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ACCOUNTING FOR THE RESOURCES 2000 2005

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Title: ACCOUNTING FOR THE RESOURCES 2000 2005


1
ACCOUNTING FOR THE RESOURCES 2000 - 2005
2
Our Trinidad and Tobago Scorecard-
  • Economic Growth
  • Energy Sector
  • Social Sector
  • National Security
  • Infrastructure
  • Housing
  • Education
  • Health
  • Agriculture
  • State Enterprises
  • Tobago

3
The Growth of the Economy
4
Economic Growth
  • Trinidad and Tobago continues to lead with
  • The largest energy and manufacturing sectors in
    the English speaking Caribbean
  • A rapidly emerging financial services sector
  • Non-energy growth 4.7 percent
  • Energy sector growth averaged 13.6 percent
  • Overall the economy grew by an average of
    7.7 since 2000

5
Economic Growth
  • Our economy is one of the fastest growing in the
    Western Hemisphere. In Current GDP we achieved
    the following
  • 2000 51.4 billion
  • 2006 101 billion
  • 2007 112 billion
  • The size of the economy has doubled since 2000

6
Central Government Fiscal OperationsRevenue
Receipts
  • Billions of Dollars
  • 2000 - 12.2
  • 2001 - 14.4
  • 2002 - 14.1
  • 2003 - 17.4
  • 2004 - 20.9
  • 2005 - 29.3

Energy is defined as Oil Companies receipts based
on oil and gas assets. Petrochemical companies
are classified as non energy.
7
Central Government Fiscal OperationsAllocated
Expenditure
  • Billions of Dollars
  • 2000 - 12.5
  • 2001 - 14.0
  • 2002 - 14.2
  • 2003 - 16.6
  • 2004 - 20.7
  • 2005 - 27.3

Note that savings in the RSF is included in
Central Government Expenditure . Note also fixed
costs versus variable costs i.e. transfers.
8
Central Government Fiscal OperationsDetails of
Current Transfers Fiscal 2005/2006 (M)
  • TOTAL CURRENT TRANSFERS 17,533.7
  • Educational Institutions 1,128.5
  • University of the West Indies 677.4
  • University of Trinidad Tobago 93.7
  • Higher Education Loan Programme 102.5
  • Grants to Government Secondary Schools
    100.0
  • Households 5,225.0
  • Public Officers Pensions and Gratuities
    1,254.2
  • Subsidy Re-sale of Petroleum Products 1,322.2
  • Old Age Pensions 1,032.8
  • Social Assistance 268.2
  • Disability Grant 152.0

9
Central Government Fiscal OperationsDetails of
Current Transfers (Contd)Fiscal 2005/2006 (M)
  • Other Transfers 8,579.6
  • Infrastructure Development Fund 3,050.0
  • Revenue Stabilisation Fund 2,462.8
  • Government Assistance for Tuition Expenses
    (GATE) 250.0
  • Regional Health Authorities 1,071.1
  • Community Based Environmental Protection
  • Environment Programme 425.0
  • National Social Development Programme 200.0
  • Petroleum Relief for CARICOM States 375.0

10
Central Government Fiscal Operations Details of
Current Transfers (Contd)Fiscal 2005/2006 (M)
  • Transfers to State Enterprises 1,941.7
  • Caroni (1975) Limited 266.3
  • PowerGen - Equity Investment 321.3
  • National Schools Dietary Services Limited
    200.0
  • Caribbean New Media Group Equity Investment
    61.6
  • BWIA Equity Recapitalization 774.1
  • Loans and Grants 282.4
  • Trinidad and Tobago Electricity Commission
    282.4

11
Central Government Fiscal OperationsResults of
Operations
  • Millions of Dollars
  • Year Revenue Expenditure
    Surplus/Deficit Surplus /Deficit
  • as of Revenue
  • 2000 12,199.4 12,482.7 -283.3
    2.3
  • 2001 14,381.0 13,990.9 390.1
    2.7
  • 2002 14,122.5 14,226.8 -104.3
    0.7
  • 2003 17,366.6 16,591.6
    775.0 4.5
  • 2004 20,885.4 20,673.9
    211.5 1.0
  • 2005 29,286.2 27,274.7
    2,011.5 6.9
  • Central Government recorded its third consecutive
  • fiscal surplus in 2005.

