00:00The Prime Minister has announced plans to divest the Hilton, Trinidad and Conference Centre
00:04and Magdalena Grand Beach and Golf Resort in Tobago,
00:08leading one trade union to express concerns for the employees at the Hilton.
00:13The government's new divestment plans also involve the Libre Industrial Estate and quarrying operations.
00:19Jill Brown reports.
00:21Chief Secretary, when you mentioned, you made a point and I totally agree with you,
00:27that the business of government is not in running hotels, not in running hotels.
00:34Prime Minister Kamala Passat was just referring to a point made by the Chief Secretary of the Tobago House of
00:39Assembly
00:40during the short-term ceremony for the proposed Marriott Hotel development in Tobago
00:44before a major change in government policy regarding the state's investment in a hotel in Tobago and one in Trinidad
00:52was announced.
00:53This is why private sector investment is vital.
00:57I advise a government-run a hotel and that is why we put out expressions of interest RFP shortly
01:04to divest the Magdalena Hotel from the government.
01:09We also intend to do a divestment process for the Hilton Hotel.
01:15In response, the Secretary General of the Communications Workers Union said in a statement
01:19with regard to the Hilton Trinidad and Conference Centre, quote,
01:23any proposed sale must or at least be accompanied by full disclosure, genuine engagement with the recognized majority union
01:31and enforceable guarantees protecting workers' rights and interests.
01:36The CWU maintains that investment must not come at the expense of job security, workers' dignity or industrial stability, end
01:46quote.
01:46Last month, state-owned ETEC announced that under a share purchase agreement,
01:51it acquired all of the issued and outstanding shares of Hilton International Trinidad Limited,
01:56which had been renamed Hotel TT Asset Management Company Limited, a wholly-owned subsidiary of ETEC.
02:03Prime Minister Passat-Blessessa said there's great interest in foreign direct investment in the local economy
02:09as she referred to comments she said were made by one investor during a recent meeting.
02:14The gentleman said to me, no, most things that the government invest in, they bust.
02:21True or not true, look at Magdalena today.
02:24Why is the government running a hotel and running it to dust, dump to the ground?
02:31And that is not the only thing they'll be looking to like.
02:33Mention was then made of state-owned Labre Industrial Development Company Limited, Labedco.
02:39So we're looking to divest, as I said, the Magdalena, the Hilton, to divest national quarries.
02:46And I'm also looking to divest, so you know, any person interested, I want to divest, we want to divest,
02:53Labedco.
02:55Why are we running that? Again, running it to dust, to bust.
02:58So talk to your friends, your families, private sector investments.
03:04A government cannot succeed by spending all the money, creating businesses, creating entities, and then dust the bus.
03:13State-owned National Quarries Company Limited, according to its website,
03:16was established to supply high-quality, low-cost aggregate materials for Trinidad and Tobago's construction industry.
03:24So we're looking at the hotels, we're looking for divest, we're looking for partners.
03:28I'm looking to divest national quarries.
03:31I'll tell you why.
03:34Government running national quarries to dust, to the ground.
03:38So they prepare, what is it called, Mourila? Aggregates?
03:43Yes, so they prepare this aggregate.
03:45It costs them $350, but then they're selling it for $150.
03:51That doesn't make any sense. It just doesn't make any sense.
03:56The Prime Minister said the divestment RFP's request for proposals will commence in the new fiscal year.
04:03Jewel Brown, TV6 News.
04:06Prime Minister Kamala Passat-Bissessa says the government is moving ahead with plans to divest Hilton, Trinidad, Magdalena Ground,
04:13Caradoc, and National Quarries, while Labedco remains under consideration.
04:18While the announcement was made on Tuesday, at that point, Caradoc was not mentioned.
04:23The Prime Minister says work is already underway to begin the divestment process, with RFPs to be sent out shortly.
04:30Asked why the government intends to sell these entities but retain the Guaracara refinery,
04:35Ms. Passat-Bissessa says the refinery serves a different strategic purpose.
04:39She said, quote, refineries directly connected to our energy security and national security priorities.
04:46The others for sale are not, end quote.
04:49You're watching the TV6 News. We'll be back after this break.
