By Sue-Ann Wayow

THE disequilibrium in the foreign exchange market continues to be a main topic of discussion as various stakeholders meet with Central Bank Governor Larry Howai.

On Wednesday, stakeholder engagement sessions continued with the Energy Chamber and other members of the bank’s management team.

This follows similar engagements with the Confederation of the Regional Business Chambers, the T&T Chamber and the American Chamber (AMCHAM) Trinidad and Tobago, who all expressed similar concerns relating to foreign exchange.

Central Bank via media release on Wednesday stated, “Among the key discussion points identified as impacting the energy sector were the shortages of skilled labour, supplemental petroleum tax and VAT refunds. The chamber identified opportunities for improvements in the sector’s performance through the restructuring of the VAT system, accelerated capital allowances, streamlining the approval processes for greater efficiency, transitioning of the Green Fund to a Carbon Fund and greater equity in electricity pricing.

 “The disequilibrium in the foreign exchange market was also raised. A suggestion around developing a system to enhance opportunities for investments by the services sector of the energy business was shared as a means of increasing foreign exchange reserves in the long term.”

Howai said, “The Energy Chamber as a leading voice in the energy sector, representing nearly 400 member companies committed to building competitive and sustainable business across the nation. We are committed to working together to find practical, forward-looking solutions to issues facing the industry.”

Energy Chamber President Dr Thackwray Driver expressed appreciation to Howai for the engagement and committed the chamber’s support for the bank’s invitation to work collaboratively with key stakeholders in the best interest of country.

 The chamber welcomed the bank’s transparency and openness and the commitment to engage with the relevant government ministers on some of the ideas shared. Also representing the chamber was Priya Marajh.

“Looking ahead, the chamber expressed optimism about the performance of the sector, especially if there is agreement to some of the suggestions that were presented which in their assessment would redound to the benefit of upstream, midstream and downstream aspects of the energy sector,” the release also stated.