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The OWTU and Petrotrin meet for one last time in conciliation talks. A former energy minister says it’s not a good time for a strike

The OWTU and Petrotrin meet for one last time in conciliation talks. A former energy minister says it’s not a good time for a strike

Former Minister of Energy Kevin Ramnarine

Former Minister of Energy Kevin Ramnarine

A strike by Petrotrin workers is not in the best interest of Trinidad and Tobago or the Company.

This according to Former Minister of Energy Kevin Ramnarine.
He maintains that presently, the Company is in a very fragile financial position and a strike would only exacerbate the situation.
He made the comments during an interview on the Power Breakfast Show here on Power 102.1 FM this morning.

 

Petrotrin staff

Petrotrin staff

Mr. Ramnarine said Petrotrin’s revenue has gone from $29 billion in 2014 to $16 billion in 2016 which represents a 50 percent decline.

The former minister explained that this is mainly as a result of the global fall in oil prices.
He also disclosed that the Company would have to borrow money if it were to accede to the demands of the OWTU on behalf of the workers, which he said would make very little business sense.
He added that the Company would also have to obtain a guarantee from the Finance Minister if it were to seek a loan to pay workers, something Ramnarine stated that would not be pleasing to the Energy Minister since it would add to the debt stock of Trinidad and Tobago.
He also maintained that a strike would be difficult on the workers as well.
Mr. Ramnarine noted that while strike action by the workers would have some impact on the country, there are several contingency measures that would help ensure that fuel is delivered to consumers.

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