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Finance Minister Colm Imbert’s multi-plank balancing act leaves the economy with no good options even if some are less worse than others.

A glaring example is in the market for foreign exchange where competition between the Government and the private sector is fuelling an ever-widening parallel market between the ­formal and informal.

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Patriotic Energies and Technologies Co Ltd has been given another 15 days to come up with up with the US$500 million for the former Petrotrin …

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The former Petrotrin refinery is on the market again.

For the second time in three months, the Government has rejec­ted an offer by Patriotic Energies and Technologies, the company owned by the Oilfields Workers’ Trade Union (OWTU), to acquire the Pointe-a-Pierre based refinery.

It follows 14 months of negotiations between both parties, with the liens (debt) of the assets being the sticking point.

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Finance Minister Colm Imbert said yesterday that “most of the teething problems” associated with the rollout of the Asycuda Version Four 2.2.4 system have been resolved.

There had been complaints from shipping companies that the new system, meant to improve the process by which cargo is cleared at Customs and Excise, had instead crippled the process.

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Minister of Finance, Colm Imbert, borrowed a total of $19.5 million from Scotiabank T&T to buy the land at Picton Street in Newtown and construct the controversial multi-family condominiums in the complex, which is close to completion.

Located at 61-65 Picton Street, the development, which is called Allora, has six floors and 20 three-bedroom, 2.5 bathroom condominiums, which were sold for $2.75 million (about US$400,000). The minister’s development is expected to generate revenue of $55 million.