New Government Endeavour: Saving the MPCB

According to Vishnu Lutchmeenaraidoo, Mauritius Post and Cooperative Bank (MPCB) needs to be saved, and the government will make sure to do so.

Vishnu Lutchmeeneraidoo

Vishnu Lutchmeeneraidoo

During a press conference today, the Minister of Finance, Vishnu Lutchmeenaraidoo, commented on the current ‘scandalous’ activities relating to the Mauritius Post and Cooperative Bank (MPCB). He has made a shocking announcement: according to him, an individual alone has borrowed around Rs 800 million. He stated that the latter does not have any intention to reimburse what has been lent to him. Furthermore, around Rs 1.7 billion in total have thus been given out as loans to people. He explained that the bank’s situation has destabilised because of this very reason.

Vishnu Lutchmeenaraidoo has promised that the government will find out about the Rs 1.7 billion. State lawyers will work on the case.

The minister has however reassured the clients that the bank will not be closing. Instead, he has said that they will “save the bank”. Also, its employees (330 of them) will not lose their jobs. He asserted that the MPCB will be made into an established bank. Rs 550 million will be invested for the purpose of strengthening it.

He has also indicated that Rakesh Gooljaury will be questioned by his lawyers.

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