FINANCE MINISTER Colm Imbert has said local institutions and legislations such as the Public Procurement Act, the TT Revenue Authority and the Gambling and Gaming Commission promote good governance by allowing for transparency and accountability.
"TT has a series of strong institutional checks and balances that establish and maintain a solid platform for good governance," Imbert said. "We have an independent judiciary, a free press, a constitution that respects the rights and freedoms of all citizens, a highly accountable parliament, which scrutinises the government's actions and decisions and the performance of all state enterprises and statutory authorities.
"We also have an independent elections commission, a robust system for access to official information, and systems for challenging public authorities' decisions, among many other checks and balances."
Imbert was speaking at the opening day of a two-day dialogue on governance for development in Latin America and the Caribbean, held at the Hyatt Regency in Port of Spain, on August 14.
The event will see several officials from Latin America and the Caribbean gather to deliberate on issues such as the legitimacy of public institutions, security and accelerating the implementation of the Sustainable Development Goals through improved governance.
Imbert said the Public Procurement legislation promotes transparency and accountability, fosters fair competition, strengthens institutional integrity and lays the groundwork to make the procurement process more efficient.
"(It) is a critical tool in this regard, providing a framework for invitations to tender, the award of contracts, challenges to procurement exercises and generally, the manner in which procurement by public bodies should be conducted."
He said the implementation of the TT Revenue Authority allows for the government to demystify revenue collection and make it easier for taxpayers to pay their taxes.
"(It) allows for complete digitisation of the process, thus removing the need for cash payments and long lines at various revenue offices," he said.
He added that the authority would serve as a platform for the public to interact with revenue collectors in a more meaningful way.
The Gambling and Gaming Commission, which was established through the partial proclamation of the Gambling and Gaming Act, also promotes transparency. He said the commission has been building its capacity over the years and the legislation is expected to be fully implemented by December this year.
"The creation of the Gambling Commission by legislation is not just a regulatory measure but a commitment to transparency, integrity, and accountability in the gambling sector," he said.
"TT is one of the few countries in the world which has a largely unregulated gambling industry, with all of the attendant problems associated with a lack of proper oversight of gambling and gaming. We are addressing several critical areas by instituting a dedicated body to oversee and regulate gambling activities."
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