Post Cabinet Media Briefing – Thursday June 23rd 2022

Trade and Industry Minister Paula Gopee-Scoon addressed the recent increase in flour prices. She said the Government is very concerned and will continue support the poor and vulnerable. She said Government is reviewing the possibilities of helping citizens meet the cost of this basic item, and will report back on their findings in two weeks.

Minister Gopee-Scoon noted that flour prices have increased in most countries. She stated that both flour producers in T&T have given the assurance that they will adjust their prices once the situation normalises.

Minister Gopee-Scoon clarified that there is no grain in stock at NFM, instead the company has engaged in forward-buying.

Minister Gopee-Scoon assured that officials will be monitoring supermarket prices to ensure there is no price gouging. She appealed to wholesalers and retailers not to take advantage of the price increase in flour at this time. She says she has names of businesses that are acting “in an unconscionable way” but will give them a few days before taking it further.

Minister of Energy and Energy Industries, Stuart Young, confirmed that Chairman of the Commission of Enquiry into the Paria/LMCS Diving Tragedy, Justice Dennis Morrison, has resigned for personal reasons, and Cabinet has approved Mr. Jerome Lynch, QC as his replacement. Mr. Lynch, a barrister operating out of the UK and Bermuda, is expected in T&T next week to be sworn in as the new Chairman.