Divestment best way to protect jobs, says PM

Prime Minister Kamla Persad-Bissessar has criticised the Opposition over its accusation that the Government plans to carry out a “fire sale” of State companies to financiers and associates of the United National Congress (UNC), following her announcement of plans to divest National Quarries Ltd, the Hilton Trinidad, and Magdalena Grand Beach and Golf Resort in Tobago.

She also yesterday defended the plan for divestment of State companies, citing massive losses at Lake Asphalt of Trinidad and Tobago Ltd under the People’s National Movement (PNM) over the past decade.

Full coverageKamla Persad-Bissessar Announces Plans to Divest State-Owned Assets11 reports

Opposition Chief Whip Marvin Gonzales made the fire sale accusation on Wednesday, a day after the Prime Minister announced the planned divestment during Tuesday’s sod-turning ceremony for the new $500 million Marriott Resort at Rocky Point, Tobago.