Thiruvananthapuram: As Finance Minister K.N. Balagopal presents the state budget with grand promises, a wave of criticism has emerged regarding the “extraordinary punctuality” in increasing the salary of KIIFB CEO K.M. Abraham. While many developmental projects announced in previous budgets remain on paper, the files pertaining to the CEO’s pay hike reportedly move with lightning speed.
Promises on Paper, Hikes in Reality
Political observers and critics point out a stark contrast in the government’s functioning. When questioned in the Assembly about the progress of various multi-crore budget projects, the Finance Minister often resorts to the standard reply that “information is being collected.” However, this administrative lethargy does not seem to apply to the remuneration of the KIIFB chief.
Salary Crosses ₹4 Lakh Mark
K.M. Abraham, who previously served as the Additional Chief Secretary (Finance), was appointed as the CEO of the Kerala Infrastructure Investment Fund Board (KIIFB) in 2018 following his retirement.
The financial details of his tenure have drawn significant public scrutiny:
- Initial Salary: Started at ₹2.75 lakh per month.
- Annual Increment: His contract ensures a fixed 10% annual increase.
- Current Pay: His monthly salary has now surged past ₹4 lakh.
- Total Income: In addition to his CEO salary, he receives a substantial pension as a retired Chief Secretary-level officer. Reports suggest his total monthly income from the public exchequer exceeds ₹6 lakh.
Critics argue that the responsibilities of KIIFB could have been handled by a serving Additional Chief Secretary, which would have saved the debt-ridden state significant expenses.
Political Storm: UDF Vows Action
The Pinarayi Vijayan-led government’s unwavering support for Abraham has made him a focal point of political attacks. Despite various allegations and complaints raised against him in the past, he remains a trusted lieutenant of the current administration.
However, the opposition UDF (United Democratic Front) has signaled that this tenure might be nearing its end. Political analysts suggest that if there is a change in power in the next election, the KIIFB CEO’s position will be the first to face the axe. The opposition has frequently labeled his appointment and the subsequent hikes as a burden on the state’s struggling economy.
As the state grapples with financial challenges and pending Dearness Allowance (DA) for employees, the “uninterrupted” growth of the KIIFB CEO’s salary continues to fuel a heated debate over the government’s priorities.
