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Cabinet reportedly against Pharmacy Express $7 Million loan

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Posted: Monday, July 25, 2022. 9:16 am CST.

By BBN Staff: Pharmacy Express, the company at the center of controversy since the Social Security Board (SSB) announced a proposal to refinance the company in the sum of $7 Million; does not have the support of Cabinet, reliable sources tell Breaking Belize News (BBN).

Following a rare Sunday press release from the Ministry of Health and Wellness, in which the Ministry mentions “concerns” regarding this loan; BBN understands a majority consensus of Cabinet is staunchly opposed to the loan and has “shut it down”.

SSB, however, as an autonomous institution does not need to rely on Cabinet’s approval to grant the loan. Still, the Ministry of Health and Wellness “hopes to meet the autonomous SSB…before it makes its final determination.”

Members of the opposition and the general public have been in an uproar since the SSB Notice of Investment was made public late last week. Other particulars of the company haven’t yet been disclosed.

 

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