12
Revenue Stabilization Fund (RSF)
  • 1.26 billion was
  • transferred to the RSF during fiscal 2004.
  • 2.59 billion was
  • transferred to the RSF during fiscal 2005.
  • The size of the Fund increased to 5.484 billion
    TT as at December 31, 2005.

13
Central Government Fiscal OperationsForeign
Reserves
Millions of US Dollars
Between 2000 and 2005 Gross Official Reserves
increased by 240.2 percent . The Gross Official
Reserves as at December 31, 2005 represents 9.5
months of import cover.
14
Inflationa challenge of expansion
15
Central Government Fiscal OperationsForeign
Direct Investments
  • Trinidad and Tobagos positive investment
    climate continues to attract significant inflows
    of Foreign Direct Investment
  • Year US Million
  • 2000 680
  • 2001 835
  • 2002 791
  • 2003 808
  • 2004 998
  • 2005 940

16
Central Government Fiscal OperationsPublic Debt
As a percentage of GDP, the nations public debt
stock declined significantly between 2000 and
2005.
GROSS PUBLIC SECTOR DEBT
CENTRAL GOVERNMENT DEBT
International Benchmark - 50
17
Central Government OperationsUnemployment data
  • 2000 - 12.2
  • 2001 - 10.8
  • 2002 - 10.4
  • 2003 - 10.5
  • 2004 - 8.3
  • 2005 - 8.0
  • 2006 - 6.9

Trinidad and Tobago is now close to attaining
full employment and has recorded an unemployment
rate of 6.7 for the October -December 2005
period.
18
CARICOM Single Market and Economy (CSME)
By the end of 2005 Trinidad and Tobago had put
in place most of the requirements for the
implementation of the single market component of
the CSME and was one of the 6 signatory countries
at the official launch of the CARICOM Single
Market on January 1st 2006.
19
  • Inflation
  • 2001 - 5.6
  • 2002 - 4.2
  • 2003 - 3.8
  • 2004 - 3.7
  • 2005 - 6.8

As the rate of economic activity accelerates a
major challenge for Trinidad and Tobago continues
to be the control of inflationary pressures.
Both Government and the Central Bank are
aggressively utilizing policy instruments to
contain increases in the general price level
brought about by a combination of strong external
in-flows, rising public spending and strong
demand pressures.
20
Energy Sectors Contribution to National GDP
21
Energy Taxation Review
  • the establishment of new regimes for the taxation
    of income from oil and gas production including a
    work programme for new exploration activities
    .(completed)
  • Supplemental Petroleum Tax review. (completed)
  • Fair Market Value for Gas contracts as opposed to
    contract price (completed)
  • Review of Production sharing Contracts (under
    consideration)
  • Resulting in more equitable distribution to the
    population of Trinidad and Tobago.
    (Internationally Competitive )

22
Energy Investments
  • - the commissioning of Atlantic LNG Train IV
  • the commissioning of ATLAS Methanol Plant
  • the commissioning of Methanol Holdings (MHTL) -
    M5000 Plant
  • the commissioning Nitrogen 2000 Plant
  • the completion of Phoenix Park Gas Processors
    Limited expansion (PPGPL)

23
2005 CREDIT RATING OIL EXPORTING COUNTRIES
Standard and Poors
Moodys
24
2005 ECONOMIC STATISTICS OFOIL EXPORTING
COUNTRIES
25
(No Transcript)
26
Hydrocarbon Production in Trinidad Tobago
27
Taking care of people
  • A government has a responsibility to look after
    those in our society who are unable or even
    unwilling to look after themselves. Their share
    of the countries resources are normally provided
    based on identified need. Our social safety net
    allocates in excess of 20 to those so affected.
    (Enill 02).

