven centuries: Genghis Khan’s conquests saw a body count of 40 million in the 13th century over 21 years, with an equivalent total for Chairman Mao’s 27-year regime in China starting in 1949. White also provides totals for deaths caused by religion, communism, and genocides.

He notes, however, that humanity has progressed over past centuries. “By my calculation, around 3.5 per cent of all deaths in the 20th century were caused by war, genocide, or tyranny. This is certainly higher than the two per cent who died of those causes in the 19th century, but less than the 15 per cent that anthropologists and archaeologists have found to be the average for tribal, pre-state societies.”

As Alta continues annual student registration at classes across Trinidad, we rally our readers to share the message of our anti-stigma campaign: No shame. Go brave. You can read. Alta tutors who have completed their first year teaching are sharing their experiences to encourage others to come volunteer their time to teaching adults to read. Here is one of our tutor testimonials.

Being a volunteer teacher with Alta started with my wanting to give back. 

I thought that I have been reading all my life, it's like second nature for me, so why not help someone else learn to read?

I didn’t know what to expect with the training so I went in with an open mind, but going through the training process is when I realised how much I didn’t know or how much I had forgotten. When I was taught to read, I was young and some of the reasoning and the rules I had forgotten. Being trained not only prepared me for my first year, but helped my own understanding. 

The Alta experience started for me at the Nazarene Church where I was allowed to observe the tutors and how they teach. That is before it became my job to be the teacher! When I met the students, I got an excited feeling because now I was a part of their significant change. 

They all have different stories as to why they never developed the skill of reading. When I heard these stories, I felt sad but then I realised they didn’t give up. Seeing that built a strong sense of contentment within myself. These heart-touching stories worked as my motivator to make a greater effort in helping these students read.

While the students’ stories differ, the outcome of all their stories is the same: it brought each one of them to a willingness to learn and to the same place to learn—Alta. 

To teach someone to read is one of the most fulfilling things you can do and one of the rewards you get is that feeling of self-satisfaction. In my year of being a volunteer tutor I got to take a journey in the shoes of an adult learning to read, which grounded me as an individual. 

If you have the time, I would like to encourage you to volunteer at Alta. You will never regret it. 

n Sasha Lakraj, Sangre Grande

MORE INFO

New student registration in over 50 communities. Call 624-2582/741-9454 for info. No shame, go brave!! 

Volunteer, Donate, Sponsor-a-student. Like us on Facebook or check our YouTube Channel: Adult Literacy Tutors Association.

Now that I have seen how T&T handles transitions between governments I have realised, disappointingly, that I have been exposed for the first time to societal divisions I was previously blind to or that I ignored because I believed the unity of the people was great enough to override them.

It is hard to label these divisions. I want to put it down to partisan politics but the bitter acrimony that accompanied the handover of power (the UNC’s desperate, nonsensical legal challenge over the election result) and the conduct of some of those who have recently assumed power (the vacuous sneering, discourteous gloating and childish bigotry of some PNM ministers) is such an horrendous example to set that it is little wonder partisan supporters have continued to flood social media with bile and racism in the past weeks. 

I was warned about it before I went to Trinidad. Maya Wolfe-Robinson, a comment editor at the UK Guardian and British with Trini roots, had told me the political scene was deeply racist and that it pervaded deeper into society. But when I broached the subject in my first few weeks in Trinidad with MATT president, Francesca Hawkins, she told me there was no racial tension in T&T, and for most of my year-and-a-half living there it seemed that was the truth. It seemed like a racial utopia. 

All of these things are about perspective. As a Londoner I see London as the ultimate melting pot of integration but I have been told by visitors that it feels like a hugely segregated city. Living in Paris we see interracial relationships everywhere, yet people’s perception of Paris from the outside is of a ghettoised place fraught with racism. I do believe Trinidad is in a better place than most—look at the race problems of American society—but if all it takes is a general election for the racism to come out then there is a problem. 

As UWI anthropology lecturer Dylan Kerrigan pointed out when interviewed for the Sunday Guardian recently, politicians have a responsibility to set the tone for the racial climate in T&T; particularly in an era when social media allows people further down the social scale to freely express opinions that gain public prominence no matter how hateful.

Nowhere was the situation more clearly demonstrated than in the parliamentary exchange involving the new tourism minister, Shamfa Cudjoe, who mispronounced an Indian name and was reprimanded for it. Cudjoe responded to the reprimand in the manner of the schoolyard. The silly squabble, however, was commented on in vile tones on Facebook. One Indian user suggested that Africans had trouble pronouncing Indian names because Africans only had names given to them by their white English slave masters. To which another user pointed out that the first commenter’s name, Imtiaz John, was hardly authentically Indian itself.

