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Jul 27, 2022

P.M. Briceño Reserves Comments on S.S.B. $7 Million Loan

Prime Minister John Briceño briefly weighed in on the controversial seven million dollar Social Security Board loan proposal to Pharmacy Express Limited. In a release yesterday, the private pharmaceutical company noted that it did not seek political or government influence to have the loan approved.  On the other hand, the Ministry of Health and Wellness has placed on record its objection to the proposal. Here is what the Prime Minister had to say.


Prime Minister John Briceño

Prime Minister John Briceño

“Legally remember that they are an autonomous body, and if Cabinet is to give a position right now, we would be opening up ourselves to a law suit and you know that there is a certain person jumping at the bit to be able to come and sue us. So, we cannot say anything right now, but the Ministry of Health has expressed some concerns and they I think have written to Social Security, and I think other citizens also will express their concerns. This shows that the process is working, you put in your application and then there is the investment process, group committee from within Social Security that makes a recommendation to the investment committee, investment committee then passes on to the board, then when the board agrees it informs the company that it was approved but that it is published to hear back from the people. Remember, this was a part of the reforms that were done after the G7, when we were saying that we have to put tighter controls in our money.”

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