Dismantling KIIFB will set back Keralam’s development by 30 years, says Isaac

Communist Party of India (Marxist) [CPI(M)] Central Committee member and former Finance Minister T.M. Thomas Isaac has alleged that attempts to dismantle the Kerala Infrastructure Investment Fund Board (KIIFB) will derail the State’s development plans and push Keralam’s progress back by at least 30 years. He also accused the Enforcement Directorate of conducting a politically motivated investigation targeting former Chief Minister Pinarayi Vijayan and his family.

Dr. Isaac was speaking to reporters on the sidelines of the party’s extended Kasaragod district committee meeting on Thursday. He said projects implemented through KIIFB would take at least 30 years to complete if funded entirely through regular budgetary allocations.

Dr. Isaac alleged that there was a deliberate attempt to discredit KIIFB by highlighting its liabilities while overlooking the development projects it had financed. His remarks came amid references to KIIFB’s substantial liabilities in the State’s financial documents for 2026.

On ED action

Dr. Isaac also criticised the Enforcement Directorate’s (ED) action against former Chief Minister Pinarayi Vijayan and his family, alleging that Central agencies were being used for political purposes. He claimed that the objective of such agencies was to to harass and intimidate people. “What evidence does the ED have?,” asked Dr. Isaac, adding that the actions of Central agencies would be challenged both politically and legally.

The ED had previously initiated action against Dr. Isaac in connection with KIIFB-related matters. He had alleged that the action against him was politically motivated.