It’s not that British politics is a haven for maturity. At the Conservative party conference in Manchester last week, young Tory delegates were pelted with eggs by anti-Tory protestors chanting “Tory scum.” But though class micro-wars are played out between rival supporters in the UK, the racial element is absent, as it should be from Trinidadian politics. It is well beyond time that a legitimate functioning party built completely independently of the foundations of ethnicity was formed in T&T. Perhaps that might be the catalyst for attracting a higher calibre of politician than we see in the two main parties and mobilising a more literate section of society to engage in politics and create a movement similar to the Tapia House Movement of the 1970s to drown out the noise of the braying, hardcore, racial mobs.

One of the most infamous incidents of recent British politics was the handwritten note Labour’s outgoing chief secretary to the treasury left on the desk of his incoming Conservative counterpart after the 2010 election, saying: “I’m afraid there is no money. Kind regards and good luck!”

I presume there was no note of that nature left on Colm Imbert’s desk by Larry Howai, though one did not need to read between the lines of Imbert’s budget speech to ascertain that he felt his predecessor had left him with a mess to clear up.

Though I am opposed in principle to the notion that national economies must reduce the deficit at all costs, I do understand Imbert’s concerns for the next five years and I don’t see anything drastic in his revenue generating measures. The oil is running out and the bubble that many Trinidadians have been living in is about to burst. In real-world countries people don’t get free education from nursery to PhD, free laptops for school and heavily subsidised fuel. 

In Britain we pay 50 per cent tax on our fuel plus 20 per cent VAT. So the response from some Trinis to the reduction in fuel subsidy was another disappointment this month. It smacked of selfishness from people who can very easily afford it, whilst nowhere in the public reactions were people concerned that one could search for the terms “welfare” and “social security” in Imbert’s budget speech and find them entirely absent.

As iconic steelbands Massy Trinidad All Stars and CAL Invaders celebrate their 80th and 75th anniversaries, respectively, in 2016 Desperadoes will celebrate 50 years of success in steelband competitions. The steel orchestra with the most national Panorama victories in its bushel, as well as three Steelband Music Festival championships, has embarked on a rejuvenation programme aimed at lifting the Laventille Hill steel orchestra to its former glory having lost some of its spark in recent years.

Desperadoes PRO Patricia Rock-Ross said this week: “Desperadoes recently elected a new management committee, its membership being a mix of relatively young members with a few of the elder heads. Our new manager is Curtis Edwards who comes with a wealth of experience in not just music, but in leadership as well. A past captain of Desperadoes and of his own band, Crescendoes, he is also a UWI grad in music.”

Rock-Ross added that the new committee is intent on creating a bond between the players, the supporters and the community. “Jump high, jump low, all of Laventille and Desperadoes is one family and it is high time that we eradicate any form of division that may have existed in recent years. It is not nice when we hear people, especially some of those who have supported us through the years, saying that Deperadoes is a has-been. Our mission is restore the pride and dignity of this great institution and of course to win the 2016 national Panorama title.

“One of the first things this new committee intends doing is to pay recognition to the leaders, players and members who started it all, like Rudolph Charles, Eugene “Gunga Din” Mc Clean, Carl Greenidge, Dennis “Tash” Ash, Elias “Peugot” Phillip, Roy “Babylon” Corrigan, Rudolph “Crabby” Edwards, Thomas “Thunderbolt” Williams, Ursula Tudor, Anthony Mc Quilkin, Anthony “Ben’ Up” Kinsale, Robert Greenidge and Lloyd Maloney, just to name a few. Even I, after 28 years of being part of Desperadoes, am learning. I recently learned that Franklyn Gerald was the band’s first nine bass player when that instrument was invented by the late Rudolph Charles.” 

After Gerald, Desperadoes has always been served by some outstanding nine bass musicians, like Crawl, Gunga Din, Sensie, Bando and Jakes.

Ironically, when first formed, Desperadoes was more famous as a “mas band” than a good steelband. In those days, the band was led by Wilfred “Speaker” Harrison. All that changed with the ascendancy of Rudolph Charles as the band’s captain in 1961 and by the mid sixties the mas-playing entity of Laventille Hill was converted into the country’s most potent steel orchestra, producing excellent music with the leadership of Charles, arrangements by Beverly Griffith and skilled pantuners like Bertie Marshall and Lincoln Noel.

Rock-Ross continued: “For starters, the band will come together to host an awards ceremony at which these stalwarts and heroes of Laventille will be remembered.

“Part of my responsibility is to facilitate the younger members with the history of the band and its achievements. If people don’t know where they have come from up, not only will they be unable to derive pride in that they are doing, but will not be able to go forward with any success.”

Desperadoes has had a fully equipped concert auditorium on the Hill which has been under utilised. “It is now being rennovated so that we can have our own concerts in our home, as well as make it amenable and accessible to the community.”

The musicians who have aided Desperadoes to these achievements since 1966 have been Beverly Griffith, Clive Bradley, Robert Greenidge and Dr Pat Bishop. 

Desperadoes won its first National Panorama title in 1966 playing Griffith’s arrangement of Sparrow’s Melda. Playing Borodin’s Polovetsian Dances, the orchestra won Pan Is Beautiful National Steel Orchestra Music Festival in 1986.

