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| SSB To Buy BEL Shares | | Thu, March 16, 2017 | | | In all the big business of Budget Monday at the House of Representatives, one major piece of news that got blushed over is Government's decision to sell 15 million dollars' worth of its shares in BEL to the Social Security Board. That's 3 million shares at five dollars each. Government needs the cash and says it won't change the government holdings in the utility. But the PUP says GOB is using Social security as a piggy bank:
Hon. John Briceño - Leader of the Opposition
"Pretty much the government is using Social Security as their piggy bank, transferring these shares so that they can try to prop up their budget, because it's a budget that's in serious trouble."
Rt. Hon. Dean Barrow - Prime Minister
"SSB which already owns as I indicated a substantial amount of shares in BEL since this government nationalize, has realize a significant return well above what it can get for any fixed deposits in the banks every single year. This is an investment in which SSB can't miss. You can't get anything by leaving the money in the bank. This is a sure fire investment that will help SSB."
And STAY tuned when we come back we'll tell you about the upgrade to PG roads and DRAINS.
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