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We need to work together for positive path to Petrotrin's recovery -T&T Chamber CEO


By Rapheal John-Lall

Petroleumworld 07 24 2018

T&T Chamber CEO Gabriel Faria has appealed to stakeholders involved in returning state-owned Petrotrin to financial health to work together for the good of the energy company and the country as a whole.

“At a time when everyone should recognise how critical it is that an organisation like Petrotrin have all parties working together to come to a solution, we again find ourselves in confrontation rather than working together with a congruence of goals to deal with the significant challenge that Petrotrin is facing in terms of its continued financial performance,” he said.

His comments followed a warning from Oilfield Workers' Trade Union's (OWTU) president-general Ancel Roget that the union would pull out of the National Tripartite Advisory Council because of Government's failure to honour its agreement.

Roget made the threat at the union's 79th Annual Conference of Delegates on Friday, citing the planned retrenchment of 2,000 Petrotrin workers and the performance of the company's chairman Wilfred Espinet as points of contention.

However, Faria said the labour movement should be more progressive in how it handles its input in Petrotrin's restructuring.

“At a time like this when so many of our citizens and businesses are making sacrifices we all need to work together for us to get the economy on a positive path to recovery,” he said.

Faria said he recently spoke to Caribbean Airline's CEO Garvin Madera told him the airline's performance had turned around because it was made to operate as a commercial entity.

“By having a much stronger commercial focus, the airline for the first half of the year has shown reasonable improvement in its financial performance, even with the increased cost of energy. I am happy to see that bringing in strong private sector competence into an organisation like CAL is able to see positive impact in its operating results,” he said.

Faria said this an example for Petrotrin to follow.

“The only sustainable solution to any organisation is to be run from a commercial perspective where it creates value for its customers and rewards its employees based on delivering that value. The era of jobs for the boys and salary payments that are not in keeping with what is commercially viable cannot be sustained in the current economic environment,” he said.


Story by Rapheal John-Lall from Trinidad & Tobago Guardian.
07 24 2018

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