The CIIC manages all Cook Islands Government assets including land, buildings, interests on Rarotonga and the Pa Enua (outer islands). LOSIRENE LACANIVALU / 23051024
The Public Expenditure Review Committee has confirmed it is investigating the Cook Islands Investment Corporation (CIIC).
In response to queries
from Cook Islands News, PERC chairman Geoff Stoddart said: “We are examining
the finances of CIIC itself.”
Stoddart said “we do
not issue progress reports to the newspaper on the work of the Public
Expenditure Review Committee”.
As such, he declined to
comment on when the investigation started and when will the final report be
ready for Parliament, and whether there were other high-profile investigations
Cook Islands News made
enquiries with the CIIC on why PERC is undertaking this examination, what is
the expected timeframe of it, whether this is a regular occurrence, and who
will be interviewed about it.
However, a spokesperson
for CIIC said “these are questions only PERC can answer”.
PERC is an independent
committee tasked with investigating the use and appropriation of public funds.
The CIIC manages all
Cook Islands Government assets including land, buildings, interests on
Rarotonga and the Pa Enua (outer islands). The Corporation also manages the
governance of Crown Enterprises (subsidiaries, associates, State owned
enterprises and Crown Controlled Entities) on behalf of Government.