00:00The TT Chamber says it is informed that the local manufacturing sector's usage
00:05of natural gas for business operations is approximately 1.5%
00:10of the total gas production by the National Gas Company, the NGC.
00:15Whilst at the same time, there are well over 100 manufacturers employing
00:20thousands of people and contributing to the Trinidad and Tobago economy.
00:25The TT Chamber issued the statement on Thursday, as the Prime Minister said last week, that
00:30the state-owned NGC cannot take a loss to make privately owned companies
00:35profitable.
00:36The Trinidad and Tobago Manufacturers Association warned that a proposed
00:4076% increase in natural gas prices by the NGC from U.
00:45US$3 to US$5.30 per MMBTU.
00:50could squeeze businesses already burdened by higher electricity costs and shipments.
00:55increasing the risk of broader inflation.
00:58The Prime Minister told the Express
01:00in response to the TTMA that these are some of the same business groups who have repeated
01:05.
01:05and reportedly called for the removal of subsidies.
01:07The TT Chamber said that it is cognizant that
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01:10manufacturers have benefited from natural gas pricing arrangements reflective of the
01:15wider facilitative business environment established many years ago by the state.
01:20in service to economic diversification it added that by way of context
01:25electricity and water subsidies also remain critical to business competitiveness in the local
01:30regional and international landscape the business organization said that they understand
01:35that the government's need to increase its revenue base but it must be taken into consideration.
01:40the impact that the natural gas price increase will have on the end consumer in terms
01:45of increased pricing and the competitiveness of their products.
01:50the chamber also expects that the government will look to increase the productivity
01:55and efficiency of local government and state enterprises so that additional revenues
02:00that accrue to the state for measures such as the natural gas price increase will not
02:05go towards supporting inefficient state and local government agencies.
02:10in this regard the TT chamber believes that serious consideration should be given within a
02:15coordinated framework to policy options such as tiered pricing for natural gas
02:20gas based on consumption levels and industry classification progressive meter
02:25peace justo the additional use which use of the solution.
02:26the заг gia which is probably not want to bring down
02:27low gas pricing and insurance money to make holding on to the street.
02:28in this regard
02:29contact the strict report is for full ups and high pow ë°œpowers asking if not
02:30why the government needs to run money fix and then try to access ​​
02:40their punctuation and are in this regard please reach them to 700 billionaires
02:43so as we can contact the state for fishingbene'sice and the RESEATs from theOpenASA data.
02:48Nancy127-880ello-CA sz disaster reform
02:51at this time, thanks for the official investment of the press
02:51performance the number is contained at this point of the government
02:53pricing should be approached holistically, transparently and through
02:58national dialogue, Julen Brown, TV6 News.
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