NIC Responds To Criticisms

THE Board of Directors of National Insurance Corporation (NIC) has responded to concerns and criticisms regarding possible use of NIC funds for a $70 Million to $100 Million bridging finance facility.

The Leader of the Opposition Saint Lucia Labour Party (SLP) Philip J. Pierre was among the first to raise an alarm last week, which drew fierce negative criticism from Minister in the Ministry of Finance Ubaldus Raymond and the ruling United Workers Party (UWP).

Notwithstanding the minister and the ruling party’s denials, others have continued to sound alarm bells, including the St. Lucia Civil Service Association (CSA), as well as at least one NIC contributor, who issued an Open Letter to the NIC Chairman, Isaac Anthony, also raising questions and demanding answers.

In a public statement issued yesterday, the NIC said it “is concerned that the general public may have been misinformed by certain statements in the public domain in connection with a request by the Government of Saint Lucia to NIC for a bridging finance facility.”

In its statement, the NIC said, “We would like to assure all stakeholders, including contributors, pensioners, employees, and other service providers, that we would not take any decision that would either impair the Corporation’s ability to discharge its obligations in the normal course of business, or adversely impact the long-term viability of the Corporation.”

It added, “The long-term viability of the NIC is always foremost in our deliberations” and “We will continue to discharge that responsibility to the best of our ability.”

However, the NIC statement did not address any of the eleven questions raised by the Opposuition Leader, or the many included in the CSA’s public statement. (See all related statements on Pages 6 and 7)

Members of the NIC Board of Directors are Isaac Anthony (Chairman) and Frank V. Myers (Deputy Chairman), with Matthew L. Mathurin, Marcus Joseph, Nigel Phulgence, Paula Calderon and Wilfred Pierre as Board Members.