Minister of Finance, the Hon. Michael Halkitis delivered a communication in the House of Assembly on the National Investment Fund this morning.
This came after the Leader of the Opposition, Michael Pintard, questioned the government’s handling of the fund. He went as far as to say that he has asked attorneys to look into the matter.
Halkitis told Parliamentarians, “during the period before the Fund’s governance arrangements became fully operational, the Ministry of Finance acted on the basis that the Public Finance Management Act governed the administration and application of these public resources through the Ministry and the Treasury.”
The minister went further, stating, “the Government has sought settled advice from the Office of the Attorney-General concerning the interaction between the Public Finance Management Act, the National
Investment Funds Act, and the relevant parliamentary authority.”
You can review the presentation in its entirety below.
