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Jan 17, 2012

Senator Singh supports write-offs

Doug Singh

Leader of Government Business, Senator Doug Singh, had another take. He pointed out that a majority of the mortgages being reconciled through the government initiative were granted under the previous administration.  In his opinion, Singh says that failure to service S.S.B. loans or neglect of that responsibility should go unrewarded; however, he acknowledges that that is not GOB’s intention despite lack of proper securities at the time the loans were being processed.

Doug Singh, Senator, Leader of Govt. Business

“Youre talking about a total of eleven loans of the first two hundred or something or so loans that were given during this administrations term of office and Madame President all the others were given during the previous partys term of office, every single one of them.  I am not going to call any names, I am going to stay away from that because I think that is distasteful personally, but I do want to make the point that there has to be proper analysis before one opens mouth and inserts foot. I have my reservation.  I really dont think that delinquency should be rewarded, philosophically, from a principle standpoint.  That is my position, I am not speaking for the Government of Belize, and I dont think that that is their intent.  Their intent is to offer relief.  I probably would have done it differently but that is my decision and I will say that openly.  If it disturbs me that there are people who, for the last ten years, who have gotten loans in 2001, 2002 and 2003 that paid little to nothing and some of these names I recognize also.  Some of these people could very well have done so and I think it is unfortunate that an institution perhaps didnt perfect the security enough to make these things worthwhile and to have done the job that was necessary way at the beginning to enforce the collection at that time to ensure that we didnt get there because certainly there was security in some cases.”

The accounting firm of Panel Kerr Foster has been contracted to do the external audit of the S.S.B.  The audit started today and interviews start next week.

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4 Responses for “Senator Singh supports write-offs”

  1. I Belize it says:

    Sounds like a lawyer pregnant with thought. What is his convoluted point besides not naming names, and not being personally distasteful? Usually in my silly world, delinquency means you seize the property, it is spelled out in a thing called a written contract. Did not something like this happen with the tourism port recently with somebody’s name who rhymes with Espat? I don’t understand the constipation or the tasteful point.

  2. Rod says:

    Useless corrupt people should not be advising anyone especially this incompetent persona.

  3. D Real Belizean says:

    Senator: i need wa meeting fi arrage my write offs tooo. Big Family deh yaaa.

  4. nosocialsecurity says:

    me too and tha not that much as what i am hearing and its for a good cause

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