Wednesday, January 24, 2018

...PNM Govt failed to act, says Moonilal

Minister of Housing Dr Roodal Moonilal said yesterday that his Government’s delivery of promises would trump their (the Opposition’s) propaganda.

The MP for Oropouche East was speaking in Parliament at the International Waterfront Centre, Port of Spain, on the Hindu Credit Union (HCU) 2014 Bill which will allow Government the right to purchase and issue bonds to pay off the debt of the HCU.

Moonilal also blamed the People’s National Movement government for the current woes faced by the HCU depositors/ shareholders, most of whom belong to the working class.

“Over 100,000 persons have benefited from our initial phase one policy of dealing with persons of $75,000 and less. The government which gave a commitment of this on entering office has already paid over $60 million to depositors of the HCU,” unlike the PNM which make promises and never deliver, he said.

Moonilal added that it is often said that it is not important to focus on where the blame should be laid but on what is being done through policy actions and remedies, but in this case it was an exception to the rule.

Moonilal then went on to give several examples of how the PNM government failed to protect the HCU depositors and shareholders, including by going to court and attempting to prevent payouts to at least 14 depositors and shareholders.

Moonilal added that his Government was attempting to “rectify the wrong” that the PNM government had allowed to occur by refusing to do for the HCU shareholders what they had done for the Clico