Where we stand‎ > ‎News & Comment‎ > ‎

NO MORE TEARS! NO MORE FEARS!

posted 7 Jul 2014, 12:20 by Gerry Kangalee
On Friday 4th July 2014 workers of CLICO/BAICO once again hit the streets as they picketed the central bank on independence Square, Port of Spain.

The picket was to draw attention, yet again, to their plight as the almost forgotten victims of the CL financial scandal that may have cost more than $20 billion in public funds to bail out the Duprey empire which came crashing down in 2009 due to the unsustainability of the financial practices and blatant greed of those who posed as masters of the universe and have since been exposed as no more than common crooks: briefcase bandits.

The workers have been strung along by the central bank which has assumed ultimate control of the companies and through the Ministry of Finance has been proposing different scenarios for the future of the companies, yet hasn't been able to settle on any.

Since 2012, finance minister Larry Howai promised that the companies would be merged and a new company called ATRIUS would be formed. this would enable the workers to receive termination benefits and even to be re-hired  at the new company. When no action was forthcoming workers took to the streets in May 2013.

During that picket, Minister Howai, once again promised that the company was being set up, that a board would have been appointed the next week.  More than a year has gone by since. now the government is saying that that they have shelved the Atrius project and are attempting to sell the assets of the companies

In the meantime, the workers' lives have been stagnated and they are demanding that a decision be made as to the future of the companies so that they could receive termination benefits and move on with their lives.

Rae Samuel of the National Workers union was at the picket and filed the following report
Comments