ST GEORGE'S (CMC):

The head of the trade union which represents workers at telecoms giant, Cable and Wireless Grenada, has described government's decision to sell two-thirds of its shares in the company to the public as a backward step.

"This mechanism is an instrument for the unfair redistribution of wealth; it will only benefit a minority of individuals; it will not work in the best interest of the majority of workers who are presently faced with so many financial challenges; therefore, as an instrument for the fair distribution of wealth this is a backward social step," said Chester Humphrey, president general of the Technical and Allied Workers Union.

"You see, government represents the people and whatever dividends gained at the end of the year, it is then redistributed for the benefit of all through government projects; but with the shares going into the hands of individuals, there is no guarantee that the majority of people will benefit.

"What is going to happen is that private businessmen with liquidity and money will purchase the shares and the dividends will go directly into their hands. They can turn around and use it for anything from spending it lavishing in Las Vegas to reinvesting it. The point is there is no guarantee that the majority of people will benefit," Humphrey added.