The Government of St. Vincent and the Grenadines has given approval to Fuel Suppliers for the waiver of the Common External Tariff to allow for the purchase of fuel outside of the Caribbean Community.
In his Ministerial Statement in Parliament this morning, Prime Minister Dr. Ralph Gonsalves said this decision was taken, in response to the announcement of the closure of Petrotrin in Trinidad.
The Prime Minister also said that the relevant CARICOM Officials have already been notified about this new decision.
The closure of the Petrotrin Refinery is likely to affect over two thousand employees. The Petrotrin Board of Directors said the closure is geared to curtail losses at the state owned oil company and get it on a path to sustainable profitability.