28
Social Sector Investments
The government invested resources to improve the
lives of the following groups of vulnerable
citizens Socially Displaced Persons - A survey
of socially displaced persons was conducted and a
program to relocate the socially displaced
elderly to homes for older persons has begun.
Adolescent Mothers - Counseling, remedial and
continuing education, skills training, child care
training nursery or other services were provided
to 50 young mothers and 50 infants at 6 centres
nationwide. Ex-Prisoners - In conjunction with
the ongoing work of the Halfway House for
ex-prisoners, comprehensive proposals have been
made for the effective rehabilitation and
reintegration of ex-prisoners into the society,
including addressing their employment,
accommodation, health and networking needs.
29
Social Sector Investment-Training Component
  • On-the-Job Training Apprenticeship Programme
    (OJT)
  • Retraining Programme
  • 5,234 persons trained during fiscal 2005
  • Multi-Sector Skills Training (MUST) Programme
  • Helping You Prepare for Employment (HYPE)
    Programme
  • 1,330 persons trained during fiscal 2005

30
Social Sector Investment-Training
  • Civilian Conservation Corps (CCC) 3,697 persons
    trained during 2004 and 2005 cycles.
  • Youth Training and Employment Partnership
    Programme (YTEPP) 6,029 persons trained during
    fiscal 2005
  • Geriatric Adolescent Partnership Programme
    (GAPP) 826 persons trained during fiscal 2005
  • Non-Traditional Skills Training for Women
  • Export Centres Programme
  • Transformation and Development Centres (TDC)

31
Social Sector Investment-Training
  • Youth Apprenticeship Programme in Agriculture
    (YAPA) 2,617 persons trained during 2004 and
    2005
  • Community Education Programme 9,219 persons
    trained during fiscal 2005
  • Women in Harmony 480 persons trained during
    fiscal 2005
  • Adult Education Programme 96,000 persons trained
    during fiscal 2005
  • Patient Care Assistants (PAC) Programme

32
Social Sector Investments5 billion in 2 years
  • Government invested 2,801 million in fiscal
    2004 and 3,012 million in fiscal 2005 on 132
    social sector interventions geared to correct a
    range of social needs
  • 78 developmental programmes
  • 25 remedial programmes and
  • 29 preventive programmes

33
Survey of Living Conditions
  • A Survey of Living Conditions is being undertaken
    in conjunction with the European Unions Poverty
    Reduction Programme. The survey is expected to
    produce current data on poverty within Trinidad
    and Tobago to enable a more targeted approach to
    poverty reduction. The survey commenced in fiscal
    2005 and will be finalized in fiscal 2006.
  • The date of the last survey of living conditions
    was in 1992 which indicated the following
  • Unemployment Rate - 15
  • GDP - TT23.1 billion
  • Poverty Rate - 30


34
Unemployment Relief Programme (URP)
  • 28,456 unemployed men and 29,616 unemployed women
    received short term employment through the URP
    during fiscal year 2004
  • In fiscal 2005, 48,301 unemployed men and 72,816
    unemployed women were employed with the
    programme.

35
  • State funded Old age Pension
  • In 1992 the old age pension was 356.15
  • In 2000 the old age pension was 720.00
  • in 2001 the old age pension was 800.00
  • In 2005 the old age pension was 1150.00
  • Pensioners can also access free medical and
    drugs
  • Pensioners can also access the reverse mortgage
    facility
  • Pensioners can also qualify for free bus passes
  • Pensioners can access free education up tp
    tertiary levels
  • Pensioners can access home ownership
    opportunities through the rent to earn program
    and grants

36
  • Community Environment Protection and Enhancement
    Programme)
  • 6,100 persons were employed during fiscal 2004
  • 6,240 persons employed during fiscal 2005
  • Minimum Wage
  • The Minimum wage was increased from 8 per hour
    to 9 per hour in 2005.


