CIC to make final statement within one week
BASSETERRE, St. Kitts – THE Hon. Sam Condor - who holds responsibility for Social Security - has issued a response to the Chamber of Industry and Commerce (CIC) on the report sent to him surrounding the controversial Beacon Heights Project.
The residential development project received funding from the Social Security Board (SSB) in the amount of EC$80M and the understanding was that the first phase of the 191-home project –the construction of 10 homes – was to have been completed by mid-2011. However, by the end of that year, that phase was incomplete.
Other information which came to light suggested that the initial payout that the SSB was to have made is EC$50M with return on its investment. However, the return realised on its $80M investment was only $25 000.
The CIC established an in-house committee to report on a number of issues raised concerning the Beacon Heights Residential Development Project and that report was sent to Minister Condor sometime in February 2012.
This publication spoke with the CIC’s Executive Director – Calvin Cable – who indicated that Minister Condor had provided a response to the report.
He explained however that one meeting has been held since the response was received and another would be held amongst members of the committee that compiled the report.
The committee, he explained, would “assess this reply and will make a final statement within a week’s time”.
That meeting is expected to be held today (Mar. 20).
