Approximately 400,000 households in T&T, expected to begin paying property taxes this year, will raise around $500 million in revenue for the Government.
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UNC defends filing legal action
The United National Congress (UNC) yesterday defended its decision to initiate legal proceedings against former Petrotrin executive president Malcolm Jones for the company’s failed gas to liquid plant.
In a press release yesterday evening in response to a press conference held by Attorney General Faris Al-Rawi earlier, the party stated its decision was based on “sound, clear and competent legal advice” from a Jamaican Queen’s Counsel and local Senior Counsel.
“We were advised that there was a viable case to pursue against Mr Jones for the loss of over $1.2 billion as a result of the failed GTL project.
“The loss thereby sustained paralysed Petrotrin and crippled its business development projects, leaving a gaping hole in its balance sheet. Petrotrin was eventually forced to sell the plant as scrap-iron without a single cent returned on its investment,” the release stated.
The Opposition party also called on Al-Rawi to disclose his position in all other corruption cases before the court.
“Al-Rawi should also come clean and tell the nation whether he intends to adopt a similar course in the remaining cases against Calder Hart and the Ken Julien-led board of E-Teck.
“The E-Teck case is in fact before the Privy Council after the PP Government won the matter in both the High Court and Court of Appeal,” the release added.