TUC not happy with Govt.'s take on CLICO Guyana

TUC not happy with Govt.’s take on CLICO Guyana

Feb 26, 2009 News

…authorities complacent – Witter

The Guyana Trades Union Congress (GTUC) has said that the union is dissatisfied over the callous manner in which the Government of Guyana and the opposition have been treating with the CLICO financial crisis given its implication for CLICO (Guyana).
At a press conference at the Critchlow Labour College yesterday, General Secretary (ag) of the union, Norris Witter, noted that unlike its counterparts in Trinidad and Barbados, the government and the opposition have been either evasive or mute on the matter that threatens the interest of thousands of Guyanese Policy and Pension Funds holders directly.
“Present and potential beneficiaries of the National Insurance Scheme are also at risk with the revelation by the Chairman, Dr Roger Luncheon, that the NIS exposure to CLICO (Guyana) can be so much as six billion dollars.”
He explained that the General Workers’ Union has brought its concern to the union as they have already taken steps to engage the employer, Banks DIH LTD, with a view of addressing it.
“The GTUC will be following these developments closely and will not hesitate to advise Pension Funds and policy holders accordingly. Too much is at stake.”
“If CLICO were to collapse because of CL’s financial crisis, then peoples’ money would be in jeopardy,” Witter said.
He added that if Government does not deal with the situation properly within a reasonable space of time, then the union will ask employees to collect their monies from CLICO, as the trade union represents approximately 60,000 persons who are policy holders at CLICO.
Meanwhile, as it relates to the national budget, the union is advising all trade unions that despite the fact that the 2009 budget has made no allocation for increases in public service/servant increases, increase in the income tax threshold, the lowering of VAT, or increase in Government old age pension, they should not despair, but resolve to struggle to realize their objective.
“This is the time for the labour movement to struggle for the restoration of the collective bargaining process consistent with ILO Convention 98- Right to Organise and to Bargain Collectively,” Witter said.