00:00The former Trade Minister tells the Morning Edition the primary responsibility of any
00:05government is to ensure a decent quality of life for its people through effective services
00:11and sound policy.
00:13However, based on the current trajectory, Bharath does not believe that objective is
00:18being met.
00:20He points to the mass dismissals from programs such as URP, CPEP and other state agencies
00:26following the government's assumption of office.
00:29Bharath recalls that before the election, Mrs. Basad Bisasa made bold promises about
00:35governance and economic relief.
00:37While he believes the population was eager for change after 10 years under the PNM, he
00:43says he was shocked by the actions taken once the new administration assumed power.
00:49I was shocked that the attack came at the most vulnerable in our society, CPEP and URP
00:58workers.
00:59And what was worse was that the number of people making up this grouping is so significant
01:07that it affects the social fabric of the country.
01:10We're talking about thousands of people that live basically on a day-to-day basis.
01:15They wait for their weekly and their fortnightly check.
01:20Bharath also criticizes what he describes as attacks on the TTMA, warning that the government's
01:27posture is driving away local and foreign investors.
01:31Just up to last week, I heard a junior minister in the Ministry of Housing calling the manufacturing
01:37sector, the TTMA, scoundrels.
01:39Right?
01:40So, when you lay that platform on the one hand where you continue to abuse the private
01:48sector, who you now are going cap in hand to say, please come and invest in your revitalization
01:55plan, I think you're going to find that there is a level of reluctance and reticence because
02:01people are not sure what's going to happen next.
02:05He further raises concern about the recent increase in NGC gas prices, saying the government
02:12failed to properly consult stakeholders before imposing what he describes as high costs without
02:18fully appreciating the economic repercussions.
02:21And people from the outside look at all of these things as signals, okay?
02:30And therein lies the problem.
02:32The people who are running the show currently do not understand the consequences of their
02:38actions.
02:39But you know...
02:39And they don't understand the consequences.
02:41I mean, they don't understand the consequences because many of them have never worked in the
02:45real world.
02:45On public finance, Bharath questions the government's decision to refinance a $1 billion U.S. loan
02:52at a higher interest rate.
02:54He explains that while previous bonds were secured at 4.5%, the new bond was issued at 6.5%.
03:02The government was boasting that this showed confidence in the local economy, but quite the
03:07reverse.
03:08The reality is, the further away you are from the 4% benchmark of U.S. Treasuries, the higher
03:14risk your country is being is perceived.
03:18So at 6.5%, just to give you an example, over that 10-year period, right, this country is
03:26going to pay an additional $1.36 billion in interest.
03:32He also flagged ongoing tensions with the labor movement over the unresolved 10% wage negotiations,
03:40warning that constant conflict between government and unions poses a serious threat to national
03:47stability.
03:48Nicole M. Romany, TV6 News.
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