'Joint Agenda to Sabotage Kerala's Development': Finance Minister Slams Congress, BJP Over KIIFB Row

File photo of Kerala finance minister Thomas Isaac.

File photo of Kerala finance minister Thomas Isaac.

Issac alleged that it was RSS leader Ram Madhav who gave the green signal to file a case against the KIIFB.


Neethu Reghukumar

Kerala Finance Minister T M Thomas Isaac on Monday hit out at the Congress and the BJP over the Kerala Infrastructure Investment Fund Board (KIIFB) row and said it was a "joint agenda" to destroy the investment body and sabotage Kerala's growth.

Congress legislator V D Satheeshan on Monday moved a breach of privilege notice against the minister. The ruling Left and the Opposition parties have been locked in a war of words over the last two days on the CAG's draft report on Kerala Infrastructure Investment Fund Board (KIIFB) which allegedly said it was raising loans "unconstitutionally".

Issac alleged that it was RSS leader Ram Madhav who gave the green signal to file a case against the KIIFB. In a Facebook post, he said that the Jagaran Manch leader filed a case in the high court following a meeting at Thrissur Ramanilayam.

"Congress leader Mathew Kuzhalnadan has taken the axe of the RSS conspiracy to overthrow KIIFB and destroy Kerala's development.The withdrawal of the case and the subsequent re-filing of the case by impleading the CAG were part of a planned conspiracy. We cannot allow this conspirators to destroy Kerala," he further wrote.

The KIIFB is a government owned financial institution in Kerala to mobilise funds for infrastructure development from outside the state revenue. It is a statutory body constituted under the Kerala Infrastructure Investment Fund Act, 1999 (Act 4 of 2000).

Meanwhile, Kuzhalnadan, KPCC general secretary, rubbished the allegations of conspiracy with BJP and RSS. "It is unfortunate that a senior leader and finance minister has preferred to come up with political allegations when he is unable to answer the cardinal questions raised with respect to the constitutionality as well as the financial viability and genuiness of the functioning KIIFB," he said.

Mathew added that KIIFB has raised 2,150 crore by masala bonds. "As Opposition we initially raised many concerns and the constitutionality is under challenge in the high court. I am appearing on behalf of the petitioner as a lawyer. I stick to my political stand that there are serious problems with the functioning of KIIFB and constitutionality of issuing Masala bonds," he said.

He added that the finance minister's allegation is absolutely ridiculous adding that if he is able to prove conspiracy, he will leave politics.

The finance minister, in his Facebook post, added, "I heard Kuzhalnadan say that there is big corruption in KIIFB and that more information is not being released due to professional ethics. We do not want that kind of consideration. Why is the KPCC secretary hiding the details of the corruption he received? Feel free to reveal it. I challenge him. let the documents out. Let the people know, corruption stories. Why give us a free hand?"

Issac also said that the Opposition leader has been claiming for a long time that the KIIFB is a scam. However, he has not been able to substantiate his claims.

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