A Government Bill to amend the T&T Postal Corporation Act to enable 47 state properties to be vested in the Postal Service was shot down yesterday by Opposition and Independent Senators in the Upper House. Minister of Public Utilities Senator Emmanuel George, presenting the bill, said the properties, worth some $56 million, would increase the assets of the service.
It will also see a reduction in rent since the Government paid $260,000 monthly for 22 postal service properties, he said. Opposition Senator Faris Al-Rawi said he could not support the legislation and called for a revision of the policy. He questioned the valuation of the properties, wondering how after 13 years their value could have been increased by only $4 million.
Al-Rawi recalled that it was former public utilities Minister Ganga Singh, who brought the same amendment bill to Parliament during the UNC's term in office. He said for transparency purposes Members should receive a copy of the valuation of the properties to be vested in the postal service. The Senator said it appeared that the Government's intention was to give corporate authority to the board of the postal service and make it an autonomous commercial entity.
No business plan was presented by George, however, he noted. Further, it was being projected that the requirements of the Central Tenders Board does not apply in the vesting of the properties, Al-Rawi said. Independent Senator Elton Prescott said the bill had come out of nowhere and nothing the minister said showed a need for expeditious action on the legislation.
Prescott listed some difficulties he had with the bill. To begin with, he wanted to know what prompted the legislation. "I am inviting the Minister to satisfy us about the reason for coming here today (with the Bill)," he said. Even more slightly troubling was that 56 properties were to be originally vested but Cabinet approved only 47, he said.
Prescott wanted to know why the remaining nine were not vested and what is their value. He asked George to list all 56 properties and their individual values.