A highly positioned Unipet executive has broken his silence in the ongoing impasse between the Company (Unipet) and Paria fuel trading company, which has left the company’s operations in as precarious situation. According to the executive who spoke under conditions of anonymity, the Government owes Unipet over 100 million dollars in unpaid VAT refunds and Gas subsidies.
This outstanding figure comprises $74.4 million in gas subsidies and another $59.2 million in VAT (Value Added Tax) refunds—a total of $133.6 million.
The executive said this is part of the reason the Company finds itself in the present situation. He also is hopeful that this situation can be resolved in the interest of saving the jobs of it’s over 600 employees.
The Company is expected to meet with Finance Minister and acting Energy Minister Colm Imbert this week.