37
NATIONAL SECURITY
38
National Security
Government has been responding aggressively to
the rise in criminal activity. Budget
Allocation The Ministry of National Security has
consistently been among the top 3 ministries in
terms of Governments annual budgetary
allocations.
Year Allocation 2000 1.4
billion 2001 1.4 billion 2002 1.6
billion 2003 1.8 billion 2004 1.9
billion 2005 2.3 billion
39
Kidnappings For Ransom
  • 2000 - 4
  • 2001 - 7
  • 2002 - 31
  • 2003 - 51
  • 2004 - 28
  • 2005 - 58
  • 2006(May)- 5

40
National Security
  • New Equipment
  • Law enforcement and protective agencies have
    been provided with modern equipment and
    technology needed for proper intelligence
    gathering, effective law enforcement, and
    emergency response.
  • These include
  • 182 vehicles for the Police Service (including 43
    mobile police units equipped with CCTV)
  • Airships equipped with aerial surveillance
    systems
  • 2 aerial surveillance helicopters
  • 2 fast-patrol vessels

41
National Security
  • New Equipment
  • 3 sky watch units
  • Installation of 5 of the 10 radar sites
    designed to provide the country with
    360-degree radar coverage
  • 68 Fire Service vehicles, including 56 Water
    Tenders and Water Tankers, a Hazmat Unit and an
    Airport Fire Unit, in addition to other
    equipment such as Aerial Appliances (Hydraulic
    Platforms).

42
National Security
  • Infrastructure Upgrade
  • Phase 1 of the police station repair and
    refurbishment programme has been completed. This
    Phase specifically targeted the repair and
    refurbishment of the police charge room, air
    conditioning units, bathroom facilities, kitchen,
    ceiling and reception areas so as to provide a
    more comfortable working environment for the
    nations police officers.
  • Work has commenced on
  • the construction of 5 new police stations in
    Belmont, Tunapuna, Gasparillo, Mayaro and Toco
  • a 14.3 million refurbishment and upgrade for the
    Police Training College.

43
National Security
  • Institutional Strengthening
  • Commencement of the implementation of a modern
    merit-based Performance Management System to
    transform the Police Service from the existing
    inefficient seniority-based system, to one that
    adequately rewards an officers performance.
  • The National Office of Disaster Preparedness and
    Management (ODPM) with responsibility for
    bringing disaster management to the forefront of
    national consciousness has been commissioned.

44
INFRASTRUCTURE
  • Flood Mitigation
  • Waste Water Treatment
  • Roads and Bridges
  • Public Transportation
  • New Infrastructure

45
Flood Mitigation
  • On-going flood mitigation works continue on key
    rivers, including
  • the Marabella, Cipero and Vistabella Rivers in
    the South of Trinidad
  • Richplain Ravine, North Oropouche and
    Watercourses in Maraval/ Diego Martin areas in
    the North of Trinidad
  • the Caroni River in Central Trinidad.
  • Wastewater Treatment
  • The Municipal Wastewater Treatment Facility at
    the new Beetham Plant has been completed and will
    provide a better service to over 30,000
    individuals in Port of Spain and environs from
    Diego Martin in the West and Mt. Hope in the East.

46
  • Roads and Bridges
  • Under the Roads and Bridges Rehabilitation
    component of the National Highways Programme,
    construction work was completed on the Couva Main
    Road, Cedar Hill Road, Diego Martin Road,
    Guaracara/Tabaquite Road and the Mayaro
    Guayaguayare Road.
  • Reconstruction work was completed on bridges in
    Paria, Hololo Road, Morne Diablo Quarry Road and
    Southern Main Road in Cedros.
  • Public Transportation
  • 1.6 million was spent to purchase 5 purpose
    built buses for the physically challenged in 2004
  • 12 articulated buses were acquired at a cost of
    21.3 million in 2005 to increase the fleet of
    PTSC buses and improve its service to the public
  • A further 27 buses were retrofitted in 2005 at a
    cost of 4.7 million
  • The Old Railway Building transport hub central
    office was refurbished at a cost of 1.5 million.