Rock-Ross said: “We intend to refresh the people’s minds as to who we, Witco Desperadoes, really are and all of what we have accomplished. Of course our history and achievements are much more than 50 years as the band was actually formed many years before, since World War II in the forties.

“We want all the Desperadoes family to come back home. I want to tell them they all have a home and in our house, in which there is love in every room, when we come together and unite we are a force to reckon with and nobody can defeat us.”

With the 2016 budget debate almost out of the way in the House of Representatives, Finance Minister Colm Imbert’s next big challenge is finding a solution to the CL Financial/Clico matter, which started during the last People’s National Movement administration and remained unresolved over the 64 months that the People’s Partnership governed T&T.

The ideal resolution of this issue would result in the following:

• The Government would be repaid, in its entirety, the sum of money it is owed for funding the bailout of Clico;

• The winding up of Clico Investment Bank would be completed and all of that institution’s legitimate creditors paid off;

• The policyholders of Clico and British American Insurance would receive 100 per cent of the investments they made in those insurance companies;

• What is left of the insurance companies would then be returned to the CL Financial shareholders.

It seems to me that the previous administration, specifically the former Minister of Finance, Larry Howai, was negotiating an extension of the shareholders’ agreement, which was first signed in June 2009, that would have allowed the shareholders of CL Financial ownership and/or control of significant CL Financial/Clico assets before the full repayment of the monies owed to the Government.

That arrangement, unless very carefully managed, is likely to mean a delay in the full repayment of the CL Financial debt to the Government for several years and would take place at a time when the new administration is counting on the revenue from the monetisation of Clico’s assets to close the fiscal hole resulting from the plunge in the prices of T&T’s main energy exports.

In fact, Mr Imbert made it clear during his budget presentation on October 6 that a “partial repayment by Clico relating to the Government’s financial support,” would be part of the extraordinary, one-off payment of $13.4 billion that he expects to receive from state-owned assets, including from the IPO of TTNGL, debt repayment by TGU and a dividend from NGC.

What is still unclear is whether the undisclosed amount due from Clico includes the $3 billion in lieu of cash that the Government expects to get from the transfer of Clico’s shareholdings in Angostura, CL World Brands and Home Construction Ltd or if Mr Imbert has something else in mind.

It is noteworthy that in his March 27, 2015, statement on the Clico resolution, Central Bank Governor Jwala Rambarran mentioned the sale of Clico’s shares in Methanol Holdings (International) Ltd and the share swap arrangement outlined in the paragraph above.

But Mr Rambarran did not specifically outline the role that CL Financial’s shareholding in Republic Bank would play in the resolution of this matter.

Now, CL Financial’s shares in Republic Bank are held by the following entities, according to the bank’s 2014 annual report:

Added together, CL Financial’s shareholdings amount to about 51 per cent of Republic Bank, and are worth $9.6 billion at a price of $120 a share.

But the Government does not have automatic access to the 81.2 million shares that would give it a majority stake in T&T’s largest bank because of the following issues:

1) About 25 per cent of the bank’s shares are being held to back the CIF, which was accepted by thousands of policyholders as part payment of monies owed to them. Units in the fund are traded on the local stock exchange. Monetizing this stake would involve a negotiation with the CIF unitholders at a special meeting;

2) Over 18 per cent of Republic Bank is held by CIB and its St Lucia-based subsidiary, First Company. But CIB is in liquidation and, therefore, monetizing this stake would involve a negotiation with the liquidator, the Deposit Insurance Corporation. The DIC is in the process of selling all CIB’s assets to pay its creditors;

3) Over seven per cent of Republic Bank’s shares are Clico, and may be accounted for in the company’s statutory fund.

What this column is suggesting is that the Government should take control of Republic Bank and at the same time dispose of its shares in First Citizens, based on the assumption that there would be competition and other concerns if the State were to own majority stakes in two domestic banks.

This could be achieved by doing the following:

• Swap the 40 million Republic Bank shares in the CIF, which were worth $4.1 billion at inception, for 117 million shares in First Citizens, which are worth $4.1 billion today. By my calculation, the CIF unitholders, collectively, would go from owning 24.79 per cent of Republic Bank to owning about 46 per cent of First Citizens.

The State would retain about 34 per cent of First Citizens, which could have a golden share arrangement embedded in it or could be sold in a secondary offering for $3 billion.

The Government would own about 25 per cent of Republic Bank through this arrangement, and would have $3 billion in cash if it ended its relationship with First Citizens.

• The State could then swap the Republic Bank shares owned by CIB by paying the investment bank’s creditors GORTT paper (either zero-coupon or an inflation-linked coupon bond). This would result in the Government owning 18.2 per cent of Republic Bank through this arrangement;

• The Government would then take control of Clico’s shares in Republic Bank, which are worth $1.3 billion today, as part payment of the money owed by the insurance company for the bailout. The sum of $1.3 billion, by the way, is almost exactly equal to the 15 per cent of contractual liabilities on maturity owed by Clico to the Government.

