NH International, a construction company owned by former chairman of the Telecommunications Services of Trinidad and Tobago (TSTT), Emile Elias, has won in court against a company owned by Finance Minister Colm Imbert, in a legal matter arising from the construction of the Grenada National Stadium.
The Appeal Court has dismissed an application by National Stadium (Grenada) Corporation for a stay of execution of a judgement handed down in 2011 by Justice Peter Rajkumar in 2011 in favour of NH International.
Finance Minister Colm Imbert says that while he sympathises with two restaurants that have been forced to close down, he 's hoping that it could trigger a greater reliance on locally produced food products.
The restaurants have said that foreign exchange shortages are responsible for their closures.
Speaking in Parliament today, Minister Imbert said that he had seen where one of the restaurants indicated that the arrangement between the franchise holder and the local operator, was for the use of only imported food products.
Finance Minister Colm Imbert says it is clear to the Ministry of Finance that people are willing to pay the Property Tax and he said that's why the Cabinet has agreed to extend the deadline for submission of forms to June 5th.
Speaking at today's post-Cabinet media conference, Minister Imbert said the fact that people are lining up to submit the forms, shows that they have not acceded to the calls by some to "rip up forms" and not pay the tax.
The Minister told the media that 60,000 forms were submitted last week and another 90,000 this week ahead of the May 22nd deadline.
Finance Minister Colm Imbert says even he is upset with himself for having to reintroduce Property Tax but says the government intends to proceed with it given a loss of $20 billion in revenue.
"I know people don't like to pay property tax. I and all (am) vex with myself because I have to pay the tax too. But we need everybody to contribute to the revenues of the country and this is one of the measures that we have to continue with," the Minister told today's post-Cabinet news conference.