employees.

Finance Minister Dr Nigel Clarke said the Government’s intervention to cover the operating expenses at fraud-hit Stocks and Securities Limited (SSL) is not a bail-out. Clarke made the claim in an X (formerly Twitter) Spaces on Friday.

He explained that based on the timeline since January, SSL no longer has the capacity to sustain itself and cover its own bills. These bills include the lease of the building from which it operates, legal fees, and staff costs which amount to around $14.5 million monthly. Of the amount, $9.5 million is for paying the 22 remaining employees, down from 33 in January. SSL staff stayed off the job last Thursday after the August payroll was delayed.

“I would ask for your reasonable understanding. If we’re interested in getting to the bottom of it, this is a choice that we have to make. It does not represent the support of the shareholders of SSL and does not represent a bailout of SSL. For there to be a bail-out, there has to be a benefi

https://www.jamaicaobserver.com/business/no-bail-out