This series of transactions would result in the Government having a majority stake in Republic Bank, which would be worth $9 billion today, for which the Government could take its time in finding a buyer who would be willing to pay top dollar for a majority stake in the country’s largest bank.

With the first partial distribution by the Central Bank leading to the transfer to the Government of Clico’s stake in Angostura, CL World Brands and Home Construction worth $3 billion (plus $4 billion in cash), this proposal would bring the Government closer to resolving this issue, which is now in its seventh year. 

Alternatively, the Government could consider bundling some of its shares in First Citizens with Clico’s shares in Republic Bank and the insurer’s shares in Angostura and Home Construction (which should be debt-free now, as a result of the US$100 million loan from CL World Brands to CL Financial) into a single company which could then be offered to the local investing public.

Now that Caribbean Airlines Ltd (CAL) is positioning itself to cope with its external challenges including swift competition, and a smaller subsidy (transfer to state enterprise) of $92.2 million in 2016, Mariano Browne, former Minister in the Ministry of Finance said the airline should not have received a subsidy at all. He said when the airline was first set up it was envisioned that there should be three years of government’s support, not eight. The subsidy it received in 2015 was $200 million and, in 2014, $452 million. 

According to the Review of the Economy 2015 bulletin which accompanied the budget documents, the airline received a letter of guarantee for a US$75 million loan. CAL also received a transfer of $216.4 million during the 2015 fiscal year yet it still reported an operating deficit of $104.8 million. (See Box)

The airline began flying to 10 markets on January 1, 2007, which means that, in 2010, the subsidy should have discontinued, according to Browne in emailed responses to questions posed by the Business Guardian on Friday. 

In early February 2015, then finance minister Larry Howai told Parliament that unaudited accounts for 2014 showed the airline made a loss of US$60 million inclusive of its Air Jamaica operations, and the airline planned to break even by 2017. 

Last week Tuesday, at the airline’s Piarco headquarters, CAL chief executive Michael DiLollo officially announced the airline will stop flying to London on January 10, 2016 because the profits on the route had taken a nose dive causing millions of dollars in losses for the airline. He, however, did not disclose the exact figure of what the losses were, but assured the airline was “well on its way” to achieving a break-even position in three years.

But Browne said if the airline was allowed to operate without any input from the Government it would already have achieved a breakeven position and would not have needed any support.

“CAL was set up to achieve economic viability in three years. That was predicated on government not being involved in the detailed running of the airline. This is part of a wider philosophical position that the Government must address shortly. That is, that state enterprises must be run at arms length on a non-intervention basis. It must be addressed, sooner rather than later. In short, it must be run on the basis of financial viability.”

Commenting on the need for a bail out, Browne said a bail out may be necessary to provide some form of assistance but this must be “one-off” and have an end date, “because all infants eventually have to grow up.” 

Referring to job cuts which DiLollo suggested may be coming for the airline, Browne supported this move saying that all businesses must do what is required to achieve viability and to maintain their independence.

Concerning having a code-sharing agreement with Qatar Airways, British Airways or any other airline, Browne said: “Code sharing is a sensible economic method of using business cooperation to extend market reach and market share. It would be a sensible way of overcoming a market weakness. CAL should code share if the economics is right.”

The airline’s future

Stating that CAL is in “full analytics” mode, DiLollo said at last week Tuesday’s news conference, that the airline is looking at the data, understanding the opportunities and exploring how “best to utilise our ltd resources,” to have new accomplishments. He has been chief executive since May 2014.

He added that it costs money every time the airline starts a new route since there is always a risk associated with starting that route.

“In the priority of network (development) we’re constantly looking at which are the best opportunities for us. It’s a mix of risk/reward and we have to convince ourselves that this risk/reward equation makes sense in the socio-economic priority envelope that the shareholder ultimately provides to us. Will we look at it? Can we look at it? Could it be considered? The answer to that is absolutely, it could be, however we are far from making decisions on that particular route (Georgetown to Jamaica) to date.”

Referring to competition, he said if CAL does not match its competition it will start becoming “irrelevant.”

“Our idea is not just to keep pace but it’s to advance, understanding our customer, understanding what they want, understanding their very critical values that they have especially customers that are in the (Caribbean) region-everything from the experience, to food, to drink, to what they are looking for.”

Asked to quantify relevant, he said: “Return on investment is by far leaps and bounds ahead of what the pure economics will show you. It is difficult to quantify relevance, you have to be relevant, so for the very least you have to get there and then you have to invest to be better.”

Jet Blue

In May 2014, low-cost carrier,  Jet Blue started flying the New York to Port-of-Spain route and Ft, Lauderdale to Port-of-Spain route. This means that CAL’s competition on those two routes increased. Asked about CAL’s Ft Lauderdale to Port-of-Spain route, DiLollo said it continued to be “fiercely competitive,” even though Jet Blue has moved away from being a pure low-cost carrier. 

