Madam Speaker, I am informed that the Industrial Finance Corporation of Mauritius (IFCM) Ltd was incorporated in August 2021, but was officially launched and became operational in February 2022. With regard to part (a) of the question, I am tabling a copy of the roles and functions of the IFCM. Madam Speaker, with regard to part (b) of the question, I am informed that a total amount of Rs1,699,899,000 have been invested in the IFCM as follows – (i) Rs1 million by the Government of Mauritius at the time of its incorporation, and (ii) the balance of Rs1,698,899,000 through the National Resilience Fund. Madam Speaker, I am also informed that a Special Line of Credit to the tune of Rs5 billion has been made available by the Bank of Mauritius to the IFCM to operate its various schemes. Regarding part (c) of the question, I am informed that a total amount of Rs4.29 billion has been disbursed to some 298 enterprises since the operationalisation of the IFCM to date. With regard to part (d) of the question, I am tabling a copy of the list of the beneficiaries and the amount of funds allotted thereto. Madam Speaker, even a cursory look at the list would suggest the gross abuse of public funds where huge amounts were disbursed to the cronies of the previous regime. Let me just give you a few blatant examples – (i) Rs41 million to Kuros Construction Solutions Ltd – Rs41 million; (ii) Rs64 million to RGT (Healthcare) Ltd, belonging to Avinash Gopee, and (iii) Rs9.6 million to Artemis Hospital. A thorough audit will be undertaken to find out how these funds have been disbursed, Madam Speaker.

Thank you very much. Yes!

Will the hon. Prime Minister consider doing some investigations in regard to those allocations?

I think he just said that.

I just said that, Madam Speaker.

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Yes! Okay, thank you. Hon. Ramdass! CONSUMER GOODS HIGH PRICES – RUPEE STABILISATION –INFLATION RATE CONTROL