A letter discusses the opposition by Leader Kamla Persad-Bissessar against the government’s efforts to lease and revitalize the Pointe-a-Pierre refinery. It highlights the implications of her actions on investor interest and analyzes the favorable transformation of Oando plc, suggesting a clear preference for investor-backed management over potential state control.
In Trinidad and Tobago, a letter sheds light on the escalating dispute surrounding the Pointe-a-Pierre refinery, sparked by a Facebook post. The writer undertook an online investigation, revealing efforts by Opposition Leader Kamla Persad-Bissessar to hinder the government’s leasing initiative aimed at rejuvenating the refinery. Persad-Bissessar recently suggested postponing any lease decisions until after the upcoming elections, a stance the writer finds troubling given past issues associated with state-controlled enterprises in the country.
The letter notes that opposition to the refinery’s lease process dates back to June 2024 when Persad-Bissessar targeted Indian investor Naveen Jindal, alleging unfitness due to purported connections to Venezuela and ongoing corruption in India. Following the backlash from negative media coverage, Jindal withdrew his investment interest, allowing Persad-Bissessar to claim a social victory at Trinidad and Tobago’s expense.
In October 2024, the Finance Minister highlighted the advancement in securing an investor, listing three shortlisted firms: Oando plc, Inca Energy LLC, and CRO Consortium. However, immediately after, local media reported on an ongoing investigation into Oando by the Nigerian SEC, focusing on prior issues from five years prior. Such reporting raised concerns regarding selective coverage, as the media failed to inform about Oando’s recovery and subsequent governance restructuring.
The writer undertook further research into Oando, discovering a significant turnaround over the past three years under new leadership, with growth initiatives including expansion in Angola. Subsequently, investor confidence surged, reflected by substantial increases in Oando’s share prices in 2023 and 2024. Thus, the assessment of Oando is far more favorable than previously depicted by some.
Ultimately, the letter posits a clear choice between a refinery managed by a potentially disruptive political entity and one operated by a reputable, investor-backed company. The writer encourages readers to investigate and form their own opinions on this pivotal issue, underscoring the necessity of informed public discourse.
The ongoing debates surrounding the Pointe-a-Pierre refinery in Trinidad and Tobago are underscored by political maneuvering and media representation. Opposition Leader Kamla Persad-Bissessar’s attempts to delay the leasing process raise concern, particularly given the successful turnaround of firms like Oando. The decision about the refinery’s future management ultimately rests on the ability of citizens to discern and weigh the merits of investing in competent, private sector entities versus governmental control.
Original Source: newsday.co.tt
