Saturday, May 25, 2024

Social Security Board

Caye Caulker airport reopens

On Wednesday, September 20th, the Caye Caulker Municipal Airport reopened after renovation. The Belize Airports Authority (BAA) said that the airport underwent a transformation that will enhance the travel experience and safety for both locals and visitors to Caye Caulker. The airport closed on July 18th, and the BAA stated that the central repairs included improvements to the runway. Some of the issues included undulations considered dangerous for the routine daily flights operated by the local airlines, Tropic Air and Maya Island Air.

Caye Caulker Airport rehabilitation project underway

The Caye Caulker Municipal Airport is once again closed for much-needed renovations. The Belize Airports Authority (BAA) reported that the airport closed on July 18th, and after that, rehabilitation work started. As the airport undergoes significant upgrades, those planning to visit La Isla Cariñosa will need to do so via water taxi until works at the airport have been completed.

Northern Ambergris Caye resort acquires Beach Surf Rake to remove Sargassum

The Sargassum situation continues to affect Caribbean nations like Belize, which harms tourism. Stakeholders in places like San Pedro, Ambergris have joined the municipality in hiring labor to clean the beaches, but it has not been enough. The manual work even adds to the beach erosion, and it is hard to keep up with the daily influx. To get ahead of the game, Las Terrazas Resort north of San Pedro Town has acquired a special beach rake that can remove the rotting seaweed while leaving the sand behind.

Hol Chan Marine Reserve to secure SSB loan to combat Sargassum

The beaches of San Pedro, Ambergris Caye, as those across the country, are again choking with the heavy influx of the brown algae known as Sargassum. It has become an inconvenience making the shoreline unattractive with the rotten seaweed and threatening the local tourism industry. The Hol Chan Marine Reserve (HCMR) is securing a $3.5 million loan from the Social Security Board (SSB) to address the situation. Some consider this move by HCMR frivolous and that the Government of Belize should bear the expense. The Hol Chan management, however, explained the need for the loan and what the project was all about.

Pharmaceutical company withdraws $7 million loan application from SSB

Last month, a 7 million dollar loan from the Social Security Board (SSB) Investment Committee to Pharmacy Express Limited (PEL) raised concerns among the public. The Ministry of Health and Wellness (MOHW) also raised concerns about the loan application. The ministry claimed the company did not have a pharmaceutical license. On Thursday, August 11th, the SSB issued a statement revealing PEL’s decision not to proceed with the loan application.

SSB loan proposal for pharmaceutical company raises concerns

Over the past few days, the news of a multi-million proposed loan from the Social Security Board (SSB) Investment Committee to a pharmaceutical supplier known as Pharmacy Express Limited has been raising eyebrows within the public, including the Ministry of Health and Wellness (MOHW). The loan application from the said pharmaceutical company is for $7 million and is needed for 'refinancing and inventory purposes.'

Increase in Social Security contributions go into effect in April

The scheduled increase in Social Security contributions goes into effect on Monday, April 4th, translating to a rise from 9% to 10% and raising the insurable wage ceiling from $480 to $520. This upcoming change increases the maximum cash benefit of $416 weekly for short-term benefits and $312 weekly or $16,224 yearly for pensions.

Increase in Social Security contributions deferred again

The scheduled increase in social security contributions that was to take place on January 3rd is postponed until April 4, 2022. The contributions rate will increase from 9% to 10% and raise the insurable wage ceiling from $480 to $520.