“Gov’t has broke its promise to us” says some Clico shareholders

A group of Clico shareholders and depositors met today in opposition to the government’s planned bail out of the financial institution.
Peter Permell, one of the members of the newly formed group has called the People’s partnership offer to affected shareholders as a "broken promise".
Permell said the People’s Partnership has reneged on the previous People’s National Movement (PNM) promised to guarantee the deposits.
Finance Minister Winston Dookeran in his budget presentation two Wednesday’s ago told of the government’s intention to pay up to a maximum of $75,000 to depositors with the difference owed pain in equal installments over a 20 year period.