Document Category: Annual Report

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For the financial year ending June 2025, the National Insurance Board reported a 5.30% rebound in contribution income, totaling $5 billion. While the number of insured contributors slightly declined to 473,707, benefit recipients increased to 230,722. Significant operational milestones included the successful EMPOWER digital transformation and a government amnesty that recovered $120.7 million in arrears.

In 2024, Trinidad and Tobago?s Counter-Trafficking Unit (CTU) modernized its operations by implementing a digital case management system and relocating to a new facility111111111. Vulnerable migrants, primarily Venezuelan nationals, remained the most frequent victims of sexual exploitation2. The CTU initiated 156 investigations and conducted extensive public awareness campaigns, including youth competitions and radio programs, to combat human trafficking3333333333333333.

In 2023, Trinidad and Tobago recorded its first conviction under the Trafficking in Persons Act1. The Counter-Trafficking Unit initiated 144 investigations, identifying 43 female Venezuelan nationals as victims of sexual exploitation, including 10 minors2222. Efforts included a comprehensive digital awareness campaign reaching over 71,000 people and expanded staff training in foreign languages and investigations333333333.

During 2024, the Teaching Service Commission worked assiduously to improve its efficiency and effectiveness in carrying out its constitutional mandate to appoint, promote, transfer and discipline officers in the Teaching Service. Key priorities included strengthening recruitment processes, advancing regulatory reform, and enhancing stakeholder engagement to support effective schooling nationwide.

The Police Service Commission continued to discharge its constitutional mandate during 2024 with a renewed commitment to transparency, fairness, and institutional integrity. Despite resource constraints and legal challenges, the Commission remained focused on ensuring accountable leadership within the Trinidad and Tobago Police Service and strengthening public confidence in its governance role.

The Central Bank of Trinidad and Tobago continued to pursue its mandate of monetary and financial stability during the year ended September 30, 2024, against a backdrop of moderating inflation and steady economic activity. The Bank maintained prudent policy measures while strengthening regulatory oversight and promoting resilience within the financial system.

The report outlines 2023 interception activities under the Interception of Communications Act, detailing warrants issued, offences investigated, and outcomes. It highlights major crime targets, data and speech interceptions, arrests, seizures of drugs, weapons, and currency, as well as prevention, detection, and disruption results supporting national security operations.

The Strategic Services Agency (SSA) understands and appreciates its role in nation-building. A risk-informed, resilient and secure society is well poised to facilitate sustainable development collectively as a nation-state and across every sector. Resilience from an intelligence and security perspective goes beyond returning to normalcy or ‘bouncing back’; I dare say it is about ‘bouncing forward’ or ‘building back better’. The SSA is an amalgamation of several defunct elite intelligence and security agencies; however, the vision of the SSA is not to return to the levels of functionality of its predecessors. Its vision is to advance or surpass those relics of the past and become a premier intelligence agency and the best in the region.

I am pleased to report that First Citizens Group Financial Holdings Limited and
its subsidiaries (collectively known as the First Citizens Group) recorded an 18.7%
increase in Profit Before Taxation (PBT) moving from $1.07 billion to $1.27 billion
as at 30 September 2024. The First Citizens Group also recorded Profit After
Taxation (PAT) of $957 million for the year ended 30 September 2024. This figure
represents an increase of 23.2% in PAT when compared with that for the year
ended 30 September 2023.

In accordance with the provisions of Section 20(1) of the Securities Act Chapter
83:02 of the Laws of the Republic of Trinidad and Tobago, I submit the Annual
Report of the Trinidad and Tobago Securities and Exchange Commission for the
financial year ended September 30, 2024 inclusive of a copy of the Annual Audited
Statement of Accounts certified by our external auditors.

The fiscal year marked the implementation of a pivotal institutional change in the waste sector, as
Cabinet took the decision to expand the mandate of SWMCOL to undertake the functions of the
Waste Recycling Management Authority (WRMA). SWMCOL’s expanded mandate primarily
included the implementation of the Waste Recycling Policy, 2015 and the development of a
National Waste Recycling Management Programme.

The Caribbean Leasing Company Limited (CLCL) registered as SBDC Leasing on October 1,
1997; began its operations in January 2001, as a fully owned subsidiary of the now defunct
SBDC/BDC. Its name was then changed to Caribbean Leasing Company Limited (CLCL) on
January 12, 2005. Its mandate was to assist micro and small enterprises (MSEs) to become more
competitive through the sourcing, financing and management of equipment and machinery for
plant upgrading and modernization.

