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| SSMC workers at the Factory Social Centre |
BASSETERRE, ST. KITTS, MARCH 2ND 2006 - Severed employees of the St. Kitts Sugar Manufacturing Corporation (SSMC) who qualify for the third and final payment following the closure of the sugar industry, will be paid on March 13th.
This was disclosed by St. Kitts and Nevis Prime Minister and Minister of Finance, Hon. Dr. Denzil L. Douglas in an opening statement at his recent Press Conference.
Bringing nationals up to date on the payments made since the July 30th closure, Dr. Douglas said a line of credit of approximately EC$40 million was obtained from the St. Kitts-Nevis-Anguilla National Bank.
Dr. Douglas said that the first severance payment made in September last year was EC$18.5 million in accordance with the Severance Payment Act of 1986.
"The second payment was paid in December (2005) and this amounted to EC$4.5 million under the 1961 Agreement that was made with the St. Kitts-Nevis Trades and Labour Union and the owner of the industry at that particular time," said the Prime Minister.
He said the third payment of approximately EC$4.9 million would be paid on March 13th 2006.
"That gives us roughly EC$28 million with the balance of some EC$12 million being taken care of at National Bank," said Prime Minister Douglas, who added that those who want to "create political mischief will continue to be confused and so I cannot do anything about that. I can only give you what the facts are."
