Government will not adjust the subsidy cushioning the price of diesel.
Addressing members of the Trinidad Union Club at a luncheon at the Kapok Hotel in Cascade this afternoon, Finance Minister, Colm Imbert, placated concerns that an adjustment in the price of diesel, which costs TT$3.41 per litre, would affect the price of goods.
Imbert said rolling back the fuel subsidy to raise the price of diesel would have a knock-on effect on the price of goods and services.
The minister said he is heartened by the level of natural gas production for the year so far, which stands at 3.96 billion standard cubic feet.
He said the volume may increase to 4.2 billion cubic feet later this year.
Over the next six months, Government will go on a fundraising push to secure enough money to begin settling VAT refund arrears, which Imbert says stand at approximately $4.6 billion.