Government Allegedly Freezes Loans to Fund Salaries

Former Finance Minister Colm Imbert alleges that the government has frozen several government loans, originally intended for state enterprises, to cover employee salaries for the remainder of the fiscal year. Speaking at a public meeting, Imbert detailed how the previous government accessed various loans to fund projects such as the Palo Seco Agricultural Enterprises’ serviced building lots for former Petrotrin workers, worth $200 million. Other loans were intended for the Land Settlement Agency’s housing and village improvement programme, and the Water and Sewerage Authority’s pipeline and pump-replacement projects. The current Persad-Bissessar-led government has frozen these loans, amounting to $1.3 billion in total.