Kerala: Opposition steps up attack against KIIFB

THIRUVANANTHAPURAM: The allegations raised by opposition against KIIFB on financial mismanagement causing heavy loss to the exchequer stands vindicated, said opposition leader Ramesh Chennithala in Pala on Thursday.
Citing TOI report about the loss to the state exchequer from heavy interest payments over the loans raised from the market, he said that KIIFB has transformed into a private kingdom."The chief minister is saying that there is no corruption in state. Now, it is not just corruption, but loot that is taking place here. In KIIFB and Kial, the government is looting by not allowing CAG to audit the accounts," he said.
KPCC president Mullappally Ramachandran also said that KIIFB is turning out to be a 'white elephant'. "The media report says that the company has caused at least Rs 10 crore loss in the first six months in the present year by availing loans at a high interest rate and depositing in a lesser interest," he said, citing TOI report. It is to cover this that the government is denying permission to CAG to audit KIIFB accounts, he said.
Tactic won't work: CM
Pala: After opposition leader Ramesh Chennithala alleged that there was financial mismanagement in KIIFB, chief minister Pinarayi Vijayan said on Thursday that his tactic on the KIIFB issue won't work. Vijayan was addressing an election meeting here on Thursday.