Government To Address $10 Billion-Plus T&TEC Debt To NGC In Budget

Public Utilities Minister Barry Padarath says the debt owed by T&TEC to NGC has now exceeded $10 billion and will be addressed as part of the Government’s upcoming budget measures.

Speaking to reporters, he said the Government inherited the problem from the previous administration and was now exploring financing options to reduce the growing burden.

“We inherited a situation as you would recall, I raised this inside of the Parliament ad nauseum, where the relationship between T&TEC and NGC was allowed to balloon and escalate. The debt to NGC at this point is surpassing 10 billion dollars. That was a debt that was racked up and left for us by the former administration unaddressed and that relationship between T&TEC and NGC is untenable, it cannot allow to continue.”