Thiruvananthapuram: The decision to keep KIIFB out of CAG audit came from UDF government, said Finance Minister Thomas Isaac. In the year of 2002 and 2006, they justified that stand saying KIIFB had its own auditing system rendering CAG lookup unnecessary. Thus the presentt hue and cry over KIIFB keeping it that way is simply incomprehensible, said Isaac.
The minister further said : Chennithala should explain how availing loans becomes unconstitutional and UDF should clarify if the govt must give up on its right to borrow.UDF has made KIIFB borrowings in 2002,2003 and at that time kept CAG at bay, asserting that the institution has its own auditing mechanism. Under the circumstance, Chennithala should explain how CAG documentation has now suddenly become sacred writ. First of all, Chennithala should answer why UDF originally barred CAG from auditing KIIFB, the minister said.
Read below : CAG asking to audit KIIFB(1) and UDF putting its foot down(2) -
