Alappuzha: Chief minister Pinarayi Vijayan has denied all the allegations against the Kerala Infrastructure Investment Fund Board (KIIFB) here on Sunday.
The chief minister was speaking after inaugurating ‘Kerala Nirmithi’, an infrastructure expo showcasing projects being executed under the aegis of the KIIFB at Alappuzha EMS Stadium
He said that it was not right to destroy KIIFB by levelling baseless allegations. On the allegations related to YES Bank against KIIFB, Vijayan said that KIIFB had withdrawn its deposits from the bank. “It clearly shows the alertness and correctness of KIIFB. The public is not showing any interest in the allegations being levelled against KIIFB. The goal of the government is to complete projects in a time-bound manner,” he said.
“KIIFB has an inspection system that is foolproof. All its dealings — receiving and distribution of funds — are completely transparent. It ensures maximum quality for the projects and their execution in tune with the deadline. The listing of masala bonds on the London Stock Exchange shows that even agencies from abroad are taking notice of KIIFB’s activities,” said the chief minister.
Pravasi Chitty has been able to mobilize Rs 150 crore, and Rs 50 crore was collected through Pravasi dividend scheme in two months, he added.
“The state government has promised the people that it would undertake development projects to the tune of Rs 50,000 crore in five years. However, we have already taken up projects worth Rs 54,000 crore even before completing four years,” Vijayan said.
“Over 250 projects funded by KIIFB in the state are in the last stages of fruition. In Alappuzha, 86 projects worth Rs 3,187 crore have been given approval,” he said.
Finance minister T M Thomas Isaac presided over the function. Food and civil supplies minister P Thilothaman and PWD minister G Sudhakaran were also present on the occasion.
The expo will conclude on Tuesday.
The chief minister was speaking after inaugurating ‘Kerala Nirmithi’, an infrastructure expo showcasing projects being executed under the aegis of the KIIFB at Alappuzha EMS Stadium
He said that it was not right to destroy KIIFB by levelling baseless allegations. On the allegations related to YES Bank against KIIFB, Vijayan said that KIIFB had withdrawn its deposits from the bank. “It clearly shows the alertness and correctness of KIIFB. The public is not showing any interest in the allegations being levelled against KIIFB. The goal of the government is to complete projects in a time-bound manner,” he said.
“KIIFB has an inspection system that is foolproof. All its dealings — receiving and distribution of funds — are completely transparent. It ensures maximum quality for the projects and their execution in tune with the deadline. The listing of masala bonds on the London Stock Exchange shows that even agencies from abroad are taking notice of KIIFB’s activities,” said the chief minister.
Pravasi Chitty has been able to mobilize Rs 150 crore, and Rs 50 crore was collected through Pravasi dividend scheme in two months, he added.
“The state government has promised the people that it would undertake development projects to the tune of Rs 50,000 crore in five years. However, we have already taken up projects worth Rs 54,000 crore even before completing four years,” Vijayan said.
“Over 250 projects funded by KIIFB in the state are in the last stages of fruition. In Alappuzha, 86 projects worth Rs 3,187 crore have been given approval,” he said.
Finance minister T M Thomas Isaac presided over the function. Food and civil supplies minister P Thilothaman and PWD minister G Sudhakaran were also present on the occasion.
The expo will conclude on Tuesday.
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