47
HOUSING
48
Investment in shelter for citizens
49
  • Accelerated Housing Programme
  • Fiscal 2004 - - 4,143 housing units
    constructed
  • Fiscal 2005 - 7,436 housing units constructed
    (est.)
  • Maintenance and Rehabilitation
  • Under its Maintenance and Rehabilitation
    Programme the Ministry of Housing engaged 50
    contractors in 64 projects during fiscal 2004 for
    maintenance and upgrading works to maintain the
    aesthetics of its housing settlements. The
    Ministry also engaged in a further exercise to
    upgrade properties at 7 sites in order to
    maintain its housing stock.
  • Home Improvement Grants
  • for the Disadvantaged
  • During fiscal 2004 Governments Home Improvement
    Grants Programme issued 1,006 grants in the sum
    of 10,000 per beneficiary to old age pensioners
    and the less fortunate in society to assist them
    in effecting homes repairs. Approximately 577
    grants were issued during fiscal 2005.

50
  • Squatter Regularization and Relocation
  • Upgrade work was completed on 5 sites under the
    first cycle of Governments Squatter
    Regularisation Programme, which seeks to
    regularise approximately 5,400 squatter families.
    These 5 sites have yielded 855 lots.
  • During 2004, 190 house units were also
    constructed for the relocation of squatter
    families at Thompson Gardens and KP lands in
    Valencia.
  • Community Commercial Complexes
  • To deter the construction of unauthorized
    structures on older NHA estates, three (3)
    Commercial Complexes were constructed at Maloney
    (16 million), La Horquetta (10.2 million) and
    at Pleasantville to house a mix of commercial
    activities and further encourage the
    entrepreneurial spirit among residents.

51
BASIC EDUCATION
52
  • Textbooks for the Nations Children-
  • Rental Programme
  • During the period 2000 -2005
  • . 221,300 books in 2000 (primary schools
    only)
  • . 340,000 books in 2003
  • . 450,000 books in 2004
  • . 1,200,000 books in 2005
  • the programme was expanded to include students at
    early childhood Centres and students at special
    educational institutions.

53
  • Meals for the Nations Children while at school
  • 1000 breakfast school meals in 2000
  • 25,000 breakfast school meals in 2004
  • 37,208 breakfast school meals in
    2005.
  • 80,000 lunchtime school meals in 2000.
  • 92,000 lunchtime school meals in 2004
  • 94,736 lunchtime school meals in 2005 .

54
  • Transportation for the nations children to school
    provided by the government
  • Qualified students were provided with free
    transportation through the purchase of bus
    tickets and maxi taxi places
  • 1,263,754 (bus tickets)
  • 633,830 (maxi taxi places)
  • Security
  • Physical security measures including fencing and
    security lighting were introduced at 17 secondary
    schools
  • 60 primary schools provided with security
    services under the School Security Programme
  • the School Discipline Initiative was strengthened
    through the establishment of a school joint task
    force with the Ministry of National Security
  • 182 school safety officers were deployed to
    secondary schools throughout the country

55
  • Improvements in the system
  • Human resources agenda
  • 4 Junior Secondary Schools in Aranguez, Five
    Rivers, Siparia and Carapichaima were deshifted.
  • A National Curriculum Council was introduced to
    examine curricula in Primary and Secondary
    Schools
  • Skill tutors were introduced at secondary schools
    to guide students in academic and non-academic
    art

56
  • Improvements in the system
  • A Pre-School Education Program was launched
  • A system of local school boards to foster links
    between school and communities was introduced
  • School Intervention Strategy projects were
    implemented including
  • Peer Meditation, Peace, Love and
  • Understanding (PLUS)
  • School Time Out Programme (STOP)
  • Together We Light the Way (TLTW)
  • A Teacher Professional Development Unit was
    established.

57
TERTIARY EDUCATION
58
  • Enrolments at Major Public Tertiary
  • Education Institutions
  • Fiscal 2002 - 11,244 persons
  • Fiscal 2005 - 20,358 persons (an increase of
    81 )

Skills Development and Training
Programmes Approximately 37,370 persons were
trained during fiscal years 2004 and
2005. During 2004 the Laventille Technology and
Continuing Education Centre (LTCEC) was opened
and has enrolled 442 full-time and 115 part-time
students to date.
59
  • Government Assistance for Tuition Expenses (GATE)
    Programme
  • GATE has made tertiary education more affordable
    to all citizens of Trinidad and Tobago
  • In fiscal 2005 approximately 24,117 persons
    applied for financial support through GATE to the
    value of 126.2 million.
  • This was
  • more than double the 10,500 applications under
    the Dollar for Dollar program during fiscal 2004
  • an increase of over 500 since fiscal 2002
  • Through the Revised GATE free, tuition is now
    available to all Trinidad and Tobago nationals.

