The Finance Ministry will once again see members of the Pensioner Bondholders Forum picket at its premises on Thursday, June 1.
In a statement announcing their decision, the forum indicated that the government despite its initial agreement to pay the outstanding coupons on May 15, 2023, as agreed in a meeting with the Finance Ministry, failed to redeem its promise.
They explained that as a result, there have been two additional coupons since the agreement was made adding to the already existing coupons due.
The Forum said that they wrote to the ministry on May 15 and May 22 to demand payment and warned they would resume picketing, if their payments were not made, however, they are yet to get a response.
“As at today, the 29th of May 2023, there remain four outstanding coupons and four outstanding principals to be paid by the Ministry. The first principal has been outstanding for 98 days, the second for 84 days, the third for 42 days and the fourth is due today,” the forum stated.
“Naturally, we have to and had indicated to the Ministry that we shall demand interest on the delayed principals as the government has deprived investors involved of their capital for re-investment to earn returns,” they added.
The forum indicated that they have already informed the police of their intention to resume the picketing on Thursday, June 1.
“On resumption, we shall picket on Thursdays and Fridays of every week until the Ministry returns the payment of due coupons and principals to normalcy, that is pay on due dates without any delays,” they added.
Read the full statement below:
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