Minister of Finance the Hon. Michael Halkitis explained the government’s handling of the National Investment Fund (NIF) in a presentation to Parliament on Wednesday. This came after members of the opposition, led by leader Michael Pintard, questioned where hundreds of millions of dollars meant for the NIF had gone. Pintard also announced he would consult lawyers on the matter.
Prime Minister the Hon. Philip Davis responded to the opposition’s threats of legal action regarding the NIF on Thursday. Mr. Davis told reporters, “I welcome whatever political antics they think will get the answers. I thought, very thoroughly, the minister of finance explained what has happened, they explained where the monies went and it is very clear that there is nothing untoward. The irresponsible characterization of this matter as fraud without even knowing the facts. And the fact is this is a transparent transaction.”
Halkitis told parliamentarians the government obtained advice from the Office of the Attorney General when parliament authorized the borrowing of up to $300 million and approved the deposit of the funds into the NIF. The finance minister did not account for $700 million in excess funding.
Mr. Davis said, “governing is about priorities and choices. Our priorities, our choices would be different from theirs, and because our choices, our priorities are different from theirs doesn’t make it… no malfeasance. Why would they want to attach malfeasance or any untoward conduct on our part because they would have done it differently or they would have chose differently? That’s why they will remain where they are.”