60
  • University of Trinidad and Tobago
  • Construction of the interim administration and
    teaching campus at OMeara for the University of
    Trinidad and Tobago has been completed.
  • There are 1,706 Trinidad and Tobago nationals
    registered at the UTT for the 2005-2006 term.

Quality Standards The Accreditation Council of
Trinidad and Tobago (ACTT) has been established
as a key instrument for the development of
quality tertiary education in Trinidad and Tobago
by facilitating registration, recognition,
quality enhancement and accreditation of tertiary
education and training institutions and
programmes.
61
HEALTH
62
Improving health care for our citizens
  • Completed Regulations to effect the Tissue
    Transplant Act which legalizes harvesting storage
    and transplanting of cadavers and live donors
  • Introduced the North Central Regional Health
    Authority (NCRHA) to govern Eric Williams Medical
    Sciences Complex, Caura Chest Hospital and 19
    Health Centres
  • Opened New Health Centres at Brasso Seco,
    Maloney, and Blue Basin
  • Expanded the C-Dap Program to cover Arthritis,
    Asthma, Enlarged Prostrate and Mental Depression
  • Achieved a 36.8 decline in the infant mortality
    rate at the Mount Hope Maternity Hospital between
    2002 and 2004.

63
Improving health care for our citizens
  • The first country in region to ratify the
    framework Convention on Tobacco Control
  • Commissioned additional operating theatres at
    major health institutions
  • Purchased
  • 136 additional beds at the San Fernando Hospital
  • with the opening of the new wing and Urology
    ward
  • 68 additional beds at the Eric Williams Medical
    Sciences
  • Complex with the expansion and refurbishment of
    its
  • Adult Medical and Surgical Wards and the
    Chaconia Suite.
  • Performed 100 Cataract surgeries in fiscal 2004
    and over 4,000 surgeries in fiscal 2005 under the
    joint initiative between Government and the
    Opthamalogist Society of Trinidad and Tobago

64
Improving health care for our citizens
  • Performed 30,000 surgical procedures,
    significantly reducing the waiting list at our
    Public Health Institutions.
  • Performed 11,041 CT Scans at our Health
    Institutions
  • Achieved a reduction in HIV/AIDS mortality by 50
    between 2002 and 2005
  • Provided free medication for 150,000 citizens
    through C-Dap
  • Provided free mammograms at all major health
    institutions

65
Improving health care for our citizens
  • Launched the School Hearing Programme and
    commenced screening of some 40,000 primary school
    children for hearing impairments
  • Trained over 1,000 nurses and assistants
  • Trained over 1000 Patient Care Assistants
  • Introduced Customer Relations Officers at major
    Health Institutions

66
AGRICULTURE
67
Allocation to the Ministry of Agriculture
  • Millions of Dollars
  • Year Budgetary Transfers to
    Allocation
  • Allocation Caroni
    less Transfers
  • 2000 636.4 317.0 319.4
  • 2001 353.7 90.0 263.7
  • 2002 249.8 - 249.8
  • 2003 391.6 90.0 301.6
  • 2004 427.2 81.3 345.9
  • 2005 453.0 - 453.0

68
Ministry of Agriculture Budgetary Allocation and
Transfers to Caroni (1975) Ltd.
69
  • Caroni (1975) Limited
  • Following the closure of Caroni (1975) Limited
    in 2003 action has been taken to ensure the
    productive and sustainable economic use of
    Caronis former lands. Government has vested
    these lands in the Estate Management and Business
    Development Company (EMBD) which has been
    actively identifying and surveying lands for the
    development of commercial complexes, light
    manufacturing and agricultural and housing
    estates.
  • Residential Lots
  • 22 sites have been identified
  • 6,755 former employees are eligible for priority
    consideration
  • preliminary allocation has been completed
  • delivery is scheduled on a phased basis to be
    completed by mid-2007


