1 week ago
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The Central Bank of Trinidad and Tobago has met with representatives of the Energy Chamber as part of its ongoing stakeholder engagement series, aimed at deepening dialogue on national economic priorities. The Bank described the session as an opportunity to gain a clearer understanding of industry realities and explore practical, forward-looking solutions.
The meeting follows similar engagements with the Confederation of Regional Business Chambers, the T&T Chamber, and the American Chamber of Commerce of Trinidad and Tobago (AMCHAM).
Governor Larry Howai praised the Chamber as “a leading voice in the energy sector, representing nearly 400 member companies committed to building competitive and sustainable businesses across the nation.”
Energy Chamber President Dr. Thackwray Driver expressed appreciation for the exchange and pledged the organisation’s support for collaborative work with key stakeholders “in the best interest of our country.”
Talks centred on pressing issues for the energy industry, including skilled labour shortages, the supplemental petroleum tax, and VAT refunds. The Chamber outlined a series of reform proposals, among them: restructuring the VAT system, accelerating capital allowances, streamlining approval processes, transitioning the Green Fund into a Carbon Fund, and ensuring greater equity in electricity pricing.
Foreign exchange challenges were also discussed, with suggestions to create a mechanism that would expand investment opportunities for the energy services sector, ultimately boosting foreign exchange reserves.
The Chamber welcomed the Central Bank’s openness and its willingness to engage relevant government ministers on several of the proposals. It also expressed optimism about the sector’s prospects, particularly if its recommendations are implemented—benefiting the upstream, midstream, and downstream segments.
In attendance were the Bank’s Deputy Governor, members of its management team, and Chamber representative Priya Marajh.
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