State Enterprises – Ministry of Finance https://www.finance.gov.tt Government of the Republic of Trinidad & Tobago Fri, 19 Dec 2025 18:28:05 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 State Enterprises Investments Programme 2026 (Mobile Version) https://www.finance.gov.tt/2025/12/19/state-enterprises-investments-programme-2026-2/ Fri, 19 Dec 2025 17:15:00 +0000 https://www.finance.gov.tt/?p=45879 Read More+

]]> State Enterprises’ purchasing power has been shielded largely by the lower rate of inflation prevailing in the domestic economy, compared to other Eastern Caribbean economies ranked by the International Monetary Fund (IMF), as amongst the lowest in the world. In contrast, the IMF, in its July 2025 Update of its World Economic Outlook (WEO), laments the significant uncertainty and downside risks due to geopolitical threats and a potentially unclear policy path following political changes in 2024. The IMF also forecasts a decline in energy commodity prices by 2.6% in 2025, influenced by weak Chinese demand and increased supply from non-OPEC+ nations.

Total investment in fixed capital by the State Enterprises sector for fiscal 2025 is projected to be just over $4,092 million. Of that sum, approximately 67 percent is expected to be incurred between the period April to September 2025. Driving the total projection for 2026 is expenditure in the Energy sector, in the vicinity of $1,800 million. Heritage Petroleum Company Limited accounts for the largest share of that sum, amounting to some $1,225 million from retained earnings, mainly on land and drilling projects. At a distant second in the Energy sector, The National Gas Company of Trinidad and Tobago Limited, projects expenditure circa $329 million from retained earnings by the end of fiscal year 2026, 77 percent of which will be concentrated on the Beachfield Manatee Upgrade.

Looking ahead to 2026, the State Enterprises Investment Programme is projected to be just over $3,619 million towards fixed capital. Again, the bulk of this investment, estimated around $1,816 million will be attracted by the Energy sector, with Heritage Petroleum Company Limited taking the lead, with ongoing offshore and land drilling projects. The National Infrastructural Development Company Limited will be advancing the San Fernando to Point Fortin Highway where the priority link is 93% complete.

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]]> State Enterprises Investments Programme 2026 https://www.finance.gov.tt/2025/10/13/state-enterprises-investments-programme-2026/ Mon, 13 Oct 2025 21:00:00 +0000 https://www.finance.gov.tt/?p=45298 Read More+

]]> State Enterprises’ purchasing power has been shielded largely by the lower rate of inflation prevailing in the domestic economy, compared to other Eastern Caribbean economies ranked by the International Monetary Fund (IMF), as amongst the lowest in the world. In contrast, the IMF, in its July 2025 Update of its World Economic Outlook (WEO), laments the significant uncertainty and downside risks due to geopolitical threats and a potentially unclear policy path following political changes in 2024. The IMF also forecasts a decline in energy commodity prices by 2.6% in 2025, influenced by weak Chinese demand and increased supply from non-OPEC+ nations.

Total investment in fixed capital by the State Enterprises sector for fiscal 2025 is projected to be just over $4,092 million. Of that sum, approximately 67 percent is expected to be incurred between the period April to September 2025. Driving the total projection for 2026 is expenditure in the Energy sector, in the vicinity of $1,800 million. Heritage Petroleum Company Limited accounts for the largest share of that sum, amounting to some $1,225 million from retained earnings, mainly on land and drilling projects. At a distant second in the Energy sector, The National Gas Company of Trinidad and Tobago Limited, projects expenditure circa $329 million from retained earnings by the end of fiscal year 2026, 77 percent of which will be concentrated on the Beachfield Manatee Upgrade.

Looking ahead to 2026, the State Enterprises Investment Programme is projected to be just over $3,619 million towards fixed capital. Again, the bulk of this investment, estimated around $1,816 million will be attracted by the Energy sector, with Heritage Petroleum Company Limited taking the lead, with ongoing offshore and land drilling projects. The National Infrastructural Development Company Limited will be advancing the San Fernando to Point Fortin Highway where the priority link is 93% complete.

