Hedging around the purchase of fuel: Pravind Jugnauth calls for an investigation
10 October 2011
MedPoint The case was one of the main topics discussed today by the leader of the MSM at its press conference.
"People understand that MedPoint is not the case of MSM, but the Labour Party. I am convinced that the whole truth about this affair will break out soon," launched Pravind Jugnauth.
The leader of the MSM has also made allegations against the Minister of Higher Education. He alleged that Rajesh Jeetah have given verbal approval to his "lieutenants" for them to go ahead with a contract of 'hedging' surrounding the purchase of petroleum products. He called for an inquiry, chaired by a judge of the Supreme Court to place the responsibility in this matter.
Pravind Jugnauth According to this decision, which cost the country Rs 5.4 billion, would not was endorsed by the Cabinet at that time. He maintains that he has the documents to "prove his claim." This decision, he said, was taken July 22, 2008 the time when Rajesh Jeetah was Minister of Trade and Industry.
The leader of the MSM claims that Rajesh Jeetah would have received at his office the representatives of two companies specializing in field of 'hedging', including Morgan Stanley company and Mitsui & Co. Energy Risk Management Ltd.. "Missi Jeetah PS so call time, Mr. Hossennee and director of STC then Soomarooah, and gives verbal Zotte Approval and say Zotte alle sign contract hedging ..." alleged Pravind Jugnauth. He said the agreement on ' hedging 'stated the price of $ 147 a barrel, while the same product sold for that moment to 127, $ 14 a barrel.