There has been a delay in the payout of money to Clico policyholders and Hindu Credit Union (HCU) depositors who were expecting their money for Christmas.
Finance Minister Winston Dookeran told reporters Saturday there is still some administrative work to complete for the payout to begin, adding that he hopes people will start receiving their money before the end of the year, with the rest in 2011.
Several thousand people are affected. Dookeran announced in the September 8 budget that Clico policyholders will get cash of up to $75,000 and the same amount would go to the HCU depositors.
“It won’t be before Christmas. There’s a lot that has to be done logistically,” Dookeran said. “The state of affairs of data was so bad. We don’t know whether we paying people who have and don’t have policies.” Dookeran said.
He added that people would have got their money as promised if the Government did not have to go through the maze of paperwork.
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Jai & Sero
Our family at home in Toronto 2008
Amit, Heather, Fuzz, Aj, Jiv, Shiva, Rampa, Sero, Jai
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