Reprinted from Caribbean Net News
caribbeannetnews.com

Trinidad Government establishes Heritage Stabilization Fund

Saturday, August 26, 2006

by: Stephen Cummings
Caribbean Net News Trinidad and Tobago Correspondent
Email: stephen@caribbeannetnews.com

PORT OF SPAIN, Trinidad: The Trinidad Government is moving to establish a new Fund to buffer against the uncertainties within its energy sector.

Speaking at Thursday's Post Cabinet News Conference, Minister in the Ministry of Finance Conrad Enil said the new Heritage Stabilization Fund will also cater for the rainy days.

There has been widespread concern by public and private sector groups in the country about the possibility of a serious depletion in the country's oil and gas reserves. Reserves some experts say could run out within the next 15 years.

But on Thursday government sought to deal with the question of depleting resources.

Enil said rules for the Fund will be established by Parliament so as to eliminate direct influence by government.

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