Stories
CPI(M) Leaders Slam Keralam CM Over Proposed KIIFB Restructuring Plans
- •CPI(M) leaders strongly criticized the UDF government and Chief Minister over the decision to restructure the Kerala Infrastructure Investment Fund Board.
- •The Chief Minister stated that an expert panel headed by Sudha Pillai flagged serious financial irregularities and huge liabilities within KIIFB.
- •Former finance minister K N Balagopal defended KIIFB, highlighting its crucial role in funding public infrastructure like schools, hospitals, and roads.
- •Balagopal expressed concerns that the restructuring might halt vital public projects or lead to the privatization of KIIFB initiatives.
- •CPI(M) Kannur district secretary K K Ragesh slammed the Chief Minister for allegedly promoting narrow regional sentiments regarding fund distribution.
Key Questions Answered
The expert panel, headed by Sudha Pillai, reported serious financial irregularities, rule violations, and massive financial liabilities within KIIFB, concluding that it has no case to continue as a separate borrowing and project-financing agency.
K.N. Balagopal criticized the move by stating that restricting KIIFB to only profitable projects would halt essential infrastructure works like building hospitals, schools, and developing MC Road, while raising concerns about public assets potentially being handed over to the private sector.
CPI(M) Kannur district secretary K.K. Ragesh strongly criticized Chief Minister V.D. Satheesan's remarks about a majority of funds being concentrated in Kannur, questioning whether it was wrong for the district to be on the state's industrial development map and claiming that other districts received higher allocations.
