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Finance Minister Dr. Nigel Clarke
Finance Minister Dr. Nigel Clarke has said it is a matter of policy that the government foots the salary bill for staff at the fraud-hit investment firm Stocks and Securities Limited (SSL).
Speaking on Radio Jamaica's Hotline on Friday afternoon, Dr. Clarke said the monthly compensation bill amounts to an estimated $15 million.
"I will come to the public and give further details once they're available. But we're talking about 22 members of staff. The staff bill on a month basis is $9.5 million. There are the operating expenses of about $5 million and there are some one-off expenses," he disclosed.
Asked how long this arrangement would last, Dr. Clarke could not give a timeline but sought to assure that "it's clearly not an indefinite situation".
The minister said the government is committed to ensuring the probe into the fraud at the company continues unimpeded.
"We just want to make sure that the investigation can proceed to the point where the FID (Financial Investigations Division) can bring the matter to court," he insisted.
Investigators are probing a US$20 million fraud at SSL.
The opposition People's National Party has demanded that Finance Minister Dr. Nigel Clarke indicate the full cost to taxpayers of the investigations into the massive fraud at the investment firm.
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