70
  • Caroni (1975) Limited (contd)
  • Agricultural Estates
  • 17 sites have been identified
  • 7,247 former employees are eligible for priority
    consideration
  • field identification exercises have been
    completed in respect of 1,200 plots on 6 sites
  • delivery is scheduled on a phased basis to be
    completed mid-2007
  • Retraining and Retooling of Former Employees
  • 4,752 applications received by the end of
    November 2005
  • 3,596 or 76.0 of courses completed, 402 in
    respect of former monthly-paid employees and
    3,194 in respect of former daily-paid employees
  • 936 former daily-paid employees participated in
    more than 1 course
  • 41 of Caronis former employees took part in
    training courses

71
  • Agricultural Census
  • During 2004 Government conducted the first
    National Agricultural Census to be undertaken
    since 1982.
  • Institutional Support Strengthening
  • A National Agricultural Information System was
    launched so as to further modernize the
    agricultural sector and a field inventory of
    18,000 parcels of agricultural lands was entered
    into the systems databases.

72
  • Agricultural Access Roads
  • In addition to routine road maintenance, a total
    of 61 km of agricultural access roads were
    constructed, inclusive of 4 bridges and 23
    culverts. These benefited over 3,280 farmers and
    serviced over 9,303 hectares of agricultural land.
  • Water Management and Flood Control
  • A total of 2,109 farmers benefited from
    Governments Water Management and Flood Control
    projects which serviced 1,880 hectares of
    agricultural land.
  • These projects included
  • The construction of 45 new ponds and
    reconstruction of 62 ponds
  • The de-silting of 105 km of drains and waterways.

73
  • Infrastructure Upgrade
  • Upgrade work on the countrys agricultural
    infrastructure continued including the upgrading
    of a number of fishing centres and markets to
    HACCP standards.
  • Youth Apprenticeship Programme in Agriculture
    (YAPA)
  • Youth involvement in agricultural activity was
    encouraged by the training of 2,462 young people
    between the ages of 17 and 25 and a further 155
    youths respectively under Phases I and II of the
    YAPA during 2004 and 2005.
  • The distribution of agricultural state lands and
    Caroni lands to farmers and to graduates of YAPA
    and the Eastern Caribbean Institute of
    Agriculture and Forestry (ECIAF) was accelerated.

74
  • Agricultural Incentive Program
  • During 2005 registered farmers received direct
    financial benefit from Governments Agricultural
    Incentive Programme to the value of 14.9 million.
  • Agricultural Credit
  • Government provided increased access to
    agricultural credit and protection for domestic
    agriculture producers from unfair foreign
    competition through the CET and import surcharges.

75
STATE ENTERPRISES IN TRINIDAD AND TOBAGO
76
  • Special Purpose State Enterprises
  • To overcome the cumbersome bureaucratic
    procedures in the public sector and increase the
    rate of implementation of Governments investment
    programme Government has designated 15 special
    purpose State Enterprises with a mandate to fast
    track, among other things
  • the improvement of roads and drainage
  • the construction of cultural centres and
    community sporting facilities
  • the stimulation of new business activity in the
    Industrial Light Manufacturing Sector and the
    Tourism Sector
  • the design and construction of Housing Estates

77
REPORTING OBLIGATIONS
  • To The Ministry of Finance
  • State Enterprises are required to present timely
    reports o the Ministry of Finance
  • Important reporting topics include strategic
    plans, project definition and appraisal, contract
    procedures and capital expenditure that require
    Cabinet Approval
  • To The Public
  • State Enterprises must produce yearly audited
    Financial Statements
  • These financial statements must be published in
    the major daily newspapers for the information of
    the public

78
REPORTING OBLIGATIONS
  • To The Integrity Commission
  • The Integrity in Public Life Act 2000, Section 4
    Code of conduct states
  • No person to whom this part applies shall be a
    party to or shall undertake any project or
    activity involving the use of public funds in
    disregard of the Financial orders or other
    regulations applicable to such funds
  • Board of Directors must pay attention to the Act
    that requires not only specific disclosure but
    suggests operating procedures especially in
    procurement matters

