We are #1 on Social Media

YTS RESPONSE TO VNPF GM: THE PUBLIC MUST BOYCOTT THE VNPF FORUM

This is the response from YTS to GM Achary Parmod

Dear Mr. Parmod, there are various important information that the public must have access to before sitting down with the VNPF Board, the VNPF Management and the Vanuatu Government and all that information is contained in the Commission of Inquiry report into VNPF and the Audit Report.

It is your duty as the General Manager of VNPF to ensure members have access to the reports but yet to date, you have not even spoken, nor made an effort of releasing or making public the reports.

GM Parmod, above all people, you as the GM of VNPF should understand that the public has provided its opinion as we have witnessed through social media and you need to take a proactive step in trying to provide clarity to the public by providing to them the reports which hold vital information to how members savings are being invested by the VNPF Board and management.

The Commission of Inquiry Report and the Financial Audit Reports which we understand date back to 2017 have never been released and despite the many organized forums by VNPF, these items still remain hidden from members and are still being kept in the dark.

The general public must go into any forum equip with proper knowledge of what is happening to their savings and what has happened already and there can no longer be any more excuses for the Vanuatu Government or VNPF to hold back information about the investments financed by members savings.

There is a lot of criticism towards members who complain and let me stress this to you, Mr. Parmod, that not only do these VNPF members know nothing about finance, but their savings are paying for your salary and VNPF Management need to show some respect.

There are construction workers, maids, cleaners, Cashiers, maintenance workers, bartenders, drivers, and the usual day workers who are paid on the minimum wage and whose savings VNPF is investing without them knowing.

There is no justice at all in that practice and this has to stop and it is your duty as VNPF GM to advise the Board on this matter but yet you choose not to.

The public does not need a Forum, they need the full Funds Audited Accounts reports for 2017 to 2019 and Mr. Parmod, we understand it takes about 3 months for VNPF to produce a Funds Audited Accounts report, so for you to come to tell us that you are waiting for December is a lame excuse and you are bluntly lying to members and the public as there is no report available for 2018 anywhere since you took over as VNPF GM.

General Manager Achary Parmod, it is your duty with the VNPF Board to release the reports and toying with members through a forum is not a practice you should be encouraging as all you do is answer questions without providing real evidence of a return of investments to the public.

GM Parmod, you started managing the VNPF in 2018 and you announced a 1% interest on members savings for 2017 which at that time you were not yet VNPF GM.

What about the interest of 2018 and 2019?

GM Parmod, why keep on talking about past management when you were brought in specifically to mend all their mistakes and properly manage the funds.

Mr. Parmod, you have failed the stakeholder’s demands by failing to declare an annual interest higher than 1.5% for 2018 and 2019 and we stand to be corrected but if you did, why not make the announcement?

The Public must understand Mr. Parmod, that you have publicly promised good returns for members on the first year you will manage VNPF which is 2018 and yet have failed on this promise.

There is no need for a forum till we understand why there are failing investments already there which you as VNPF GM do know about but yet choose to invest more of members’ savings into new investments which do not make sense at all.

GM Parmod, all the investments that have been undertaken by you and approved by the board need to be investigated.

The VNPF Forum is yet another cover up as the real issues are not being addressed and right now the real issues are to release the Commission Of Inquiry Report and also release the Audited Reports on financial accounts from 2017 to 2019.

YTS also asks the Vanuatu Media to ignore any publicity coming from VNPF Management till they provide all the information the public and members need about investments and certain issues happening inside VNPF that were funded by members savings.

Mr. Parmod, you have a lot to answer over the delay in the issuance of the Funds Audited Accounts to the public and that is something you must really think about.

The last comment Mr. Parmod Achary is if all is well with VNPF, why have you not in your state as GM, advise the VNPF Board, that VNPF release the Funds Audited Accounts reports and the Commission of Inquiry report?

As VNPF GM, your duty is to advise the board on matters that concern the well being and welfare of the VNPF and you are being paid to ensure members know everything that happens with their savings!.

VNPF members and the public will boycott the VNPF FORUM till the VNPF BOARDand VNPF MANAGEMENT release the Funds Audited Accounts and the Government releases the Commission of Inquiry Report!