Thank you, Madam Speaker. I am informed by the NTC that it has 93 employees governed by the PRB whose retirement benefit plan is carried out under the NTC Corporation Pension Fund. This fund which was created on 25 July 1979 in accordance with the Statutory Bodies Pension Funds Act is administered and managed by SICOM. The monthly contribution to pension fund for an employee is made at the rate of 11% of the pensionable emoluments by the employer and 6% of the pension emoluments by the employee. Madam Speaker, I am informed that the latest actuarial report of NTC Pension Fund dated 22 December 2022 indicates deficit of Rs231 m. This deficit has further increased to Rs285.4 m. as per the consultation with SICOM in January 2025. Rs285.4 m. for 93 employees tantamount to have to a hefty figure of more than Rs3 m. per employee. The actuarial firm recommended cash injections over a period of 5 to 10 years over a mix of cash injections over a period of 5 to 10 years and an increase of the contribution by 3% to address the situation. However, the recommendations were not implemented by the NTC. Madam Speaker, I wish to inform the House that the actuarial review is carried out every five years. The report in 2018 also indicated a deficit of Rs78.7 m. on the recommendations made therein were not implemented. It is worth mentioning that we are in this situation today as the past service deficit disclosed in previous valuations have not been funded. Compound with that, as I have mentioned the House before, the financial accounts of the last nine years were not prepared and audited for the NTC. These accounts, if prepared and audited, would surely have highlighted the situation of the pension fund and trigger appropriate notices by the Director of Audit. Thank you.

One? Two?

Two very small. Thank you, Madam Speaker. Je suis choquée mais bon. Would the Minister clarify the responsibilities of the management and the board members of the National Transport Corporation with regard to the pension rights of its employees? Thank you.

Madam Speaker, as I mentioned in the House before, and it is now already well-known, the NTC was marred in a quagmire of corruption over the last nine

48 years. There are several enquiries going on at the FCC for fake spare parts, for tyres that last only for 4000 km – never seen before! When I took office I cleanse to the management, we fired the then General Manager and now we are recruiting a new one through open advertisement; it is being evaluated now. All the board members who were there have gone as well including the ex-officials, it is only left with one person now and he is elected by the workers. His name is Mr Luchannah whom I have no say to his appointment over the board. I leave it to the employees of NTC to ask him how he has spent his years on the board of the NTC while this was happening before his own eyes.

Last question. Yes!

Thank you, Madam Speaker. Would the hon. Minister inform the House of remedial measures currently being envisaged. Thank you.

Well, first of all, to implement the recommendations of the actuarial review mainly to fund the past deficits I highlighted before. However, the NTC is now a financial situation that it is in and we only know the state of affairs once the audited accounts have been completed. Only then, we can know the financial means available at the NTC to fund the pension funds which are due to the employees. Thank you.

Thank you. I think we will break for an hour and a half. This time I am not mistaken. We coming back at to 14.30 hrs. At 1.02 p.m., the Sitting was suspended. On resuming at 2.33 p.m. with Madam Speaker in the Chair.

Please be seated! Okay, now I think we have hon. Second Member for Grand Baie and Poudre d'Or, Mr Beejan! MORCELLEMENT MONT PLAISIR, FOND DU SAC – FLASH FLOODS VICTIMS– COMPENSATION