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The Trinidad and Tobago Chamber of Industry and Commerce has called for a phased approach to changes in natural gas pricing following an increase announced by the National Gas Company of Trinidad and Tobago.
In a media release, the TT Chamber said it is collecting information from members on cost increases linked to the 77 per cent rise in gas rates. The organisation said the data will address changes in operating costs and effects on pricing, employment and exports.
The TT Chamber said manufacturers have operated under gas pricing arrangements set by the State as part of efforts to support diversification. It noted that electricity and water subsidies also form part of the framework under which businesses operate. The chamber said these measures are linked to growth plans that rely on partnership between the State and business.
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