The Vanuatu Peoples Equity Investment Fund, VPEIF has again come under the spotlight. This time the issue came about from a different angle but ended up questioning how the VPEIF manages and administers it members funds.
Though an official complaint is yet to be lodged, it seems members have been kept in the dark to how their money or savings with VPIEF is being used. A lot of members are now asking VPEIF to provide an audit into how their money is being spent.
A lot of commentators on YTS question Mr. Kalnpel and one member, GJP Candidate for Port Vila, Ralph Regenvanu has said “The whole idea of VPIEF from the very start was as a vehicle for the Vanuatu Presidential Party following their failure to get any candidates in the 2012 general election. Why else does the (unelected) board of the VPIEF, conveniently started just after the 2012 election, consist of the executive committee of the Vanuatu Presidential Party? The idea was to get people hooked with a financial commitment so they can be persuaded in the 2016 election that the concept cannot work and they cannot get their money back UNLESS they vote for their candidates. Exactly what is happening now. It was never intended to be an economic venture, it’s just pure political strategy”
High ranked Public Servants also voiced concerns and one Director General has said “What bothers me more than anything is that VPIE candidate(s) will use the savings of very innocent, unwary citizens who are still waiting payment of dividends to begin with. Suddenly now their hard earned investments would be squandered in a political campaign? Truly amazing stuff ! Hard to believe, hard to comprehend. And quite frankly, shocking”
It is now seemingly clear that Louis Kalnpel has with the Presidential Party fooled a lot of people into becoming members. With the huge membership, the use of the members money is indeed questionable as the organisation has started to use members fees without them knowing for this snap elections.
The issue continues but public opinion has now gone against the Presidential Party for using VPEIF as it’s financial arm for politics. A lot of farmers are members and since VPEIF started a few years ago to date, not one member has been paid a dividend.
People do support the rights of the members of the Presidential Party, but say the party must be fair in allowing the members of VPEIF to know how their savings are being used to fund politics.
A lot of people say the Presidential Party in its quest for political power will if not careful, commit the biggest scam in our history.