Special Purpose Vehicles (SPVs), he will state the number thereof established since 2015 to 2024, indicating…
(No. B/1) Mr R. S. Beechook (Second Member for Flacq & Bon Accueil) asked the Prime Minister, Minister of Defence, Home Affairs and External Communications, Minister of Finance, Minister for Rodrigues and Outer Islands whether, in regard to Special Purpose Vehicles (SPVs), he will state the number thereof established since 2015 to 2024, indicating, in each case, the amount of accumulated debt incurred therefor as at date. 17
Madam Speaker, I am informed by the Ministry of Finance that, on the basis of a survey carried out, 78 Special Purpose Vehicles have been set up over the period 2015 to 2024, and in that, it comprises 69 state-owned companies and 9 special funds, but in all 78. The outstanding debt of these state-owned companies at the end of December 2024 stood at some Rs33.6 billion. Rs33.6 billion! It represents 4.8% of our GDP, Madam Speaker. The list of the companies, including the special funds and their outstanding debt as at the end of December 2024, is being tabled because it is a long list, and we don’t have all the information yet.
Yes, hon. Beechook.
Does the hon. Prime Minister intend to come with a law or regulation that would make all these SPVs accountable to Parliament? Because they have been operating in total opacity till date.
This is why I tell people… You know, some people are impatient. We need to do all this. They will have to account for every penny that has been spent or stolen or whatever; it has to be accounted for.
Yes, hon. Third Member for Grand’ Baie and Poudre d'Or. COMMISSION ON PREROGATIVE OF MERCY – GRANT OF PARDON – BENEFICARIES - NAMES & OFFENCES – 2015-2024