Business

$4 million Drag Mall coming in 2019

The Min­istry of Hous­ing and Ur­ban De­vel­op­ment will be­gin con­struc­tion of a $4 mil­lion Drag Mall in the cap­i­tal city next year, Hous­ing Min­is­ter Ed­mund Dil­lon said dur­ing yes­ter­day’s Stand­ing Fi­nance Com­mit­tee ses­sion in Par­lia­ment.

He made the com­ment in re­sponse to ques­tions from Op­po­si­tion MP Dr Roodal Mooni­lal on plans for the “de­vel­op­ment and man­age­ment of a prop­er­ty” at 43 In­de­pen­dence Square, Port-of-Spain.

Dil­lon said the prop­er­ty was re­ferred to as the “Drag Mall,” which is lo­cat­ed next to New City Mall.

Expert: Regular gas can blow your engines

The sav­ings mo­torists are ex­pe­ri­enc­ing by fill­ing their tanks with fish­ing boat fu­el may well even­tu­al­ly back­fire, as me­chan­ics are warn­ing that pro­longed use of reg­u­lar fu­el will cause en­gines to mal­func­tion.
The sale of reg­u­lar gaso­line, which is used by fish­er­men, has been in­creas­ing since Gov­ern­ment raised the price of su­per at the pumps from $3.97 per litre to $4.97 in the 2019 Bud­get.

Drivers rush for cheaper gas

Feel­ing the pinch from the in­creased cost of Su­per gaso­line, scores of mo­torists are flock­ing to the Carousel Ser­vice Sta­tion in San Fer­nan­do to fill their tanks with Reg­u­lar gaso­line, com­mon­ly sold as fu­el for fish­ing boats.

Reg­u­lar gas, which has an 87 Re­search Oc­tane Num­ber (RON), is a low­er grade than Su­per gaso­line (92 RON) and Pre­mi­um gaso­line (95 RON).

Not many mo­torists fill­ing their tanks seem to be con­cerned with the oc­tane lev­els of the fu­el but rather the dras­tic price dif­ference.

Not all Petrotrin workers getting nice packages

The no­tion that every Petrotrin em­ploy­ee will go home with hun­dreds of thou­sands of dol­lars is a fal­la­cy, ac­cord­ing to sev­er­al work­ers who have al­ready col­lect­ed their ter­mi­na­tion let­ters.

Em­ploy­ees said yes­ter­day that their sep­a­ra­tion pay­ments can­not last any sig­nif­i­cant time, as they have out­stand­ing loan and mort­gage pay­ments lead­ing up to their re­tire­ment.

NGC CNG to sponsor conversion of 1,000 taxis/maxis to CNG

The NGC CNG Company says it will sponsor the conversion of 1,000 taxis and maxi taxis from gasoline to CNG from January 2019.

In a statement issued Monday, the company said this promotion follows a highly successful, fully-subscribed tranche of conversions in June and July 2018, where 500 taxi and 180 maxi taxi owners were offered sponsored conversions on a first-come, first-served basis.

Successful applicants are currently being converted by government-approved licensed converters.

Gov't announces new companies to replace Petrotrin

Petrotrin is no more. The two companies coming out of the defunct State enterprise are Heritage Petroleum Company and Paria Fuel Trading Company.

Heritage Petroleum is the new exploration company while Paria Fuel Trading will handle fuel logistics and the energy trading aspect of the business.

The company began its roll out of the new companies even as the matter of its injunction appeal is still to be substantively read out in the Court of Appeal.

The Industrial Court sanctioned injunction had been lifted for just one week last Wednesday. 

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