Letter: In a dynamic economy, adapt or die


Dear Sir:

In one of my contributions on the Petrotrin fiasco in Trinidad I said that its governance objective was to preserve jobs. Further that the financial failure of its refinery was also due to the lack of knowledge, its use and even its creation in our circumstances, which would have contributed to the refinery’s competitiveness, its profits.

Today, the major national discussion centres on the results of this knowledge vacuum – Petrotrin’s financial woes, its negative refinery margin, its large loans and in particular its looming bullet payments, which are soon due and which neither Petrotrin nor the government is able to honour. However, these would indeed have had their genesis in the knowledge vacuum in the operation and development of the refinery.

The…

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