Prime Minister Dr. Ralph Gonsalves has made it clear that the National Insurance Services, NIS is on a firm financial footing.
Dr. Gonsalves gave this assurance, as he moved a resolution in Parliament yesterday, seeking to raise a loan of 15-million dollars from the National Insurance Fund, to liquidate outstanding contributions owed by the Government to the Fund.
The sum of 15-million dollars is being raised by the issue of treasury notes, representing an investment for the NIS to be paid over a ten-year period at 4.5-percent.
The Prime Minister assured the nation that the NIS is currently in a very good position relative to its cash flow, at this time.
The Prime Minister also noted that the loan is in keeping with the investment policy of the NIS.
And, three Government Bills received their first reading: the Firearms Amendment Bill, the Anti-Terrorist Financing and Proliferation Bill and the Electronic Funds Transfer Bill. Two of these: the Anti-Terrorist Financing and Proliferation Bill and the Electronic Funds Transfer Bill were sent to Select Committees. Parliament has been adjourned until Thursday October 9th at ten in the morning.