By Chantalé Fletcher
PRIME Minister Dr Keith Rowley says the Telecommunication Services of Trinidad and Tobago (TSTT) is in the process of corporate restructuring to ensure its continued survival as a profitable enterprise.
He was responding to Couva South MP Rudranath Indarsingh in the Lower House on Wednesday during the Prime Minister’s Question Segment.
Dr Rowley said as part of that restructuring, discussions were underway with the recognised trade union (Communication Workers Union) as required by law.
He said, “Funding is required to support the restructuring effort and TSTT which is 51% owned by the local population and 49 % owned by a foreign company is the process of loan financing.
“Due to the sensitivity of this matter, and the stage it has reached, it would be premature and irresponsible of me to say anything further at this time.”
However last Saturday, CWU General Clyde Elder again made claims that a bond of US$70 million was secured by TSTT through Republic Bank and Oppenheimer to finance the retrenchment of 573 workers.
He accused the Government of using Amplia to syphon money from TSTT.
Elder said, “And the reason for doing that was to make it look like TSTT was not profitable, close it down and in the process get rid of the CWU, no different from what they did with Petrotrin.”
When Indarsingh enquired whether the 573 workers identified would lose their jobs through the retrenchment exercise,
Dr Rowley said, “That matter of the number of persons or any persons for that matter and retrenchment has not been completed or decided.
“The restructuring details are on the way within the company and we will await the outcomes of those discussions in the proper and normal manner.”
