Patriotic Energies submission still being evaluated

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Patriotic Energies submission still being evaluated

Minister of Finance, Colm Imbert, says the Evaluation Team is still reviewing the submission from Patriotic Energies and Technologies Company on the payment of five hundred million US dollars for the acquisition of the Petrotrin refinery.

In January the government gave an additional 15 days to Patriotic Energies to commit to pay for the Pointe-a-Pierre refinery.

In a letter to Minister Imbert on January 18th,  Patriotic Energies said the company in its conversation with Credit Suisse, expressed enthusiasm and confidence in its capacity to successfully finance the acquisition price for Patriotic.

At a news briefing this afternoon, Minister Imbert responded to a question from a reporter on the selling of state assets. 

On another matter, Minister Imbert said the impact of COVID-19 has adversely affected projected revenue income in several areas of the economy.

Minister Imbert said the situation has forced the government to do additional borrowing and make withdrawals from the Heritage and Stabilization Fund.

Source: News Power Now/Power102.1fm