We also asked the Prime Minister about the Public Sector Workers Trust and the fight over those 8 million dollars in back pay.
As we told you, Those funds date back to the Manuel Esquivel Administration. Back in 1995 to 1997, the former government imposed an increment and wage freeze for all teachers and public officers who were serving at that time. Former PM Esquivel gave them 450,000 shares in BTL to make it up to them. The dividends from these shares were supposed to compensate the teachers and the public officers affected by the wage freeze.
Over 20 years have passed, and those shares have matured with dividends of around 8 million dollars, which remain in the control of the unions and their Public Sector Workers Trust.
Over the years, several pressure groups made up of the original beneficiaries have agitated for the unions and the Trustees to hand over those funds. When the Prime Minister learned about the situation, he appeared to agree with them in principle.
We asked about it, and here's what the PM said:
John Briceno, Prime Minister
"That was just brought up to my attention yesterday at the show with Pastor Wade on Rise and Shine. One of the ideas that they presented which I would want to support is to be able to wind it up and to all of the people, because it's not everybody that will benefit, its only the people that were working. I believe that maybe we should wind it down, sell off the shares whatever excess we may have and then take the money and share it among the beneficiaries. Because if we have a group managing, we are spending the money and the real beneficiaries are not getting the necessary benefit that they should."
Reporter
"It creates a vacuum that the public sector workers trust, even though the funds, the beneficiaries from that 95' - 97', cohorts say they don't agree with that, they try to at least provide development opportunities for public officers."
John Briceno, Prime Minister
"The problem with that, it's not workable. I mean how many people are going to benefit? How many people will be able to borrow and let say they borrow and they don't pay or they say they will give out food and they gave out so much and they say they gave out much more. I think it has been there for so long, some of the beneficiaries have already died. I would have to get legal advice from the attorney general, but maybe its time to seriously consider winding it up and let the beneficiaries get what they deserve."
