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Bad mouthing cost millions Print E-mail
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Written by Administrator   
Friday, 19 February 2016 00:00

lisa shoman.jpg - 51.76 KbIt seems like these PUP operatives a.k.a. Chicken Littles or Blue-concas are set on opposing just for the sake of opposing. Maybe the reason for their behavior is because they have been in opposition for such a long time, that now opposing comes so natural for them. About three weeks ago, news surfaced that the Social Security Board was looking favorably towards granting a loan that had been requested of them by Santander, the company that is about to open a sugar manufacturing operation in the western part of the country.

Those PUP naysayers or as some people refer to them as BLUE-CONCAS went on an all out offensive to badmouth the SSB and by extension the government. The granting of SSB loans under a UDP administration unlike under a PUP administration is not about a handshake and any old piece of paper that is only fit to line a birdcage. The SSB under the UDP does it’s DUE DILIGENCE through it’s Investment Committee. After that due diligence is done that report goes before the Board of Directors of the SSB. If the report from the investment committee is negative then the board does not proceed with the loan or whatever sort of investment is before them. However if the report is positive then the board may agree in principle and go on to the next step and make it known to the general public and ask for comments and input as per the SSB Act. It is only after that period is completed that the board finally decides based on all the information before them, if they will or will not proceed with the granting of that loan or making that investment.

So the Lisa Shomans, Mose Hydes, Louis Wades, Glenn Tilletts, Marshal Nunez, G. Michael Reids, Ronoldo Zetinas et-al of the world needed not to worry about the present SSB making an Intelco type loan. Even John Briceno knew that and said as much last week. The noise caused Santander to withdraw it’s request for the said loan. It did so last Friday when it informed that it had gone elsewhere for the loan, that made us draw the conclusion that they did not want the name of their company to be a part of any political smear campaign. The long and short is that the PUP assault cost the SSB and the POOR Belizean worker of the past, present and future EIGHT POINT FOUR (8.4) MILLION Belize dollars that the SSB Fund would have made on that Twelve million dollars loan over the 10 year life of that loan.

Last Updated on Friday, 19 February 2016 14:41