Cooks agency assures power funds will stay in Aitutaki

The head of the Cook Islands Investment Corporation is assuring the people of Aitutaki any funds held by the island's power authority will be invested to upgrade its power supply.

Late last month the board of the Aitutaki Power Authority was removed and former chair Allan Mills claimed this was to give the CIIC access to its financial reserves.

The corporation's Mike Henry rejected that.

He said the old authority was unable to use the funds, and the new Aitutaki agency, which would essentially be a state owned enterprise, will have the power to spend them.

"We believe that the funds generated in Aitutaki need to stay in Aitutaki and be used to benefit the people of Aitutaki. There is no question about that and there is no intention to change that. The ability to use those funds has to be put in place," said CIIC's Mike Henry.


Photo: Ewan Smith Aitutaki, Cook Islands.