(Trinidad Express) In an effort to not burden the Trinidad and Tobago consumer who is now faced with a 9.5 per cent increase in the price of cement by Trinidad Cement Ltd, Government plans to approach Caricom for a relief of the 15 per cent duty on cement imported from outside the region.
Bharath said TCL is requesting a waiver from the National Gas Company of its escalation clause for the next eight years. TCL also wants to be reclassified as a middle user which will entitle the company to a lower gas price.
Cabinet has also mandated that Government—particularly the Ministries of Trade and Energy — sits with TCL to look at the possibility of negotiating lower gas prices for the company, “with the proviso that any decrease in the cost of gas would be passed on to the consumer”.
So said Trade Minister Vasant Bharath as he addressed the issue of the increase in cement prices which became effective from Wednesday.
He was speaking yesterday at the post-Cabinet press conference at the Office of the Prime Minister, St Clair.
Bharath said Government wanted to help TCL, which is 80 per cent locally owned, in its efforts to become more productive.