GREAT BAY, St. Maarten (June 29, 2012)- Minister responsible for tourism, Economic affairs, Transport, and Telecommunications Romeo Pantophlet stated that his ministry will soon be having a meeting with the board of GEBE Electrical and Water company to address the fuel clause, and the gas and fuel prices. “You may have noticed that since taking office, we have been experiencing some downward trends on the world market, and they are also affecting the prices here locally”.

“The fuel prices, gasoline, diesel and LPG, are going down “The minister further said that his ministry also intends to stimulate business, and eliminate backlogs in business licenses. “We intend to diversify the Economy; as you know, St. Maarten depends heavily on one industry which is tourism, and I think that’s it’s dangerous to rely solely on one product, so we will have to work hard toward diversifying the economy he said. He also stated that last week he met with representatives of the OPNA, and they will be making financing available for small and micro businesses on the island, thus stimulating entrepreneurship. Also, bank interest rates will be addressed. “We also intend to meet with the banking community where they will be addressing bank interest rates”. He added; “Worldwide bank interest rates are going down, and we feel that St.Maarten should be no different he said.