Energy Minister: OWTU's Plan To Save Petrotrin Refinery Misleading
884 views · Published 14 September 2018 · 1:31 · Indexed 22 September 2026
Channel: TTT Live Online · 2018 · People & Blogs
Minister of Energy and Energy Industries, Franklin Khan, says the Oilfields Workers’ Trade Union's suggestion that Petrotrin employees have a 15% pay cut to pay off its debt is misleading. Minister Khan was asked by Senator Wade Mark whether the Government is considering the union's proposal to urgently and amicably resolve the matter. He also asked if the Government is considering negotiations with bond holders. On Thursday, OWTU President General, Ancel Roget, proposed that workers buy back the bond by making a salary contribution between 10% and 15% to fund the US$850 million bullet payment due in 2019 to be paid by Petrotrin. Mr. Roget made it clear that it was not a pay cut but a salary contribution. This suggestion was part of the OWTU's plan to save Petrotrin.
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