The Tribune

By KHRISNA VIRGIL

Tribune Staff Reporter

kvirgil@tribunemedia.net

PRIME Minister Perry Christie yesterday suggested that the compensation packages of all executives in government corporations could be subject to review.

The government’s concern in this regard, he said, came to light with information that was leaked weeks ago that revealed the salaries and bonuses of high ranking officials at National Insurance. The leaked information has led to a forensic audit at the Board.

“There is no doubt,” Mr Christie said, “that we have to be concerned at what we have seen in salaries in different corporations where there seems to have been an uncoordinated approach to salaries in different agencies of the government. It is a matter that has concerned me.

“We are going to learn from the National Insurance experience.

“We have to apply the lessons once the audit report presents itself. It has to be actually seen by the Bahamian public to result in a major effort to ensure that everything is in order.”

Mr Christie’s affirmation came in response to questions on whether hundreds of promotions were last week given to employees at NIB. However, Mr Christie said he could not confirm if the claims were true.

Moving forward, NIB could now be subject to another assessment, this time in regard to actuarial matters and the sustainability of the fund.

“I am sufficiently concerned to want to give consideration to having an assessment done, and not to be unfair to the existing actuary who is in post, to maybe have an independent actuarial assessment done so that we can actually be satisfied as to the sufficiency of the fund. And that it actually is able to fulfil its mandate and still be safe and secure for future generations of Bahamians.”

“Because of the nature of the (NIB) controversy we may serve the interest of the public more effectively if in fact we resorted to having at this juncture an independent assessment after we have finished with what we are doing now and everything is settled down.”

The ongoing NIB debacle has led to heavy criticism of the Christie administration. Two weeks ago Mr Christie defended his government’s decision to have NIB chairman Gregory Moss remain active in that capacity. Moss has been at the centre of a heated battle along with Board Director Algernon Cargill who has since been suspended from NIB.