THE OPPOSITION United National Congress (UNC) intended to damage the Unit Trust Corporation with its proposal to use its idle cash balances for the National Infrastructure Fund, Works and Transport Minister Rohan Sinanan said yesterday.
“Remember how they spent on infrastructure? What is suppose to cost $1,000 costs $3,000. What was supposed to cost $250 million, like the Curepe Interchange, cost them close to $500 million. So in other words you would be paying two and three times the cost for infrastructure and they going to be taking your Unit Trust savings to put into that,” he said.
“I was told today that there were some people who had been thinking about taking out their money from UTC, holding it and putting it back in when the PNM wins on Monday. But there is no need for that as we are going to win the general election. We are going to form the next government and we are not going to interfere with your money,” he said.
Sinanan also questioned his audience about if they remembered what the UNC did to the State-owned National Gas Company (NGC) during its term in office between May 2010 and September 2015.
He said the NGC had $18 billion when the UNC came to office and they spent every cent on projects in which there was no value for money. “Let us not allow them to have the opportunity to damage our financial institutions,” Sinanan said. “Make the right choice. This is a vote for the survival of Trinidad and Tobago, “ he said. “We cannot allow them to create a financial crisis for us. We cannot allow them to come and rape the Treasury,” he said. He said all the hard work which was done to keep the country safe during this pandemic would be undone.
He said the UTC did not have a pool of excess sums lying around, but invested in bonds.
Sinanan said a lot of development had been done in Sangre Grande in the last five years.
He said very soon the Wallerfield to Manzanilla Highway would appear “because a lot of the work is going on behind the scene. And then we start from Sangre Grande Police Station going all the way up to Mayaro”, he said. He said a lot of infrastructure work was done in eastern seaboard as well as other parts of the country.
He said the Valencia to Toco Highway is expected to be completed by the end of 2022. He said the long awaited highway to Sangre Grande was under full construction and the first phase - the Wallerfield to Sangre Grande- should be completed soon. He said a tender is expected to be out by the end of this year for the construction of the Toco Port.