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]]> Media Release: Finance Minister Presents Instruments of Appointment to new Caribbean Airlines Limited (CAL) Board https://www.finance.gov.tt/2025/06/24/media-release-finance-minister-presents-instruments-of-appointment-to-new-caribbean-airlines-limited-cal-board/ Tue, 24 Jun 2025 20:46:17 +0000 https://www.finance.gov.tt/?p=45028

The Minister of Finance, Hon. Davendranath Tancoo, MP, wishes to advise that today, June 24th, 2025, instruments of appointment were presented to new members of the Board of Directors of Caribbean Airlines Limited (CAL).

The Government has agreed to the appointment of the under-mentioned persons, as members of the Board of Directors for a period of two (2) years with effect from the date of the Resolution of the Shareholders, in accordance with the Companies Act, Chap. 81:01 and the By-laws of the Company:-

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IMAGE GALLERY

]]> Speech: Statement by the Honourable Minister of Finance on the Report on the Operations of the National Insurance Board of Trinidad and Tobago (NIBTT)and Audited Financial Statements for the Financial Year ended June 30, 2024House of Representatives on Friday 22nd November, 2024 https://www.finance.gov.tt/2024/11/22/speech-statement-by-the-honourable-minister-of-finance-on-the-report-on-the-operations-of-the-national-insurance-board-of-trinidad-and-tobago-nibttand-audited-financial-statements-for-the-financial/ Fri, 22 Nov 2024 20:38:20 +0000 https://www.finance.gov.tt/?p=44158 Read More+

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I have been authorised by Cabinet to make this Statement on the Operations of the National Insurance Board of Trinidad and Tobago (NIBTT) and Audited Financial Statements for the Financial Year ended June 30, 2024.

2. Section 13(2) of the National Insurance Act, Chap. 32:01 states that ‘Subject to subsection (3), the Board shall within three months of the end of each financial year make a report of its proceedings and of the operation of this Act in respect of that financial year to the Minister who shall, within two months of receipt of such report, lay it before Parliament. Today, I would like to outline to this House some of the main highlights of this Report.

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    ]]>         State Enterprises Investment Programme 2025 (Mobile Version) https://www.finance.gov.tt/2024/10/08/state-enterprises-investment-programme-2025-mobile-version/ Tue, 08 Oct 2024 15:31:21 +0000 https://www.finance.gov.tt/?p=43995 Read More+

    ]]>     Performance under Trinidad’s State Enterprises Investment Programme has remained fairly steady over the years against the ebbs and flows of the international economic landscape.

    Total investment in fixed capital by the State Enterprises sector for 2024 is projected to be just over
    $4,200 million. Of that sum, approximately 80 percent is expected to be incurred between the period April to September 2024, albeit the tendency for optimism in projections for this period. Driving the total projection for 2024 is expenditure in the Energy sector, in the vicinity of $1,600 million. Heritage Petroleum Company Limited takes the credit for accounting for the largest share of that sum, amounting to some $1,153 million from retained earnings, mainly on land and drilling projects. At a distant second in the Energy sector The National Gas Company of Trinidad and Tobago Limited, projects expenditure of almost $234 million from retained earnings by the end of fiscal year 2024, 45 percent of which will be concentrated on the Beachfield Manatee Upgrade.

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    ]]>         State Enterprises Board of Directors, Appointments Listing by Ownership, January 2024 https://www.finance.gov.tt/2024/01/30/state-enterprises-board-of-directors-appointment-listing-by-ownership-january-2024/ Tue, 30 Jan 2024 13:31:00 +0000 https://www.finance.gov.tt/?p=42005 State Enterprises Board of Directors, Appointments Listing by Ownership, January 2024

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    ]]>         State Enterprise Investment Programme 2024 (Mobile Version) https://www.finance.gov.tt/2023/10/11/state-enterprise-investment-programme-2024-mobile-version/ Wed, 11 Oct 2023 18:33:29 +0000 https://www.finance.gov.tt/?p=42841 Read More+

    ]]>     The State Enterprises Sector comprises 52 companies of which 40 are wholly owned, eight are majority owned and four of which the Government of the Republic of Trinidad and Tobago (GORTT) has a minority shareholding. A complete list of the State Enterprises is at Appendix I.

