KIIFB On ‘Ventilator’, Says Kerala Lop Satheesan

(MENAFN- IANS) Thiruvananthapuram, Feb 10 (IANS) In a stinging attack on the functioning of Kerala Infrastructure investment Fund Board (KIIFB), Leader of Opposition V.D. Satheesan on Monday, while participating in the Assembly proceedings, said the situation is such that it's on the ventilator.

“The question now is when should the ventilator be removed,” said Satheesan in a reply to State Finance Minister K.N. Balagopal's statement that KIIFB no longer needs any prop-ups.

KIIFB was established as the principal funding arm of the Kerala government in 1999 aimed to channelise funds for critical and large public infrastructure projects in the state.

The KIIFB project was touted in 2016 (when the first Pinarayi Vijayan government assumed office) by the former CPI-M Finance Minister Thomas Isaac, as his 'pet project' and it was seen by Isaac as one to raise funds outside of the budget.

For the past nearly one decade, the Congress-led Opposition was up in arms as they termed it as a utopian idea and one which would fall like ninepins.

The present rumblings against KIIFB started last week when news surfaced that the Vijayan government is going forward to collect tolls at all bridges and roads built using KIIFB funds costing above Rs 50 crore.

Seeking leave for an adjournment motion on KIIFB, Congress legislator Roji M. John said the reality is till now from 2016 just Rs 18,000 crore has been invested in projects and by now it has been proved beyond doubt that this is a failed experiment and now become a burden to the state exchequer.

But Balagopal said despite the strangling by the Centre, KIIFB has come of age and has been a success.

“In the best interest, the need of the hour is to stop confusing people in the name of tolls, as there is no need for such a concern. KIIFB will go forward as one which brings in income. The opposition here should not join hands with the Centre to put stumbling blocks for the growth of our state and John should realise that in his constituency itself, there are successful projects built using the KIIFB funds,” said Balagopal.

But slamming Balagopal for his curt remarks, Satheesan reminded him that the funds being raised come from the Petrol cess and half of the tax collected from vehicles.

“These funds do not come from the 'families' of you people (Balagopal and others). All know the source of it and every time a person buys fuel he is charged a cess and that comes into KIIFB. Hence any development that takes place is from 'our' own funds and there is no need to say developments took place in one constituency or the other, it's the right of the people,” said a peeved Satheesan.

Last week, Isaac had come under fire from several quarters after a somersault he made in 2016 when he said no toll would be collected.

“Times have changed. We will have to collect the toll on roads and bridges built using KIIFB funds,” said Isaac, last week.

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