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PUP says “GOB is using the people’s monies to advance its political agenda”

The People’s United Party has expressed concern over the recent revelation that eighty percent of the Social Security Board’s investment portfolio of four hundred and fifty eight million dollars is held in government interests including loans, statutory boards and government-controlled institutions such as the National Bank. The PUP says quote, “Government is using the people’s monies to advance its political agenda,” end of quote and that it’s concern grows when since only a year ago there was over one hundred and thirty million dollars in liquid assets in the banks and today a mere twenty five million dollars is deposited in the commercial banks, and of this only sixteen million dollars is in short term deposits. The PUP continues by saying that it is a threat to contributors and beneficiaries of SSB whose payment of benefits, especially in the short and medium term, requires considerable amounts of liquidity.  The PUP is calling on Social Partners represented on the Board of Directors of the SSB to ensure that the fund is not placed in a position of undue risk.