CAG report on KIIFB: Thomas Isaac alleges conspiracy against Kerala

Continuing to lock horns over CAG report on KIIFB, Finance minister Thomas Isaac on Tuesday claimed a political conspiracy h been hatched to choke Kerala's development projects, as Congress and BJP demanded his resignation for violating rms by making public contents before it was tabled in assembly.

Isaac, who h earlier stated that it was a draft report of Comptroller and Auditor General,today said it was 'a final report.'

Describing as one-sided CAG finding that Kerala Infrastructure Investment Fund Board (KIIFB)'s borrowing model was unconstitutional, Isaac told reporters at Alappuzha that discussions h been held with governmentbefore preparing it.

KIIFB is primary ncy of state government for financing large and critical infrastructure projects in state.

" issue is t wher it is a draft or final report.It needs to be seen how it would impact development in state. Congress-led UDF is keeping mum on this.What was t re in draft report..Four ps were ded in report mainly about constitutionality of floating masala bonds outside country as part of a conspiracy from Delhi," he alleged.

CAG's aim was to throttle state and scuttle its various development projects, Isaac claimed, ding a "big political conspiracy" was going on against Kerala.All political parties need to stand toger on matter, he asserted.

"This is unprecedented. We have to be vigilant and Kerala should stand toger against moves to destroy KIIFB," he said.

minister said KIIFB'smasala bonds were launched with RBI approval.Taking on Isaac, le of Opposition in state assembly, Ramesh Chennithala claimed masala bonds are t transparent.

minister h violated rms by leaking report to media even before it was placed in House and he should resign, Chennithala said.

UDF was being dubbed as against development, which was t true, he said, ding KIIFB projects should be implemented in a transparent manner.

"We are against kickbacks, commissions.We are t against KIIFB.We want transparency," he said.

BJP State president K Surendran said Isaac h violated oath of office by revealing contents of CAG report to media and chief minister should demand his resignation.

(IM CREDITS:PTI)