Home' Trinidad and Tobago Guardian : August 17th 2015 Contents A4
Guardian www.guardian.co.tt Monday, August 17, 2015
A group of Clico policyholders have given the
Government an ultimatum for addressing their
issues over recovering their full investments in the
failed insurance giant.
In a press release issued yesterday following a
meeting at the University of the West Indies (UWI)
Teaching and Learning Centre in St Augustine,
chairman of the Clico Policyholders Group Peter
Permell said his group, consisting of over 200
members passed a resolution to withhold their
support from the People s Partnership Gov-
ernment in the general elections on Sep-
tember 7 over its handling of the situation.
"It is noteworthy that the resolution
was unanimous passed by over 200 pol-
icyholders who present and voting," Per-
The meeting also unanimously agreed
to give the Government a deadline of August 21 to
respond to the resolution after which the group
would solicit the views of other political parties to
determine their stance on the issue if they are even-
In a brief telephone interview yesterday, Permell
said: "It is in their interest to solve this problem
before the election.
"You are going to make a bunch of people happy.
I can t say they going to vote for them but at least
you are going to have some people who might be
inclined to do so."
He said his members, who accepted Government s
payout plan last year, were seeking the balance of
their investments---their contractual entitlement
with the company plus interest, less the advance
of money they received as part of Government s
zero coupon bond issuing.
Stating that the Government has been "dragging
its feet" on the issue over the past few months,
Permell said: "There is a balance due to us because
the Minister of Finance and the Governor of the
Central Bank have both said to us that Clico is now
solvent. It means that Clico is now in a position
to pay the contractual entitlement."
Controversy has surrounded the policyholders
compensation following Government s bailout of
the organisation in 2009.
A plan allowing for full repayment was first pro-
posed by the then People s National Movement
(PNM) administration under former Finance Min-
ister Karen Nunez-Teshiera but was revised several
times by the current government before the final
scheme, which allowed for between 80 to 85 per
cent of their investment was offered to policyholders
After 24 years as MP
Now that he is leaving political office, Chandresh
Sharma says he is looking forward to spending time
with his children, especially his 25-year-old son, who
is suffering from cancer.
In an interview yesterday, Sharma declared
total support for chairman of the South West
Regional Health Authority, Dr Lackram Bodoe,
his childhood friend, who has been selected by
the United National Congress to contest the Fyz-
Sharma said since he became MP in 1991, he
has won seven general elections for the UNC.
Saying Bodoe has always supported him, Sharma
now it was his turn to
give support to Bodoe.
Asked how he felt
that he will now be
office, Sharma respond-
ed: "There is always a
human challenge to
replace a sitting MP. That
challenge was very well
handled by the screening
committee headed by
Sharma said he and
Bodoe grew up in the
same village at Siparia Old Road, Fyzabad and
attended the Avocat Vedic School. When they
wrote Common Entrance, Bodoe was the only
person who passed for Naparima College. Shar-
ma passed for Penal Junior Secondary School.
Sharma said Bodoe later became a medical
doctor and when Sharma was elected MP,
Bodoe gave voluntary service at Sharma s
community medical clinics.
"Lack was the best and I am very proud
to see that he got selected," Sharma said. He added
that 12 people, including himself were screened by
the UNC s screening committee. Sharma said if he
got the nod, he would have been happy to serve.
Asked why he was not selected, Sharma said he
believed the Prime Minister wanted him to spend
more time with his son.
"It is no secret that my son is ill and receiving
medical treatment. I did indicate to the Prime Minister
when my son first became sick that I would be happy
if a change takes place. Now that I am leaving office,
I will be spending time with my children. Since 1991,
I have never had a full-time vacation," Sharma said.
He said his children grew up in front of the Prime
Minister and were very close to her and her husband
Gregory Bissessar. Sharma said he planned to play
an active part in the UNC campaign. His campaign
team led by Haround Awardy, who worked with him
since 1991, will now work with Bodoe, Sharma said.
"I will be involved in the campaign. People are
thankful for the years I have served. I depart with
a high level of joy and I will continue to be available,"
In March last year, Sharma the then Tourism
Minister was investigated by the police for the
assault of his former girlfriend Sacha Singh, the
managing director of AMS Biotech Security
Concept and AmSure T&T Ltd. Singh said she was
assaulted by Sharma in the car park of Grand
Bazaar, near Toppers around 7.45 pm on March 12.
Sharma was subsequently cleared of any criminal
conduct after the police file was reviewed by
Director of Public Prosecutions Roger Gaspard.
Chairman of the Clico Policyholders Group,
Peter Permell address members during
yesterday's mass policyholders' meeting at
UWI, St Augustine. PHOTO: JEFF MAYERS
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