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LPG case may set worrying precedent for business, attorney Audrey Matura-Shepherd argues

Butane prices rise 8 to 9 dollars per pound

Posted: Thursday, September 29, 2022. 1:46 pm CST.

By Aaron Humes: Having found that it was wrong to take away the business initiative of the LPG importers, attorney Audrey Matura-Shepherd says, the court could have gone further in redress to her clients.

On a public plane, one of the key promises made by the new National Gas Company Limited (NGC) – that prices would go down – has not been fulfilled, with prices on a steady rise.

Second, nothing appears to prevent a Government from intervening in an industry and setting regulations to favour a Government-owned entity.

One of the primary considerations of the amended law is the level of investment in a second LPG terminal which may take several decades to return on investment. NGCL, even with certain concessions made by the previous administration, estimates it will take 15 years to obtain a return on its investment, but an expert for the claimants argues that it may take even longer under more conservative conditions. It amounts to a continuation of the monopoly by both administrations.

Matura-Shepherd notes that her clients have never ever received tax concessions or other benefits for their industry.

 

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