State-owned Paria Fuel Trading Company Ltd financial difficulties were expressed on a letter sent to the Finance Minister Colm Imbert on September 6, 2022, by its chairman, Newman George.
In a Trinidad Express report, the letter claima that George requested the Finance Ministry’s intervention to save Paria from financial difficulties.
This by either settling an outstanding subsidy owed to the company, in the sum of TT$860 million, as the company was allegedly owing over TT$100 million in taxes.
The article further states that Paria’s Chairman was thankful to receive a subsidy payment of TT$500 million in August, but was concerned that the company had more problems brewing.
Newman George also reportedly claimed that Paria Fuel Trading Company Ltd had to reduce its supply to the regional market to ensure T&T had a fuel supply.