The chairman of the Board of Directors of Vanuatu's National Provident Fund has warned politicians to keep out of the management of the Fund now that members' savings are going to exceed nearly 150 million US dollars by the end of the year.
The amount is almost equivalent to the National Budget.
The Daily Post newspaper reports Benjamin Shing as saying the warning is a public reminder of the political interference in the Fund in 1998 which triggered a massive withdrawal of members' savings, and the storming of the VNPF building by members of the public.
Mr Shing says the Fund has recovered quickly and with 47,000 members, it is going to be the largest holder of liquidity in the country in five years' time.
Mr Shing says the Fund is so powerful that it is time to amend the act to allow prudent investment activities to contribute towards the economic development of the country.
