Prime Minister Kamla Persad-Bissessar told reporters Monday government is trying to recover money that the State spent under a January 30, 2009 memorandum of understanding (MOU) between the Manning PNM administration and the CL Financial Group.
She said cabinet discussed the matter last Thursday.
“What we are looking at is some way that the State can recover some monies expended as a result of that MOU in 2009. There are several options. We are looking at those options and we will discuss it further,” Persad-Bissessar said.
She explained that the approach is different to the Clico proposals outlined by Finance Minister Winston Dookeran in the 2011 Budget, which include payments of up to $75,000 for individuals whit investments in CL.
Persad-Bissessar said what is planned is all part of a restructuring of Clico “to get an exit strategy as it were for all the stakeholders involved in the Clico matter.”
She said cabinet discussed the matter last Thursday.
“What we are looking at is some way that the State can recover some monies expended as a result of that MOU in 2009. There are several options. We are looking at those options and we will discuss it further,” Persad-Bissessar said.
She explained that the approach is different to the Clico proposals outlined by Finance Minister Winston Dookeran in the 2011 Budget, which include payments of up to $75,000 for individuals whit investments in CL.
Persad-Bissessar said what is planned is all part of a restructuring of Clico “to get an exit strategy as it were for all the stakeholders involved in the Clico matter.”
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