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 [phone] Fax (868)
627-5882 EmailEnillC_at_gov.tt Websites
www.finance.gov.tt
www.ird.gov.tt