(Trinidad Guardian) Amid T&T’s decreasing oil and gas production, diversification should be pivoted to the maritime sector as the Gulf of Paria is suited for a natural deep-water harbour, says former Energy Minister in the People’s Partnership Kevin Ramnarine.
Ramnarine said this at Monday’s UNC Budget consultations in Caroni Central. He was among the panellists including MP Arnold Ram, agriculturist Donny Rogers and MP David Lee.
Among the challenges facing T&T, Ramnarine said, was a “massive drop in foreign reserves.”
The Government’s answer involved borrowing US dollars and that would lead to a debt crisis for others ahead, he said.
Ramnarine said oil production “is on its way to San Fernando’s Roodal cemetery” with the lowest levels since 1937, and gas is at a 20-year low.
He also said that T&T was sinking in the quicksand of crime.
Ramnarine said if this continued, it would be very difficult to turn back. He said T&T had to increase non-energy exports such as agriculture, manufacturing and diversification to maritime services but had to deal comprehensively with crime if it wanted investment.
He gave Dubai as an example of a country that had diversified into areas other than oil and gas and how it was driven by port and maritime services.
Ramnarine added, “Based on my analysis of the last nine years, there’s tremendous potential to diversify into the maritime services sector because T&T’s most valuable natural resource might not be oil and gas—it might be the Gulf of Paria which is a calm piece of water, for natural deep water harbour.
“That could become the basis for this new maritime economy and in some ways it already is, and we have to continue building on that. That’s where I’d pivot diversification towards,” he said.
He said T&T also needed to become more productive in agriculture and diversification also involved food production but farmers were also affected by crime.
Representative of Preysal Government School, Sarah Ali, pleaded for a school building for students who were currently housed at a community centre.
She said, “It’s almost a decade we’re battling electricity issues, cramped classes. Every term, students have to stay home two weeks as sewer problems need to be fixed, air conditioning needs fixing, there’s no lunch room or cafeteria. Where are funds allocated for schools? What happened to Preysal—don’t we belong? We’ve produced gems for T&T—we’re begging, please, please.”
MP Ram vowed that the priority of a UNC Government would be to complete the school.
Rakjkumar Samsundar said Caroni Central’s roads were terribly dilapidated.
”It’s (fit for) 50 years back when we had donkey carts, not for cars. Please someone, help us here,” he said.