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Jun 22, 2016

P.U.P. Says Cash-strapped Government is Attempting to Raid S.S.B.’s Purse

John Briceño

On Tuesday’s newscast, we broke the news that the S.S.B. has been asked to consider purchasing fifty million dollars of G.O.B. shares in B.T.L. and B.E.L. – a request by Prime Minister Dean Barrow himself. The plan is for S.S.B. for purchase ten million worth of shares in B.T.L. and forty-five million in B.E.L.  The Investment Committee met on Tuesday to discuss the proposal but C.E.O. Richard Flowers refused to tell us what came out of that meeting. Today P.U.P. leader John Briceño told News Five that the raid by G.O.B. on the S.S.B. piggy bank is being orchestrated quite simply because G.O.B. is broke and scrambling for cash.

 

John Briceño, P.U.P. Leader

“It has come to our attention that the government is raiding the poor people’s money from the Social Security Fund. We are just starting to get information right now, but when we look at the financials for the Social Security Board we notice that they have bought thirty-nine point five million in shares from B.E.L., and fifty million dollars of shares from B.T.L.  It seems that they have loaned five million to DFC and another two million to two and a half million to the national Bank. We now know that six hundred thousand dollars has been loaned to the Belize City Council. We are finding out that the Belmopan City Council and the twin towns of Santa Elena and San Ignacio have also made an approach to borrow money from the Social Security to the tunes of millions of dollars. We don’t know how much exactly they plan to borrow. We’re raising the alarm now when we hear that the Social Security Investment Committee is looking at the possibility of investing another fifty million dollars into the utility companies in Belize. The concern that we have here Mike when it comes to B.E.L. and B.T.L. – with that fifty million we are looking at investing in these two utilities almost one hundred and forty million dollars. We know that the government is broke. The government is desperate for money. Last month they had to go into overdraft to be able to make salaries so now they are looking to dump shares and forcing it down on Social Security by raising the social Security Fund, the poor people’s monies.”

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