Monday 24 September, 2018

New president for Petrotrin in four months

A new president of State-owned oil company Petrotrin is expected to be appointed in four months' time.

Petrotrin has been undergoing a restructuring exercise and the company's operations are being overseen by a Cabinet-appointed body.

Responding to a question in Parliament on Thursday, Prime Minister Dr Keith Rowley said the company is actively looking for persons to fill executive positions.

"The board of Petrotrin, under Cabinet's guidance and instructions, are taking very drastic restructuring exercises at Petrotrin which has led to the removal of a number of persons at the top of the company," Rowley said.

"The company is currently actively engaged in the process of seeking qualified persons to serve as President and in similar positions. In the interim, the Cabinet has approved an executive body from the board for a six-month period. Two months of that has gone so in a few months that will expire and hopefully the board will have sourced a President and other posts that will run the company."

Rowley also gave an update on the establishment of the National Investment Fund (NIF) announced last month.

Through the NIF, the government plans to sell the shares of some CL Financial companies in a public offering.

Rowley said the fund should be available by the end of July and units will be traded on the Trinidad and Tobago Stock Exchange.

 

 

 

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