“They (Jet Blue) would have high density seating in their air craft, they will maximize the benefit by unit to their operation. Jet Blue is now introducing a business service so they are migrating away from that low-cost carrier philosophy. They are at a specific size where they are very smart. They are very large, they are very well funded and they pick their time to be doing that. It is a fierce competitor.”

Describing Jet Blue’s ticket pricing as “aggressive,” DiLollo said the airline may be under pricing its tickets in order to capture market share.

“We know that they are under cutting, even costs, to get into market and acquire share from time to time, every airline pretty much does that, it’s become common. Companies go in with extremely aggressive pricing initially, then as customer acquisition becomes more prominent then they lever up. Caribbean Airlines has been mindful of that. We’re there, we’re fighting and we’re fighting with the tools we have. We intend to fight very hard the next coming year. Obviously more competition on a specific route puts strain and stress on yield,” he said.

DiLollo said CAL is offering different incentives to customers also helps to gain ground on that route.

“Our customers have a different experience on board our aircraft as opposed to theirs. Our loyalty programmes that are going to be kicking in with the new Amadeus Passenger Service System very different, earning and burning points will be different. Customers that are in the Caribbean will only want to go to Fort Lauderdale they may want to do other things which some of the other competition can’t do,” he said.

Leadership

DiLollo—who took up his appointment as chief executive on May 19, 2014—was criticized by former BWIA chief executive Conrad Aleong and others for the salary he received as chief executive. Commenting, he said his reputation surpassed any headline. He admitted that he was concerned about the headlines but was never deterred from achieving his goals for the airline.

“I am always very proud of my previous employer relationships. In fact, they are very solid. There are letters of recommendations all over the place. I don’t know who is writing what and on what premise. It’s unfounded and it does not deter me. It bothers me a little bit when you are hearing negative things about yourself but you understand that other people have other agendas, or they have been misinformed. You just go on with your job. My job is to add value to CAL. That’s why I am here.”

Preparing to hand over the baton of leadership, training and moulding leaders within Caribbean Airlines is one accomplishments he is proud of. 

“The economics of CAL would speak for itself as time goes on. I really hope and pray that the plans that we have deployed really add value here. We see it, it’s happening. It’s moving in the right direction. 

“At the end of it all, I want to identify a great successor for me. Internally, we already have a few potential candidates that show some promise in getting them ready and trained for the position, in ensuring that the future of CAL going forward is solid. I really want to boast that within the next year and a half, that we’ve found a successor. They’re trained up and ready to go so this company can really prosper.”

​“Among the state enterprises, the non-energy sector companies recorded a consolidated operating deficit of $64.9 million. Caribbean Airlines Ltd (CAL) was responsible for the largest operating deficit, amounting to $104.8 million while the National Maintenance, Training and Security Company Ltd (MTS) managed to offset the total operating deficit of non-energy sector companies, with an operating surplus of $135.1 million,” page 46 of the document stated.

Letters of Guarantee according to page 43, note 23, “are issued by the Minister of Finance on behalf of the GORTT to a financial institution in respect of a government guaranteed borrowing by a state enterprise or statutory authority.  It is a precursor to a full government guarantee. Subsequent to the issuance of the Letter of Guarantee, the Ministry of Finance together with the Office of the Attorney General, works with the relevant financial institution, to finalize the full guarantee documents in respect of the borrowing. Once finalized, the guarantee documents are executed by the Minister of Finance and the debt, previously recorded under Letters of Guarantee is now recorded under government guaranteed debt.”

State enterprises according to page 45, note 23, “State enterprises refer to the consolidated operations of 14 companies namely: Caribbean Airlines Ltd (CAL); National Maintenance Training and Security Company (MTS); National Gas Company (NGC); National Helicopter Services Ltd (NHSL); National Infrastructure Development Company (NIDCO); National Quarries Company Ltd (NQCL); National Petroleum Marketing Company (NPMC); Petroleum Company of T&T (Petrotrin); Trinidad and Tobago Mortgage Finance Company (TTMF); Point Lisas Industrial Port Development Company (Plipdeco); Solid Waste Management Company Ltd (SWMCOL); Trinidad Nitrogen Company Ltd (Tringen); Urban Development Corporation of Trinidad and Tobago (Udecott ); and Vehicle Management Corporation of T&T (VmCott) 

The opening of the 2015 hunting season has put wildlife on the run. On Tuesday night a two-year-old anteater ran into the yard  of Cindy Mohammed, of Killdeer Trace, Rio Claro. She put it in a cage and sought help on social media.

Kishan Ramcharan, Forester 1 in the Forestry Division, Ministry of Agriculture, said he came across the request while browsing online later that evening. 

“I observed a post with someone inquiring of a strange species that ventured into their property, I replied informing her that the species is a silky anteater also called poor me one  and that it was a protected species and not listed as a game species under the Conservation of Wildlife Act,” he said.  

