BREAKING: Social Security Board announces Pharmacy Express Limited withdraws application for $7 million loan

Published by BBNTEAM at August 11, 2022

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Posted: Thursday, August 11, 2022. 5:41 pm CST.

By Aaron Humes: On the heels of a publicized raid of its premises in Belize City on Wednesday, the Social Security Board (SSB) has announced that Pharmacy Express Limited (PEL) has withdrawn its application for a loan of $7 million, which it has accepted.

In a statement, SSB said it had received only one written expression of concern during the period of public notice provided for by law after its announcement of the application, from the Ministry of Health and Wellness.

But it was a consequential one, as the Ministry claimed that PEL was not in possession of a pharmaceutical license to operate and therefore should not have been dispensing or supplying pharmaceutical products to the public.

SSB said it offered PEL an opportunity to reply, but as of August 10 the company had not, and the sole communication on its records is the August 9 letter of withdrawal.

The Board has thanked the public for its participation and reiterated its interest in safeguarding the Fund’s “safety and profitability.”

As for PEL, it has made no public comment on either the raid or withdrawal of its application. While some reports indicated it was threatening to sue for Police allegedly not having a search warrant during the raid on its Fort Street Tourism Village premises on Wednesday, attorney Senior Counsel Godfrey Smith indicated he was not able to fully comments yet. Likewise, firm principal Julius Zabaneh has been unavailable for comment on any aspect of recent events.

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