79
REPORTING RELATIONSHIPS
  • Security Matters
  • State enterprises are required under current
    laws, to report any activity or transaction that
    entails money laundering or any circumstance that
    may affect organisation or national security
  • State Enterprises have a duty to ensure that the
    security of the publicly owned property is
    managed effectively and reports of breaches of
    security should be made promptly to the relevant
    authorities

80
  • National Broadcasting Network (NBN)
  • Government has finalized the rationalization of
    the loss making NBN and has incorporated the new
    state owned Caribbean New Media Group Company
    Limited.
  • Financial Support for Strategic Industry
  • In light of its strategic national significance,
    we have also provided substantial financial
    assistance in support of the restructuring of the
    national air carrier.

81
TOBAGO
82
THA Allocation for Fiscal 2000-2006
Millions of Dollars
  • 2000 - 351.9
  • 2001 - 525.0
  • 2002 - 708.0
  • 2003 - 742.9
  • 2004 - 900.0
  • 2005 - 1,023.8
  • 2006 - 1,340.9

83
  • Resources Allocation
  • Government has been working in partnership with
    the Tobago House of Assembly (THA) for the
    development of Tobago, and has demonstrated its
    commitment to Tobago by ensuring adequate funding
    for the THA
  • In fiscal 2004 the allocation for capital and
    recurrent expenditure was increased by 21 percent
    to 900 million
  • In fiscal 2005 the allocation for capital and
    recurrent expenditure was increased by 14 percent
    to 1.023 billion.


84
Resources Allocation
  • In addition the following access to additional
    resources has been opened up by way of borrowing
    facilities for the THA
  • up to a maximum of 400 million in fiscal 2004
    and
  • up to a maximum of 500 million in fiscal 2005
  • In effect the total resources available to the
    people of Tobago more than doubled between 2003
    and 2005.

85
  • Improving the quality of life of Tobago
  • The Central Governments partnership with the
    THA during fiscal years 2004 and 2005 include
  • the expansion of international air arrivals to
    Tobago to 78,729 in 2004 and an estimated 87,796
    in 2005
  • the doubling of the number of persons employed in
    the tourism industry from 7,000 in 2002 to 15,000
    in 2004
  • the achievement of virtual full employment in
    Tobago
  • significant improvements in the international
    air-links to Tobago
  • the leasing of the LYNX and CAT fast-ferries for
    increased comfort and decreased travel time on
    the sea-bridge between Trinidad and Tobago

86
  • Improving the quality of life of Tobago
  • the construction of 3 new secondary schools at
    Mason Hall, Speyside and Goodwood and the
    achievement of surplus secondary school places in
    Tobago
  • the purchase of Pigeon Point by the THA to keep
    one of the nations treasures in the hands of the
    people of Tobago forever
  • the purchase of the Courland Estate at a cost of
    90 million
  • the immediate and effective response to the
    suffering and destruction arising from the
    widespread flooding and landslides of November
    2004 and from Hurricane Ivan
  • progress in the fight against HIV/AIDS

87
  • Improving the quality of life of Tobago
  • the revitalization of Kendal Farm School into a
    training institute for the provision of training
    to farmers in entrepreneurial development
  • the enhancement of the investment incentive for
    farmers and fishermen to lighten the cost of food
    processing items
  • the formation of the Agro-processing Association
    of Tobago (APAT) to increase the regional
    competitiveness of Tobagonian condiments
  • the establishment of 5 new primary schools in
    organic farming (linked to YAPA) with assistance
    from the FAO
  • the launch of a Pilot Credit Programme for
    farmers in collaboration with the ADB and BDC.

88
Port of Spain Waterfront Project (Under
construction)
  • Thank you

Telephone (868) 627-3537 Fax (868)
627-5882 EmailEnillC_at_gov.tt Websites
www.finance.gov.tt
www.ird.gov.tt
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