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TCL chairman: Smaller govt needed

The trinidad Guardian / The Government must reduce its role in the economy said Wilfred Espinet, Chairman of the TCL Group.

“The Government’s domination of the economy is a challenge that has to be changed. I encourage the Prime Minister to reduce the Government’s exposure. I recognize that the Government’s reaction is that the private sector is not moving fast enough. The problem with that is I do not think that you can push anybody into any system. It is by the space that is created that people will come into it.”

He said that the private sector has not been given enough room to do what they do best.

“Private enterprise must do a lot more as we have been crowded out of a lot of activities. Coming into the housing market as distinct from just being a supplier of aggregates and concrete brings us into a whole new realm which we feel supports what we believe in.”

Espinet spoke yesterday at the launch ceremony for the East Lake Residential Community Project at the La Joya Complex, St Joseph.

TCL is the parent company of Ready Mix Concrete which is involved in the project.

He said it is not good that T&T seems to have fallen behind regional countries like Jamaica and Barbados when during the 1970s, T&T was ahead of these islands in terms of construction best practices.

He referred to the problems that TCL had a few years ago and admitted that the situation at TCL was “untenable” and they were able to successfully turn around the company.

He said they brought the right management, technology and practices into the company.

“TCL was at that time on the brink of collapsing. We as a team were able to engage all the stakeholders and over a period of three years we had made dramatic changes. TCL is now a more stable company.”

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