‘We Can Proudly Say This Achievement Is Ours’; CM Calls ED Notice to KIIFB Absurd

Kochi: Chief Minister Pinarayi Vijayan on Friday dismissed the Enforcement Directorate’s (ED) notice to the Kerala Infrastructure Investment Fund Board (KIIFB) as “ridiculous,” alleging that it was a move timed ahead of the elections.

Speaking at the ‘Meet the Press’ event at the Ernakulam Press Club, he said KIIFB was created to accelerate Kerala’s infrastructure development. “During elections, such actions are to be expected. We will present our position before the judiciary with full confidence, as no rules have been violated,” he said.

The Chief Minister recalled that the government had announced in 2016 its plan to implement infrastructure projects worth 50,000 crore within five years. KIIFB, he said, functioned effectively as an alternative financing mechanism and undertook projects valued at 62,000 crore during that period. The total value of KIIFB-backed projects has now crossed 90,000 crore, he added.

“We can proudly say this achievement is ours. Every project executed through KIIFB has strictly followed guidelines approved by the Reserve Bank of India. There has not been even the slightest deviation from RBI norms,” Pinarayi Vijayan said.