Tag Archive for 'NGC'

Cooked books

Newsday Editorial
Friday, May 13 2016 – newsday.co.tt

THE BOOKS have been cooked.

TheftRecent disclosures to Parliament have led us to conclude that the State’s financial accounting is seriously flawed. The books have been rendered defective through suspect accounting practices, gaps in oversight of revenue, and the use of tactics that have the effect of masking shortfalls. The result? A distorted picture. A Budget statement every year, yet no true accountability.
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Imbert: PP raided NGC of $14b cash

…Used Green and Unemployment Funds as collateral

By Richard Lord
December 05, 2015 – guardian.co.tt

Colm ImbertFinance Minister Colm Imbert says the former PP government raided the National Gas Company (NGC) of almost $14 billion in cash. He made the claim while presenting three motions for debate in the House of Representatives yesterday.

The motions seek to increase the ceiling for government borrowing by $50 billion under the Development Loans Act, External Loans Act and the Guarantee of Loans (Companies) Act.
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SIS’ billion dollar contract terminated by NGC

Daily Express
November 24, 2015 – trinidadexpress.com

NGCThe National Gas Company of Trinidad and Tobago Limited (NGC) has terminated its contract with Super Industrial Services Limited (SIS) for the construction of the $1 billion Beetham Water Recycling Plant. The decision was taken after SIS said it was unable to continue with the controversial project.

The following is the statement issued by the NGC on Tuesday –
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NGC pays $700 million to SIS

…for Beetham water recycling plant Only 45 % complete…

By Asha Javeed
March 30, 2015 – trinidadexpress.com

Raffique ShahDespite the project being only 45 per cent complete, National Gas Company (NGC) has already paid Super Industrial Services (SIS) close to $700 million (70 per cent of the cost) for the Design & Build and Operation & Maintenance of the Beetham Water Recycling Plant.

In March 2014, NGC awarded the billion-dollar contract to a consortium led by Super Industrial Services and its two sub-contractors, Foster Wheeler and Hyflux, for US$167 million (about TT$1 billion).
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