Pensioners to picket at Finance Ministry over DDE

Pensioner Bondholders Forum, a group fighting for the protection of the pensioners who have invested in government bonds has vowed to picket at the premises of the Finance Ministry until its members are exempted from the Domestic Debt Exchange Programme (DDEP).

The group in a statement explained that attempts to have their investment exempted from the programme have not been fruitful, hence their decision to converge at the Finance Ministry until their demands are met.

“On 10 January 2023, we submitted a petition to the Minister of Finance to exempt all pensioners holding Government Bonds from the Domestic Debt Exchange Programme on the same basis used for the exemption of Pension Funds from the programme, as the impact of the programme on pensioners who are bondholders will be very severe.

“We have as of today not been granted the exemption we requested. To further press home our request, we have notified the Police that about 50 of our members intend to converge at the premises of the Ministry of Finance on every working day from 10 am-11 am, beginning from Monday 6th February 2023 till our request is granted by the Minister.”

The deadline for the government’s Domestic Debt Exchange Programme has been set for Tuesday, February 7, 2023.

The groups of Individual bondholders have also kicked against their inclusion in the government’s domestic debt exchange programme.

Organized labour on Wednesday, February 1, also reiterated its resistance against the government’s domestic debt exchange programme and assured that any attempts to repackage the programme to include pension funds will be fiercely rejected.