KIIFB borrowings: Finance Department's objections overruled, more evidence emerges

THIRUVANANTHAPURAM: More evidence has emerged of the Finance Department's opposition to KIIFB's borrowings during the previous LDF government's tenure. Finance Additional Chief Secretary Biswanath Sinha had warned that the borrowings would affect the state's borrowing limits and impose a huge interest burden. The details came to light after a copy of the minutes of a meeting held on June 6, 2023, was made public.

Biswanath Sinha raised the Finance Department's objections at the meeting, which was convened to consider providing an additional guarantee to KIIFB. However, the meeting overruled his objections and decided to extend the additional guarantee to KIIFB for another three years.

A week later, Sinha was transferred from the post of Additional Chief Secretary and appointed as Home Department Secretary.