    These entities operate in the energy and energy based, financial services, manufacturing and agro-based, services and transport and communication industries.

    In 2022, GORTT’s equity holding in the State Enterprises Sector totaled $15,598.11 million with a Return on Capital Employed (ROCE) of 13.0 percent.

    The overall performance of the State Enterprises Sector in 2022 was positive. Profit After Tax increased by 48 percent, from $3,867.1 million in 2021 to $5,735.4 million in 2022. Despite losses in the Transport and Communication sector, the Energy and Energy Based sector and Financial Services sector continued their improved performance, both recording increases in profits in 2022. There were recoveries in the Manufacturing and Agro-Based and Services sectors, which both realized profits in 2022 following losses in 2021. Table 1 and Figure 1 refer

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    ]]>         State Enterprise Investment Programme 2024 https://www.finance.gov.tt/2023/09/29/state-enterprise-investment-programme-2024/ Fri, 29 Sep 2023 14:25:17 +0000 https://www.finance.gov.tt/?p=42660 Read More+

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    The State Enterprises Sector comprises 52 companies of which 40 are wholly owned, eight are majority owned and four of which the Government of the Republic of Trinidad and Tobago (GORTT) has a minority shareholding. A complete list of the State Enterprises is at Appendix I.

    These entities operate in the energy and energy based, financial services, manufacturing and agro-based, services and transport and communication industries.

    In 2022, GORTT’s equity holding in the State Enterprises Sector totaled $15,598.11 million with a Return on Capital Employed (ROCE) of 13.0 percent.

    The overall performance of the State Enterprises Sector in 2022 was positive. Profit After Tax increased by 48 percent, from $3,867.1 million in 2021 to $5,735.4 million in 2022. Despite losses in the Transport and Communication sector, the Energy and Energy Based sector and Financial Services sector continued their improved performance, both recording increases in profits in 2022. There were recoveries in the Manufacturing and Agro-Based and Services sectors, which both realized profits in 2022 following losses in 2021. Table 1 and Figure 1 refer

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    ]]>         State Enterprises Investment Programme 2023 https://www.finance.gov.tt/2022/09/26/state-enterprises-investment-programme-2023/ Mon, 26 Sep 2022 19:47:34 +0000 https://www.finance.gov.tt/?p=41216 Read More+

    ]]>     The State Enterprises Sector comprises 55 companies of which 43 are wholly owned, eight are majority owned and four in which GORTT has a minority shareholding. A complete list of the State Enterprises is detailed in Appendix I.

    These entities operate in the gas and oil industry, banking and financial services, manufacturing, transport and communication, tourism, agriculture, information technology and the provision of social services.

    In 2021, GORTT’s equity holding in the State Enterprises Sector totaled $15,656.51 million with a Return on Capital Employed (ROCE) of 10.1 percent. The Sector has demonstrated that it is on the path to full recovery from the impact of the COVID-19 pandemic with profits in the amount of $3,240.1 million.

    The overall performance of the State Enterprises Sector was positive. The energy and energy based sector turnaround from losses in 2020 to profits in 2021. Similarly, the financial services sector continued its growth trajectory with a 31% increase in profitability from 2020. While there were losses in the other sectors, these improved greatly from what was incurred in 2020, suggesting that a breakeven position may be realized in the very near future.

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    ]]>         State Enterprises Investment Programme 2022 https://www.finance.gov.tt/2021/10/04/https-www-finance-gov-tt-wp-content-uploads-2021-10-state-enterprises-investment-programme-seip-2022-pdf/ Mon, 04 Oct 2021 23:11:09 +0000 https://www.finance.gov.tt/?p=39578 Click to view ]]>