Committee will explore immigrant investor fund
Last Updated: Wednesday, October 22, 2008 | 9:58 AM AT
CBC News
P.E.I.'s public accounts committee will proceed with its own investigation into the Provincial Nominee Program, and how hundreds of millions of dollars of immigrants' money was handled.
'Robert Ghiz campaigned on accountability and openness.'— Opposition MLA Jim Bagnall
The program, which ran from 2001 to Sept. 2 of this year, was designed to boost immigration to the province and raise capital funds for local business. In recent weeks, questions have been raised about where and how that money was invested, and regarding the involvement of government MLAs.
Last week, Progressive Conservative MLAs on the legislature's public accounts committee were delayed in passing a motion to investigate the PNP. There were concerns the committee's investigation could interfere with one underway by Auditor General Colin Younker, but he has now told the committee it can proceed.
"[Liberal Premier] Robert Ghiz campaigned on accountability and openness," said Conservative MLA Jim Bagnall.
"Here's his chance to supply the accountability and openness. If he wants to get to the bottom of this and bring this out, he will allow the committee to bring in whoever we want to get to the bottom of this issue."
A rush of applicants in the final months of the program generated $400 million, and the province is holding tens of millions of dollars in deposits.
