Investigation into VNPF management and investments beginsPosted: October 23, 2012
The investigation into the management of the Vanuatu National Provident Fund has begun, following the discovery of widespread nepotism in August, report Radio Vanuatu News and Daily Post. It has taken Government long enough to hire the auditors (Ernst & Young Australia), but it is said they will also be looking at the investment portfolio — most important in view of recent noteworthy changes in the nature of the securities the Fund uses. VNPF members will also need a report on the management appointments which enabled dismissed staff from Telecom Vanuatu Limited to fill important positions at the VNPF as if they are professional fund managers. The audit will be completed by the end of November. The report goes to the Minister of Finance and the Public Accounts Committee of the post-election Parliament.
The Head of State President Iolu Abbil has declared voting day, Tuesday 30 October, is a public holiday, as usual.
The Pacific Institute of Public Policy is hosting an event at Wan Smolbag tomorrow (Wednesday 24/10, 11:30–1:30) with all political parties invited to discuss their education, health and economic management policy platforms. It will be broadcast live on Radio Vanuatu and Television Blong Vanuatu. Free tickets are available at Smolbag from 10am.