The Barbados Private Sector Association (BPSA) is warning the Government against dipping into the National Insurance Scheme’s (NIS) reserves of $1/2 billion.
Chairman of BPSA, John Williams, said NIS’ funds were really not “excess” but money that was being saved now, to be called on in later years.
“It is not that we have a problem per se in the NIS buying Government debt, it is just that . . . Government and most Barbadians recognize that there has got to be changes to the wasteful and inefficient expenditure in Government, and we want to see those tackled rather than using the money from NIS or from any other source for that matter to pump into those entities.
Williams spoke to the SATURDAY?SUN in Jamaica earlier this week where he was among regional private sector leaders at Compete Caribbean – an Inter-American Bank-led initiative to increase private sector competitiveness in the region – which was launched at the Wyndham Hotel in Kingston. (GE)
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