Kerala Infrastructure Investment Fund Board (KIIFB) CEO & Member Secretary K M Abraham received a pay and allowance hike five times between 2019 and 2024, and in six years, he has received a total of Rs 2.73 crores as income, according to the reply furnished in the assembly by Finance Minister K N Balagopal.
According to the reply, the present salary of KIIFB CEO is Rs 3.87 lakh. In January 2019, he was given a hike of Rs 27,500, followed by Rs 27,500 in January 2020, Rs 19,250 in January 2022, Rs 19,250 in January 2023, and the latest hike was in April 2024, Rs 19250.
K M Abraham, who was the Chief Secretary of Kerala, has received Rs 2.66 crores as a salary component since January 2018. He has also received Rs 6.84 lakhs from surrendering leave and Rs 19,250 as a festival allowance. In a period of six years and nine months, Abraham's cumulative income as KIIFB CEO was Rs 2.73 crores.
In addition to K M Abraham, three former IAS officials are currently employed at KIIFB as Additional Chief Executive Officer, Special Secretary and Senior General Manager. The present payscale of Additional CEO is Rs 1.88 lakhs, Special Secretary ( Rs 1.1 lakh) and Senior General Manager (1.11 lakh).
K M Abraham also serves as the Chief Principal Secretary of the Chief Minister and Executive vice-chairperson of K-DISC. He doesn't receive pay for these posts, the Finance Minister said. Kerala Infrastructure Investment Fund Board (KIIFB) was established as the principal funding arm of the Government of Kerala in 1999 by the Kerala Infrastructure Investment Fund Act 1999 (Act 4 of 2000). Through various functions provided in the act, KIIFB aims to channelize fund for critical and large public infrastructure projects in Kerala, according to the website of KIIFB.