00:00Manufacturers in the country are responsible for the production of various goods in
00:05including essentials such as food, but former Energy Minister Stuart Young notes
00:10that the sector is also responsible for the employment of tens of thousands of people.
00:15He points to the natural gas consumed by this sector which is purchased from NGC
00:20at a subsidized cost, not being a significant amount in the grand scheme of things.
00:25It is important that you understand that the percentage
00:30of natural gas sold by NGC to our manufacturing sector
00:35which does not include the petrochemical plants, ammonia, methanol...
00:40etc., of manufacturers, those who make bread, those who make glass.
00:45those who make cement, those who make all of some of the products.
00:50where they utilize some natural gas, for example, cricks and these types of...
00:55products is less than 1.7%.
01:00of the natural gas sold by NGC.
01:05to these manufacturers.
01:07He is calling the government's decision to impose a...
01:1070% increase in the price of natural gas, an attack on the manufacturing sector.
01:15adding that it could lead to more unemployment.
01:18The Port of Spain North St. Anne...
01:20West MP says prices for light manufacturers were previously negotiated.
01:25with upstream gas suppliers.
01:27So don't come and fool or attempt to fool...
01:30the population.
01:31that you are righting some wrong.
01:33what you are doing is you are no longer...
01:35only destroying the energy sector, but you are now destroying the manufacturing sector.
01:40Young stopped short of calling the move an ambush but says information reaching...
01:45the people's national movement suggests the national gas company failed to negotiate...
01:50new contracts between May and December 31st of 2025.
01:55on the 24th of December, Christmas Eve, NGC wrote...
02:00to those that they supply natural gas to...
02:03some of them...
02:04and told them...
02:05here is a contract...
02:07you have until the 27th...
02:10month of December...
02:11to accept the contract...
02:13or we are going to turn off the gas.
02:15that's bearing in mind that the 25th and 26th were public holidays.
02:20Young indicates that the issue now is compounded by an increase in customs...
02:25my duties...
02:26plans for a hike in industrial electricity rates...
02:29Landloads search...
02:30sure so...
02:30charge and the higher prices of lpg the mp references
02:35message by trinidad cement limited to its customers about a significant increase in
02:40manufacturing costs tcl has spoken out against the natural gas increase
02:45to the manufacturing sector warning customers of an impending increase in pricing
02:50this is also going to affect our foreign exchange earning
02:55because our manufacturers products are going to become less competitive
03:00and it means their cost goes up and when their cost goes up we earn
03:05less foreign exchange young says under the former pnm administration
03:09decision
03:10decisions by tcl to raise prices were made independently of government
03:15while bilateral discussions were ongoing to better manage rising production
03:20costs alicia boucher tv6 news
03:25the
Comments