House of Representatives


Lack of Confidence in the Minister of Finance and the Economy

House of Representatives - 5th Session - 10th Republican Parliament

WHEREAS First Citizens Bank (FCB) is a State Enterprise in which the Government of Trinidad and Tobago has a majority shareholding and has made significant investments to ensure the proper functioning and viability of the of the Bank in its competitive environment;

AND WHEREAS any action or lack thereof of the Chief Executive Officer (CEO) of FCB can have a negative return on the Government's investment in FCB;

AND WHEREAS the Minister of Finance and the Economy was the CEO of FCB during the period 2006 to 2009 when a loan was granted to Carlton Savannah Limited for which the funds were to be used for the construction of a hotel;

AND WHEREAS the Carlton Savannah Limited has been placed in receivership and the outstanding loan balance has negatively affected First Citizens Bank's non-performing loan ratio;

AND WHEREAS the said conduct of the Minister of Finance and Economy in his previous capacity as CEO of FCB has eroded the confidence of the public in the Minister?s ability to administer over the finances of the nation in the best interest of the public;

BE IT RESOLVED that this Honorable House express its loss of confidence in Mr. Larry Howai as Minister of Finance and Economy of Trinidad and Tobago;

AND BE IT FURTHER RESOLVED that this House call upon the Prime Minister to take immediate steps to have the appointment of the Minister of Finance and the Economy revoked forthwith

(By the Member for Chaguanas West)

23 Jan 2015
House DebateHansard
Debate was stood down
1 speakersShow Speakers
1.Mr. Jack Warner [Chaguanas West] [Opposition Member]