Below are the Post Cabinet press conference highlights from 18 March 2020
Keith Rowley
* No state of emergency at this time
* He will look into bar licence revocation, the Attorney General is examining it
* The local government will restrict access to the river lime sites
* Thank you to all healthcare workers
* Thank you to all business leaders and labour leaders
* High liquidity and low interest rates – reduction of reserve from 17% to 14%. Reduction of interest rate from 5% to 3.5%
* Commercial banks will reduce the prime rate to….
* Moratorium for 1 or 2 months, for loans and mortgages from banks
* Interest rate reduction on credit cards
* Gov’t to pay their debt to their creditors
* Asking the business persons not to let go jobs
* Defer payments of mortgages and rental payments if you can’t pay it. – HDC and TTMF 2 months to May
* Liquidity support programme
* Money to credit unions so they can lend, subsidised by the Government
* Exim bank have more money available for pharmaceuticals and manufacturers
* Tobago will get an additional amount.
* Tobago hotels will get money to do repairs.
* SEA will take place but late.
* Regional exams will also be affected they are awaiting word
* Please help health care workers where possible with their children
Terrence Deyalsingh
* 24K N95 masks and PPE equipment delivered to NIPDEC today.
* Absorbed 68 persons who will be in quarantine and be taking care of themselves in a Government Quarantine Facility
*Family members can drop care packages at Sangre Grande, well labelled.
* Red Cross is helping with contact tracing – 50 persons
Colm Imbert
* Reserve Requirement 17% to 14%
* Repo Rate reduced from 5% to 3.5%
* Prime rate is 9.5 % we have asked the prime rate to 6% rather than to 8%
* Spread between deposit rates and lending rates to be reduced please
* Skip a payment to all customers to defer payments for 1 month called skip a payment. Reviewed month to month. All penalties on non payment of installments will be waived
* Credit cards will be reduced by 10% on credit cards
* Credit cards reduced to 10% for small business persons and increase their limit
* The credit unions agree to institute similar avenues as the banks. Asking credit unions to reduce the % rate from 12% to 6% or less.
* Unicomer and Island Finance talking to them to reduce their rate
* HDC and TTMF will provide a moratorium for persons who are having issues paying
* NEDCO will receive funding to assist their clients for their projects
* Chamber of Commerce and TTMA asked business people to keep persons in jobs.
* Persons going to get monies owed to them by the Government
* The liquidity support programme. Loans to small business persons to assist them. Pay off within 12 months after the pandemic
* The EXIM Bank foreign exchange facility is to be increased
* Foreign Exchange for critical items
* Hoteliers in Tobago and Trinidad (Tobago primary) t facilitate upgrading during this slow time. To employ people and pput some funding in the system.
Camille Robinson Regis
* Food Support persons on database will be topped up $150 3 persons, $300 4-5 persons, $450 more than 6 persons
* School feeding programme children they will be brought under the food support programme
* For 3 months disability grants will be topped up 1 person – $150, 2 persons – $300, 3 persons $450 Four or more persons additional $500
* Famiiy member retrenched, income support for 3 months under the public assistance grant. With children the grant can be extended more than 3 months
* Rental assistance 3-6 months if the person is retrenched and needs help.
* Subsistence grants to NGOs that may be socially displaced
Stuart Young
* All non-nationals cannot be admitted to Trinidad and Tobago since last night, midnight unless an exception is granted
* Only essential or emergency travel please
* Non-nationals even a spouse or child will not be let back in.
* Permanent resident stamp or passport of Trinidad and Tobago will be allowed
* Defense Force and Police will help ensure people self-quarantine
* NAPA facilities are going to be utilised
* Cargo crew are not allowed to disembark
Answers to Media Questions Post Cabinet Press Conference 18 March 2020
* No jurisdiction over private rentals. The Government is appealing to private landlords
* Do not congregate even in your home
* Protection of front line personnel – being addressed at front line and PPE gear are being distributed as necessary. Policies are also being implemented at stations and prisons
* The chief medical officer is the quarantine authority. He can fine persons $6000 this will be enforced.
* Drive pasts will be done for persons who are under quarantine
* More than 10 persons gathered is unacceptable.There will be exceptions
* Parliament will take a two week break after Friday
* 5Billion to be given to contractors
* Approx 100M for scocially displaced persons
* Approx 100M US for foreign Exchange release.
* Min of Health says they will make more information available to reporters about cases, also will be working with GIS to plot the physical location of where cases were confirmed.
* TnT sent masks to Wuhan at the height of the the localized update. China thanked the Government and is sending supplies to assist