The Solomon Islands National Provident Fund (SINPF) board and management has been called on to take Tavanipupu to court.
The call came following reports of the island resort’s accumulated loan arrears which hits the $20 million mark over the $15 million granted to the island resort.
“If the NPF board and management can take members to court and reclaim their property for failing to repay their loans, then there is no reason under this world to stop the NPF board and management to do the same to Tavanipupu,” MMF said.
Head of technical team Martin Housanau said the board and management have failed miserably at the first place on their decision to give the $15 million.
Adding, despite not using any economic models, they can simply tell its a bad investment.
Housanau said the chair of the board must be reminded not to blind the public over the Tavanipupu loan but to admit that they have made a big mistake.
He questioned why members when they fail with their housing loans are subject to court orders and not with Tavanipupu.
“NPF has to come out clear with its investment returns because it is not on to hide away with these loses the fund make on several of its onshore and offshore investments,” Housanau said.
He stressed that the NPF act should be amended to cater for public forums whereby members can share their thoughts about the future of the fund and contribute amicably.
Adding, it would be in the best interest of the fund to hold a public forum and let members talk and share their views about the fund performs.
“It is not good to make comments in the media because members can’t share their thoughts despite knowing the comments never satisfied them because they will never share their grievances or what they would like to see or want the fund to do,” Housanau added.
Meanwhile he maintains the call for the resignation of the chairman.
BY DANIEL NAMOSUAIA