Mohammed told Ramcharan that would prefer that the anteater be relocated rather than released in the nearby forests as hunting goes on regularly and she was concerned of its safety. 

Ramcharan said he along with  volunteer conservationists Taariq Ali, Kristopher and Christian Rattansingh, went to Killdeer Trace on Wednesday night. 

There are two species of anteaters in Trinidad. The other is the three toed anteater or matapel. Both have an appetite for ants and small insects and are protected animals. 

Ramcharan said the anteater was taken to an undisclosed wildlife sanctuary.

“In wildlife sanctuaries, hunting is strictly prohibited. The gender was determined to be a male with an average of two to three-years old. The anteater welcomed the new area with enthusiasm only to reach for the highest branch to curl in a ball and sleep comfortably. The ant eater was given the name Marvin and  will also be monitored safely by the Forestry Division,” he said.

Ramcharan urged  members of the public to obey Conservation of Wildlife Act and not poach any protected or endangered species. 

Minister of Agriculture responds

Agriculture Minister Clarence Rambharat said he is having discussions with the Ministry of National Security to fill vacancies for game wardens.

Currently they areeviewing the process for the selection of voluntary game wardens since there were concerns over the recruitment of volunteers. Rambharat said the EMA’s survey of wildlife is partially completed.

“There is a need to undertake a survey exercise on nocturnal animals. I await a final report. In the interim the ministry is working internally on serious outstanding issues relating to game wardens and forest officers. 

“Forestry, including the Wildlife Division, has major staffing issues. We must act on poaching and the killing of protected species but our officers are constrained. We are also in discussions with the hunters on the issue of sustainable hunting,” he said. 

I wish to highlight and bring to the attention of the various stakeholders two concerns in the hope that there would be some form of pro-active response. These two are the upending of containers and the toppling of trees.

All public parks should be under the watch of the Ministry of Agriculture and Forestry. Huge trees should be monitored regularly for dry branches and rotting boles. A tree infested with epiphytes is a danger in the waiting, especially during a downpour. 

Trees deemed unsafe should be cut down. Human safety supersedes environmental concerns. I do not believe I have to remind the reading public of the catastrophe that befell a family recently. May their belief help in easing the pain of that tragic event. 

Trees intended for roadside and median planting must have certain qualities. Some of those qualities are slow growth, tolerant to drought, no conflict with utilities, slender trunks and small crowns.

Another matter, the tilting over of containers, is happening too frequently. As a matter of fact this should not occur at all. I can attest to the speed of some of these vehicles since I was overtaken on the highway  while I was doing 90 km/h. Is it any wonder that those containers would topple if braking is needed suddenly and especially on a bend? Gasparillo is a good example. Think about the chaos that would cause. I get the feeling that these drivers are being paid by the number of trips so for them it’s “get there as fast as possible.”

Apart from careful driving, I noticed another solution. A truck was carrying a similar size container to Galeota but the container was strapped to the trailer with three pieces of cable.  Maybe there is a lesson here for those trucking companies and the Ministry of Transport. 

I believe vigilance is always needed but more so with the approaching yuletide season. The ball is in the court of the relevant people.

Sahadeo Ragoonanan

Indian Walk, Princes Town

T&T has a few serious challenges. They are, reducing criminal activities in our communities, reducing the congestion on the roads, restructuring the economy, restructuring agriculture and restoring dignity to the politics of our land.  

Citizens, however, are very interested in how these can be achieved in the shortest possible time. Reducing criminal activity demands a restructuring of the management of our communities. 

Reduction of the congestion can only be achieved in the short term by getting as many people off the roadway and onto a rail system that is independent of the roads. 

The restructuring of the economy can only be achieved by diversification through a number of different initiatives rather than a few oil and gas-based investments. These ought to include tourism, carnival and pan marketing, large scale production of livestock and targeted crops, manufacturing, marine services and technology based industries.  

Citizens, however, while aware of the macro economic challenges, want to see improvements in their community. The solution is local government reform.

Traditional approaches to local government reform will not work. Regardless of how well-intentioned the initiatives of government, the legislative agenda, infrastructure challenges and constitutional restrictions can make real reform elusive. The solution is to think outside the traditional legislative box.  

Let us first start with the objectives of the new local government structure. Communities ought to be responsible for the maintenance of public buildings (schools, government offices and health facilities). 

They ought to be responsible for the maintenance of street signs, local roads, water distribution and plumbing repairs, road restoration, sewer services, beach maintenance, parking facilities, garbage disposal and recycling, building approvals, land survey, local taxes, environmental management, disaster preparedness, fire services and most importantly security and local justice.  

The legislative agenda and structures needed to make this a reality is enormous and can take a very long time. Citizens, however, want results immediately. 

If something is not done quickly, the population can very likely see a new government elected into office every five years with little or no improvement.

