Friday, September 29, 2023
  • Contact Us
The Caribbean Post
Advertisement
  • Current News
    • Politics
    • Business
  • Tech News
  • Education
  • Entertainment
    • Travel
    • Lifestyle
  • Health
    • Recipes
  • World
    • Antigua
    • Aruba
    • Barbados
    • Barbuda
    • Dominica
    • Dominican Republic
    • Guadeloupe
    • Guyana
    • Haiti
    • Jamaica
    • St Lucia
    • Suriname
    • Tobago
    • Trinidad
No Result
View All Result
The Caribbean Post
  • Current News
    • Politics
    • Business
  • Tech News
  • Education
  • Entertainment
    • Travel
    • Lifestyle
  • Health
    • Recipes
  • World
    • Antigua
    • Aruba
    • Barbados
    • Barbuda
    • Dominica
    • Dominican Republic
    • Guadeloupe
    • Guyana
    • Haiti
    • Jamaica
    • St Lucia
    • Suriname
    • Tobago
    • Trinidad
No Result
View All Result
The Caribbean Post
No Result
View All Result
Home Current News

Trinidad and Tobago eyeing to set limit on fuel subsidy

Staff by Staff
September 5, 2022
in Current News
0
Trinidad and Tobago eyeing to set limit on fuel subsidy
2
SHARES
12
VIEWS
Share on FacebookShare on Twitter

You might also like

Early warning systems crucial for climate adaptation—report

Dominica grapples with power crisis as aging plants struggle to meet island’s demand

Caribbean organisations rally for Biden administration’s support and engagement with climate change

The Trinidad and Tobago Government would be unable to sustain its ongoing fuel subsidy if current oil prices remain soaring high.

For financial year 2022, the Government paid TT$2.6 billion to subsidise fuel. And with crude oil prices currently at US$90 per barrel, the government anticipates that next year’s subsidy will be around TT$500 million less. Hence, the Government is looking at capping the subsidies.

During the Spotlight on the Economy Forum, Finance Minister Colm Imbert announced that the government is looking at capping the fuel subsidy at TT$1 billion, which is 54.1% of the TT$2.18 billion projected for 2023’s subsidy.

“I don’t think that we as a country can afford that. As the Prime Minister has indicated, we have to limit the subsidy we can pay, and the rest will be used for other purposes. We already think that a reasonable cap for the fuel subsidy should be $1 billion,” he said, noting that other facilities such as electricity are already being subsidized.

Imbert added that the government is prudent in spending for the country’s good.

Further details are expected to be publicized during Budget Day on September 26, 2022.

Credit: Source link

Tags: eyeingfuellimitSetsubsidyTobagoTrinidad
Previous Post

Guyana projected to earn US$1 billion from oil production

Next Post

Give Tobago 5% of national budget

Staff

Staff

Related Posts

Early warning systems crucial for climate adaptation—report
Current News

Early warning systems crucial for climate adaptation—report

by Staff
September 26, 2023
Dominica grapples with power crisis as aging plants struggle to meet island’s demand
Current News

Dominica grapples with power crisis as aging plants struggle to meet island’s demand

by Staff
September 18, 2023
Caribbean organisations rally for Biden administration’s support and engagement with climate change
Current News

Caribbean organisations rally for Biden administration’s support and engagement with climate change

by Staff
September 8, 2023
Dominica reaches 36% of its total target of 5,000 resilient homes by 2030
Current News

Dominica reaches 36% of its total target of 5,000 resilient homes by 2030

by Staff
September 4, 2023
Nevis’ colourful history | Parting shot
Current News

Nevis’ colourful history | Parting shot

by Staff
September 1, 2023
Next Post
Give Tobago 5% of national budget

Give Tobago 5% of national budget

Recommended

Passion Fruit Margarita – Immaculate Bites

Passion Fruit Margarita – Immaculate Bites

June 30, 2022
International Health and Wellness Tourism Congress returns in its 6th edition in the Dominican Republic

International Health and Wellness Tourism Congress returns in its 6th edition in the Dominican Republic

February 16, 2023

Categories

  • Business (877)
  • Current News (394)
  • Education (34)
  • Entertainment (135)
    • Lifestyle (67)
    • Travel (23)
  • Health (397)
    • Recipes (309)
  • Politics (38)
  • Tech News (90)
  • World (3,483)
    • Antigua (28)
    • Aruba (30)
    • Barbados (28)
    • Barbuda (28)
    • Dominica (29)
    • Dominican Republic (29)
    • Guadeloupe (538)
    • Guyana (888)
    • Haiti (28)
    • Jamaica (28)
    • St Lucia (27)
    • Suriname (28)
    • Tobago (884)
    • Trinidad (889)

Don't miss it

Stick of Butter Rice – Immaculate Bites
Recipes

Stick of Butter Rice – Immaculate Bites

September 27, 2023
Early warning systems crucial for climate adaptation—report
Current News

Early warning systems crucial for climate adaptation—report

September 26, 2023
Easy Broiled Salmon Recipe – Immaculate Bites
Recipes

Easy Broiled Salmon Recipe – Immaculate Bites

September 25, 2023
10 Best Pet-Friendly Resorts in Jamaica
Lifestyle

10 Best Pet-Friendly Resorts in Jamaica

September 22, 2023
Sweet Potato Waffles – Immaculate Bites
Recipes

Sweet Potato Waffles – Immaculate Bites

September 22, 2023
TrinaTracker secures order for 108MW smart solar tracking system in Colombia
Business

TrinaTracker secures order for 108MW smart solar tracking system in Colombia

September 21, 2023
The Caribbean Post

This is an online news portal that aims to share latest news about Africa, Caribbean and other countries of Africa with respect to business, entertainment, breaking updates and stuff like that. Feel free to get in touch!

Categories

  • Business
  • Current News
  • Education
  • Entertainment
    • Lifestyle
    • Travel
  • Health
    • Recipes
  • Politics
  • Tech News
  • World
    • Antigua
    • Aruba
    • Barbados
    • Barbuda
    • Dominica
    • Dominican Republic
    • Guadeloupe
    • Guyana
    • Haiti
    • Jamaica
    • St Lucia
    • Suriname
    • Tobago
    • Trinidad

Browse by Tag

announces Barbados Bites Business Caribbean Caribe climate COVID COVID19 Cup development Dominica economic energy food France French global Government growth Guadeloupe Guyana Guyanas Guyanese Health Immaculate Jamaica Local man Minister National News oil police President Room Route Silicon support Tobago Tobagos trade Trinidad weather World

Recent News

Stick of Butter Rice – Immaculate Bites

Stick of Butter Rice – Immaculate Bites

September 27, 2023
Early warning systems crucial for climate adaptation—report

Early warning systems crucial for climate adaptation—report

September 26, 2023
Easy Broiled Salmon Recipe – Immaculate Bites

Easy Broiled Salmon Recipe – Immaculate Bites

September 25, 2023
10 Best Pet-Friendly Resorts in Jamaica

10 Best Pet-Friendly Resorts in Jamaica

September 22, 2023

2022© Design by CodingBite | Powered by LuxamaMedia.

No Result
View All Result
  • Current News
    • Politics
    • Business
  • Tech News
  • Education
  • Entertainment
    • Travel
    • Lifestyle
  • Health
    • Recipes
  • World
    • Antigua
    • Aruba
    • Barbados
    • Barbuda
    • Dominica
    • Dominican Republic
    • Guadeloupe
    • Guyana
    • Haiti
    • Jamaica
    • St Lucia
    • Suriname
    • Tobago
    • Trinidad

2022© Design by CodingBite | Powered by LuxamaMedia.