Tuesday, September 21, 2010
Trinidadians laud Jagdeo's CLICO response.
A former sales director for Clico in Trinidad and Tobago, Mr. Harold Sookhan, has praised the Guyana Government’s move to help depositors of Clico Guyana get their money back after the company’s collapse.
The Trinidad Guardian newspaper said Sookhan commended President Bharrat Jagdeo’s rescue plan for Clico which he announced when he met policyholders at the National Cultural Centre in Georgetown last Thursday.
“For a poor country like Guyana, they have taken the bull by its horns”, he told the Trinidad Guardian, noting that President Jagdeo was finding the money to pay policyholders first and “will then deal with those responsible after.”
Sookhan and others in Trinidad and Tobago claim the life savings of Clico policyholders and depositors there are at risk of being decimated by the government’s plan for the company.
They argue that the plan to pay them in annual tranches will result in more than TT$8 billion in losses for them.