Tag: NGC

The 2016 Budget Review – Crisis…what crisis?

11 April 2016

Introduction

On the 8th April 2016 the Minister of Finance presented his 2016 Mid-Year Budget Review. In this blog entry we explore the main contents of that presentation and the implications for Trinidad and Tobago and its citizens.

Why is there a need for a Supplemental Budget?

The first question to address is perhaps why is there a need for a supplemental budget in the first place? The answer to that question can be found in a number of places within the Ministers presentation and can be summarised as follows:

  • The Government is seeking a variation of appropriations arising as a result of portfolio changes in Ministries and adjustment to Ministry budgets.
  • The 2016 National Budget was presented on the 5th October 2015 less than one month after the new Government entered office.
  • The Government traditionally presents a review of the economic developments in the first half of the fiscal year (although it doesn’t usually make as many significant adjustments to the national budget as this supplemental budget will make.
  • The government needed to identify the policy changes required to meet its medium term economic objectives.
  • The economic environment Trinidad and Tobago finds herself in has turned out to be significantly worse than the situation that was originally envisaged at the time the national budget for FY2016 was presented on the 5th October 2015.
  • The Government considered that very serious and corrective action needed to be taken “immediately lest we find ourselves in such dire straits that we would have no choice but to request the IMF for balance of payment support.”

Read more…

In T&T: Dormant fund gets $24m kick-start. Designed to assist firms in oil, gas industry…

6 July 2012

Energy sector’s SME players to receive assistance as “NGC will continue its efforts to increase the percentage of local content.”

A fund which has been dormant for several years and was designed to help small firms in the oil and gas industry is getting a kick-start.

National Gas Company president Indar Maharaj announced yesterday that $24 million in the fund which has been “dormant for several years will now be available to assist small companies involved in the energy sector”. Read more…

The Weekly Report: Spotlight on NGCTT – Familiar Name, Undervalued Bond

1 May 2012

Rated one rung higher on the bond totem pole than the Kingdom of Spain by Standard & Poors, the bond for the National Gas Company of Trinidad & Tobago (NGCTT) is priced below par and is comparatively liquid when compared to other Caribbean corporates.

NGCTT enjoys being one of the few efficiently run and profitable state enterprises in T&T and I dare say throughout the Caribbean. If you haven’t yet thought of it as a likely candidate for your portfolio, here are a few reasons to give it a first (or second) look. Read more…