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Ministry of Health and Wellness concerned about SSB’s $7 million loan to a pharmaceutical company

Posted: Sunday, July 24, 2022. 6:53 pm CST.

By Benjamin Flowers: The Ministry of Health and Wellness is the latest entity to raise questions about the Social Security Board’s decision to issue a $7 million loan to a company called Pharmacy Express.

In a rare Sunday evening press release, the MOHW said that it did not know of the SSB’s intention until it saw the public notice announcing the 10-year loan which is said to be for “refinancing and inventory purchases.”

“The ministry places on record some concerns related to this loan and hopes to meet the autonomous SSB to relay its concerns before it makes its final determination on this proposed loan,” the MOHW said.

Recently, opposition member Tracy Taegar Panton raised the issue of the $7 million loan, questioning, among other things, the interest rate on repayment.

 

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