The solution is two steps. First, there needs to be clearly established communities along traditional boundaries. For example, the community of Toco can include, Matelot, Grande Rivere, Sans Souci, Redhead and Rampanalgas. Moruga, for example, can include Basse Terre, Bios Gen Gen, La Ruffin, Grand Chemin, La Lune and Marac. 

These communities, about 80 or so, ought to be the categorised as towns, villages or cities. 

The second step is to establish special purpose companies for the sole purpose of managing the communities until the statutory structures are in place to replace the companies. 

That allows for immediate implementation of the management of the communities as well as an opportunity to tweak the shortcoming of the new structure before the laws are enacted to restructure the governance of our communities.  

God bless our nation.

Steve Alvarez

I was taken aback by the AG’s insinuation that the Las Alturas inquiry did not make sense because $18 million was spent in pursuit of a possible $26 million. Surely the value of the inquiry to T&T far exceeds the $26 million being sought.  In this age of knowledge, the findings of this inquiry can provide the basis for more stringent regulations and increased enforcement strategies that can serve to improve the quality of structural practice in this country.

These improvements can therefore make buildings safer for the population, and prevent wastage of time, materials and other scarce resources, particularly when these costs must be met by taxpayers. The findings have the potential to expose interlocking entities that place the public at risk. This inquiry must proceed in the interest of the people of T&T.

David Subran

Chaguanas

Carbon monoxide is a colourless, odorless and tasteless gas by nature which can result in sudden illness and death. It is often referred to as the “silent killer.” 

This toxic gas resulted in the death of a family of eight in Maryland, United States. According to an article published by the Mail Online on April 19, 2015, the Todd family died between March 28 and April 6. Mr Todd and his seven children, aged six to 15 were poisoned in their sleep from carbon monoxide produced by a generator placed in the kitchen to generate heat. The generator was used after their supply of electricity was cut off.

Exposure to this toxic gas can take place in the home, workplace and even in vehicles. The buildup of this toxic gas, not only affects people but also animals that breathe it.

Carbon monoxide is produced when fuels such as wood, coal, gasoline, natural gas, oil and propane are burnt. Sources that are likely to produce carbon monoxide from using such fuels may include vehicles, powerboats, charcoal grills, gas appliances, machines, ovens and generators.

The danger is magnified when combustion products are not properly ventilated such as in cars, trucks or other types of engines that are left running in enclosed spaces such as garages. Even sitting in an idling car in an open garage or swimming behind an idling boat can be dangerous. Dangerous levels of carbon monoxide can also build up inside houses and buildings from fuel-burning appliances which are not properly installed or used.

According to the Center for Disease Control and Prevention (CDC), statistics reveal that nearly 400 Americans die from unintentional carbon monoxide poisoning each year while Statistics Canada reported 380 accidental deaths between 2000 and 2009. 

Carbon monoxide is deadly because there are no obvious signs it may be building up in the immediate environment. It is invisible and once it is inhaled, it is quickly absorbed and combines with the blood to produce a compound called carboxyhemoglobin, which reduces the ability of blood to carry oxygen. Without oxygen, body tissues and cells cannot function, hence the brain, heart and other vital organs are deprived.

Large amounts of carbon monoxide can overcome a person in minutes without warning, resulting in unconsciousness and suffocation. Symptoms from carbon monoxide poisoning are often described as flu-like. Most common symptoms include headache, dizziness, weakness, upset stomach, vomiting, chest pain, and confusion. During prolonged or high exposures, symptoms may worsen and include vomiting, confusion witha a tendency to collapse, in addition to loss of consciousness and muscular weakness.

Everyone is at risk for carbon monoxide poisoning. However, poisoning may occur sooner in those most susceptible such as infants, the elderly and people with heart or lung diseases as well as those who are anemic. Individuals who are sleeping or intoxicated can also die from carbon monoxide poisoning before displaying any symptoms.

People in certain occupations and working environments are also vulnerable to carbon monoxide poisoning. Work environments such as breweries, petroleum refineries, warehouses, boiler rooms, around docks, steel production as well as pulp and paper production can produce harmful levels of carbon monoxide. People in the following line of occupations are also prone to high levels of carbon monoxide: welders, firefighters, forklift operators, marine terminal workers, parking lot attendants, police officers, garage mechanics, customs inspectors, diesel engine operators and taxi drivers.

The best way to control carbon monoxide exposure is to remove it entirely from the immediate environment. However, added precautions can also be taken to help prevent carbon monoxide poisoning especially in the home and from motor vehicles:

How to prevent carbon monoxide poisoning in the home?

1. Carbon monoxide detectors can be installed in the home, preferably outside of all the sleeping areas. These devices can and do save lives. 

2. Ventilation systems are another effective means of eliminating carbon monoxide from the home. This is particularly important with the presence of gas appliances as well as water heaters. 

3. Ensure that heating systems, water heater and any other gas, oil, or coal-burning appliances are serviced yearly by a qualified technician. Ranges or ovens for heating can also cause a buildup of carbon monoxide within the homes. 

