The Pensioner Bondholders Forum have picketed the Finance Ministry to demand their total exemption from the domestic debt exchange programme.

The group started the picketing on February 6, 2023, to ask the government to exempt them entirely from the debt exchange programme.

The bondholders' demand comes after the new terms the government has introduced after various consultations with stakeholders.

Wielding placards whiles picketing the Finance Ministry on February 9, 2023, the bondholders insisted that until a meeting is granted them and a resolution is given to their plea, they would picket the premises every day.

Some of the inscriptions read: "Don't you feel our pain? Spare us this ordeal," "Pensioners have paid their dues to the nation", "Don't push pensioners to their early graves", "Don't turn pensioners into destitute", and "Pensioners deserve compassion not compulsion".

Others were: "We don't want to be a burden to society. We want to live off our bonds"," Keep Pensioners out of this" and "Total exemption of pensioners and retirees from DDEP".

According to the group, attempts to have their investment exempted from the programme have proved futile reason for their decision to picket 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 extended to February 10, 2023, due to technical hitches.

According to the Finance Ministry, the administrative window is to allow more bondholders to sign on to the programme.


SSD/FNOQ