For Sale

PORT OF SPAIN, Trinidad, Sept 23, CMC – The Trinidad and Tobago government has confirmed that it intends to sell the financially troubled Colonial Life Insurance Co Ltd (CLICO), whose collapse in 2009 sent ripples throughout the Caribbean.

Finance Minister Larry Howai, speaking at the meeting of the Standing Finance Committee of the House of Representatives, said that the coalition People’s Partnership, which like the previous Patrick Manning administration had pumped billions (One TT dollar =US$0.16 cents) into the embattled company, would only agree to the sale, once the price is right.