Sun | Aug 20, 2017

PSOJ explores bringing claim against T&T over fuel subsidy matter

Published:Saturday | April 30, 2016 | 4:13 AM
PSOJ president William Mahfood says the central issue is the matter of fair trading.

Jerome Reynolds, Staff Reporter

The President of the Private Sector Organisation of Jamaica (PSOJ) is looking to bring a claim against Trinidad and Tobago for giving fuel subsidies to Trinidadian manufacturers, which the PSOJ says put Jamaican producers at a disadvantage.

PSOJ president William Mahfood says the central issue is the matter of fair trading.

The Trinidadian government recently admitted that over the years it had been subsidising the fuel sold in the country and it has benefited the manufacturing industry.

The subsidies, which amount to millions of dollars, allow Trinidadian manufacturers to produce goods at a lower cost.

However, Trinidad sells its fuel products to Jamaica and its other CARICOM partners at higher prices.

The PSOJ president says over the years Jamaican manufacturers have been complaining about the issue and the recent admission by Trinidad provides the right opportunity to seek compensation for those who have been affected.

In an interview on Power 106 FM this yesterday, Mahfood said the association believes there is a basis for bringing a claim.

 

PSOJ President , William Mahfood

The PSOJ president argues that Jamaica as a country has been affected by Trinidad’s fuel regime.

According to Mahfood, the money used to pay higher fuel costs could have been used by Jamaica to address some of its financial, social and developmental needs.

 

PSOJ President , William Mahfood speaking with talk show host Joan Williams