Category Archives: Finance

Oil and Gas Arithmetic

By Raffique Shah
April 01, 2012

Raffique ShahTHE announcements of two new oil finds over the past two weeks generated excitement among many in the population. “God is a Trini!” screamed the Express headline, quoting the Prime Minister. Such was the importance of Petrotrin’s discovery of 48 million barrels of relatively light crude, it warranted a full house of ministers and top company officials at the Cabinet Media Centre.
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Focus on substance, not fluff

By Raffique Shah
March 17, 2012

Raffique ShahOVER the past two weeks or so, public attention has focused on two issues, with the concomitant raging debates in the media and online. The first surfaced when it was disclosed in Parliament that the State had met expenses for Prime Minsiter Kamla Persad-Bissessar’s sister to accompany her on official visits to Australia, India and elsewhere. The second pertained to Tobago Affairs Minister Vernella Alleyne-Toppin incurring private expenses on a Government-issued credit card that is intended for use by officials when they travel abroad.
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Carnival and Culture

By Dr. Selwyn R. Cudjoe
February 22, 2012

Dr. Selwyn R. CudjoeI was stuck by Michael Narine’s post, “Culture is a ploy for more state money” and Newsday’s headline “Calypso gets $1M.” With that came a justification from Dr. Hollis “Chalkdust” Liverpool: “This is good for calypso. Calypso is the father of all different genres of music, so they must ensure that calypso gets a good prize. All these other genres of music: chutney, soca, they came out of calypso, so it’s only fair that calypsonians get a good prize.” I will not argue with the doctor’s thesis except to say that at the beginning of the 21st century we may have to revise our accepted concepts of the genre, its influences and the musical forms it has spewed.
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OWTU Wanted To Spoil We Carnival

By Stephen Kangal
February 22, 2012

Oilfields WorkersOnce again the people of T&T were under siege and being held to ransom and exploited by unscrupulous unions such as OWTU and SWWTU – formerly Branch No.1 of the PNM. The former attempted to endanger the socio-economic success of the Carnival by giving notice of calling a strike to deprive us of petrol/diesel to begin on Carnival Saturday. The SWWTU did the same during the busy Xmas season by closing the port.
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From blimp to ‘battimamselle’

By Raffique Shah
February 05, 2012

Raffique ShahSHORTLY after the PNM government acquired the second or third sky ship (“blimp”) a few years ago, a well-informed patriotic national who resides in the US asked me why they did not consider new surveillance technology like remote-controlled drones. We had a healthy discussion on the issue. I did not understand, nor could I explain, why Martin Joseph and his security advisers opted for the unwieldy “blimp” over the many ultra-modern devices that were then in service from Afghanistan to America.
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Let the tax debate begin

By Raffique Shah
January 29, 2012

Raffique ShahPRESIDENT Barack Obama’s bold move to seek to apply a tax rate of 30 per cent to America’s super-rich should serve as a catalyst of sorts for Finance Minister Winston Dookeran. Dookeran said recently that his ministry would soon review the income tax regime in Trinidad and Tobago. Changes to this country’s income and corporate taxes were last made in 2006. Then, the Patrick Manning government raised the personal allowance for individuals to $60,000, and applied a fixed rate of 25 per cent tax on all chargeable incomes above that.
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Porsche questions

Newsday Editorial
January 23, 2012 – newsday.co.tt

Minister of Food Production, Vasant BharathThere are bound to be questions and indeed raised eyebrows at the purchase of a luxury Porsche Cayenne SUV – with a showroom price tag of $925,000 – for the official use of Minister of Food Production, Vasant Bharath. Bharath defended the purchase by saying the actual price paid – after exemptions for taxes and duties – was about $400,000, which he said was comparable to the cost of other SUVs.
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Fear for our future

By Raffique Shah
January 07, 2012

Raffique ShahWITHIN recent times, I’ve had an uneasy feeling that this country is drifting around aimlessly. I sense that in the economic turbulence that has gripped much of the world, we have let go of the rudder of the ship of state, and cast our fate to the wind and the rough seas without even trying to steer a course to safety.
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Crime Pays

By Raffique Shah
November 20, 2011

Raffique ShahTHERE has always been a “disconnect” between what Governments (note plural) say and what they do. The People’s Partnership’s first major policy document since coming to office 18 months ago, the Medium-Term Policy Framework (MTPF), is a comprehensive statement on where Trinidad and Tobago is today, its strengths, weaknesses and potential, and where the Partnership Government wants to take it in three years.
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Inequality Breeds Unrest

By Raffique Shah
November 13, 2011

Raffique ShahAS I watch the “Occupy Wall Street” phenomenon spread its wings of protest across much of the developed world, I cannot help but feel nostalgic.

Those of us who experienced the global rebellion of the 1960s and 1970s must also feel a sense of déjà vu, of having been there, done that. I ask myself: is this a generational upheaval that has erupted to complete unfinished business of that golden era of humanism?
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