One of the major issues facing the country as this recession unfolds is the pressing need to review the State Enterprise sector. A Cabinet-appointed committee, chaired by Dr Terrence Farrell, was established to examine the SOE sector, but we have no idea yet as to their recommendations.
One of the hugest State Enterprises is Petrotrin, a major player in the national economy, with the immense influence of the OWTU on the side of its workers. A great deal of discussion is now emerging on whether or how Petrotrin could be restructured or privatised.
On 9th October 2015, the newly-installed Petrotrin Board issued a Press Release under the rubric “Facing and Overcoming Our Current reality” – the primary challenge was said to be ‘high and increasing debt’. Continue reading “Bond issues”→
This is my 12th April 2016 ‘Morning Brew’ interview with CNC3’s Hema Ramkissoon on the Invaders’ Bay matter…it is also the first time I made public comments on the JCC imbroglio, albeit after a sneaky series of questions from Hema…I guess that’s what crafty interviewers do, eh? As it happens, the questions remain outstanding on both those issues.
Programme Date: 12 April 2016 Programme Length: 00:22:32
This issue examines the long-awaited Public Procurement and Disposal of Public Property Act and makes important points about the central role of the President in its implementation. (Recorded – Saturday 1st October 2016)
The Board of EFCL was reported to have dismissed its CEO after he failed/refused to comply with their directions in a certain matter. There are allegations reported that the Cabinet attempted to direct the EFCL Board, which raises the perennial issue of the nature and extent of Cabinet authority over State Enterprises.
From both the Companies Act and the recent High Court/Appeal Court rulings in the eTECK matter, it seems clear to me that the Board of Directors have fundamental responsibility for the direction and control of the company. That is the legal position, but it seems that our fundamental political culture and conduct is in real conflict with notions of independent professional responsibility.
The State Enterprise sector is once again the subject of public concern on the good governance issues of accountability and transparency. Where does the power lie?
This is my interview on the ‘Essential Public Interests at stake in the Invaders’ Bay development‘ Power 102.1FM’s ‘Power Breakfast‘ on Thursday, 15 December 2016 with Rhoda Bharath and Wendell Stephens.