4. Generators should not be used inside of the home, garage or less than 20 feet from any window, door or vent.

How to prevent Carbon Monoxide poisoning from vehicles?

Exhaust emissions from vehicles are a major source of carbon monoxide. A small leak in the exhaust system can lead to a buildup of carbon monoxide inside of a vehicle. 

1. Have the exhaust system of your vehicle checked by a mechanic on a yearly basis. 

2. Never let your vehicle engine run inside of a garage that is attached to a house with a closed garage door. 

3. Always ensure doors are open to allow the circulation of fresh air at all times.

Carbon monoxide kills, hence knowledge, awareness and prevention is the key to this silent killer.

Richard Smith, MSc, 

Lecturer, CISPS

PNM behaves in a manner so as to make it appear as if they never ran the country till this year. They ran it for 46 years! After the first 30 years of their leadership the economy was run aground into the hands of the IMF. So while they’re playing innocent bystanders, their policies form the foundation of the country’s brittle economy. 

It was the PNM’s myopic vision 2020 that they used as license to spend out the country’s second energy boom profits from the mid to late 2000s, on white elephants to feed egos, like tall buildings budgeted at inflated prices. 

So they’re very dishonest to point fingers at the PP for the economy when they ran the economy for 46 years. 

They have rookie politicians on board who are repeating the same failed decisions as their predecessors.

We would not have this large budget deficit if the lazy finance and company regulators appointed under the PNM between 2001 and 2010 were vigilant and diligent in their fiduciary duties.

PNM will not admit they were asleep at the governance wheel when Clico, BA and CMMB were failing. And that it is their lack of vigilance and their indifference that engineered the transfer of billions of taxpayers’ money to bailout Clico and its affiliate companies.

So it is a perverse departure from truth to imply the country is facing finance problems because citizens were lazy or greedy. Or to imply that the country is facing finance problems because of events strictly from the PP’s five years or governance. 

T&T’s latest finance problems is by virtue of financial regulations and degraded monitoring of companies during PNM’s 2000 to 2010 stint in office.

B Joseph

What is now in the public domain suggests that various entities, several of which should be generating revenue, have instead been drawing down on the nation’s resources with little or nothing to show in terms of development.

For more than a week now, the country has been buffeted with revelations of feeding frenzies in several state enterprises. Figures disclosed by various government ministers and other public officials suggest overspending on an industrial scale, thinly masked by over invoicing and other accounting tricks, which have put a severe strain on the public purse.

What is now in the public domain suggests that various entities, several of which should be generating revenue, have instead been drawing down on the nation’s resources with little or nothing to show in terms of development.

There is, for example, the situation at state-owned energy company Petrotrin. Newly appointed chairman Andrew Jupiter warned on Wednesday that the company spends much more than it earns and, should that trend continue, the company may soon go out of business. 

Petrotrin’s debt—currently estimated at $13.28 billion, with a US$850 million ($5.4 billion) bond maturing in 2019—suggests that the company, now operating in a global environment of low and volatile oil prices, has very little chance of achieving a healthy cash-flow situation, or generating any measure of profitability in the foreseeable future.

CEO of financially troubled Caribbean Airline (CAL), Michael DiLollo recently confirmed that the airline was still in a loss-making position. This comes as no surprise since earlier this year, then finance minister Larry Howai had said that unaudited accounts for last year showed that CAL made a loss of US$60 million, even as it continued to get millions of dollars in state support. Budget documents show that the airline received a letter of guarantee for a US$75 million loan, as well as a transfer of $216.4 million during the 2015 fiscal year but continues to show an operating deficit of $104.8 million inclusive of its Air Jamaica operations.  The airline plans to break even by 2017. 

There are many other cases of waste, inefficiency and exploitation, such as the Education Facilities Company (EFCL), the special purposes state company set up to build and repair schools, which owes some $600 million to contractors. 

Word is that the Water and Sewerage Authority (WASA) continues to fail at providing a consistent supply of water to many parts of the country but has managed to chalk up a massive debt and is currently strapped for funds.

The situation isn’t much better at the Tourism Development Company (TDC), state-run media house CNMG, and a host of other companies that have been sucking up funds with little to show to justify any of the massive expenditure that has been reportedly taking place.

What all these scenarios underscore is the woeful absence of checks and balances to safeguard against large-scale siphoning off of taxpayers’ dollars, a total lack of transparency and disregard for efficiency.

That this has been allowed to take place just when energy prices are on the decline only adds to the severe injury being inflicted on the T&T economy. It appears that high energy prices masked many ills among state-owned enterprises.

Government must make it a high priority to review systems and policies to mitigate the continuous losses by ensuring that those companies are run as tightly as possible. 

Given the economic circumstances that the country faces, it is clear that it falls to the current administration to make some tough decisions that may include shutting down or divesting some of these revenue-draining entities. 

In cases where the provision of the service is an absolute necessity—such as water and electricity utilities and the inter-island ferry service—the Government could consider increasing the tariffs charged in order to reduce the losses.