In October 2012, BDC was instructed to terminate all operations at CLCL as BDC was to be
converted into exporTT – T&T’s sole export facilitation organization. No new leases were granted
from that date and the existing leases were administratively managed until maturity.

The portfolio of Public Administration was first established in 1991 in the Office of the Prime Minister. Since then, the Ministry with the portfolio of Public
Administration has undergone several changes in name, size and configuration involving the addition and removal of Information/Communication, ICT,
Telecommunications and Broadcasting and Property and Real Estate responsibilities. In August 2020, ‘Digital Transformation’ was added to the name of the
Ministry in recognition of the country’s thrust towards a Digital Economy through the realisation of a more Digital Government. In accordance with Gazette No.
158 of 2020 (refer to Appendix 1), the responsibilities of the MPADT fall into two main categories which seek to achieve Vision 2030 strategic goals within the
Theme II – “Delivering Good Governance & Service Excellence” and Theme III – “Improving Productivity through Quality Infrastructure and Transportation”:

The Trinidad and Tobago Postal Corporation (TTPost) (the Corporation) is a State Corporation,
formed by an Act of Parliament, the Trinidad and Tobago Postal Corporation Act No. 1 of 1999.
TTPost had its genesis in the General Post Office (GPO) from which it evolved, as part of the
Postal Sector Reform Program.

Established on November 12, 1980, the Trinidad and Tobago Solid Waste Management Company
Limited (SWMCOL) is a limited liability company exclusively owned by Corporation Sole. For
the fiscal under review, the Company continued to promote and advance the integration of the
multi-fold waste sector to increase its efficiency and strengthen the management of the country’s
municipal solid waste.

SWMCOL receives Government funding to manage three (3) national landfills, Beetham Estate,
Forres Park and Guanapo. All landfills in Trinidad and Tobago are classified as municipal solid
waste (MSW) landfills thus, all items/materials that fall outside the spectrum of regular MSW
are classified as Special Waste (this includes hazardous waste). The current commercial lines of
business of the Company are General Waste, Special Waste, Liquid and Hazardous Waste,
Waste-Paper Recovery and Portable Sanitation Rentals.

Fiscal year 2023 saw the end of a pivotal term for the previous Board, which
concluded in December 2022. In March 2023, a new Board was appointed,
bringing fresh perspectives and renewed energy to our efforts. On behalf of
the entire Board, I would like to express my deepest gratitude to our outgoing
members for their exceptional service and unwavering commitment. Dr.
Krishna Maharaj, Ms. Christine John-Guy, Ms. Crystal Edwards, and
Commander Israel Dowlat all played pivotal roles during their tenure, and
their contributions have left a lasting impact on the work of the CICB

The Company’s role and functions derive from its mandate to develop and redevelop East Port
of Spain to improve economic, social and physical conditions in the area. In this context, the
Company has responsibility for identifying and analysing community needs, development
challenges and opportunities; formulating appropriate development proposals in response and
identifying specific projects for implementation to address the needs and challenges.

Fiscal Year 2024 was a watershed year for the global economy, which the central banks of the
major developed countries continued the process of returning inflation closer to pre-pandemic
levels, and pivoted to a more neutral monetary stance. While the two years of the anti-inflationary
policies weighed heavily on the growth performance of some advanced economies, the United
States (US) was able to boast of a soft-landing in which the economy demonstrated remarkable
resilience. The sharp reduction in global inflation and the subsequent monetary easing boosted
international financial markets, which had a very positive impact on the Heritage and Stabilisation
Fund (HSF).

In accordance with the requirements of Sections 24(1) and (2) of the Public Procurement and Disposal of Public Property Act, 2015, as amended (“the Act”), I am pleased to submit the inaugural Annual Report of the Office of Procurement Regulation (“the Office”). In this Report, the Office has extensively addressed the performance of the public procurement and disposal of public property system and the work it has undertaken in the one-year period since full proclamation of the Act on April 26, 2023.

The Integrity Commission of Trinidad and Tobago is pleased to submit its Thirty-
Seventh (37th) Annual Report to Parliament outlining its activities for the year ended
December 31, 2024. The Report has been prepared in compliance with Section 10 of the
Integrity in Public Life Act, Chapter 22.01, which states: