The Parliamentary Committee on Plan and Budget discussed the reports of the Turkish Wealth Fund

The TWF accounts for the year 2021 were discussed in the Planning and Budget Committee of the Grand National Assembly of Turkey. General Manager Ermut explained that in line with TWF’s investment plan in strategic sectors, it has become the largest shareholder of Türk Telekom with the process completed on March 31, 2022.

Stating that TVF has achieved a 61.68 percent stake in Türk Telekom, Ermut said: “This investment was by far the largest transaction of the year in terms of quantity.” Noting that they worked through different scenarios before making the purchase, Ermut said: “Even in the worst case scenario, we agreed with a price below the price range determined by the experts.”

Demand for 5G has increased

Noting that there was a huge demand in the field of technology, especially 5G, after the news of the deal was announced, Ermut said, “The demands conveyed to us by our young people increased our responsibility and reminded us once again how important we are. It is an investment that we have made. In addition to technology and infrastructure, we fully believe that the multiplier effect of the new era at Türk Telekom will be enormous. Turkcell and Türksat are also in our portfolio. We have the opportunity to create a very good synergy at the service of our country. We will work hard to make the best use of it,” he said.

“It’s almost time for İFM to open”

Ermut also gave information about the Istanbul Financial Center (IFC) and said, “There is very little time left for it to be commissioned. Our goal is to make IFC one of the top 10 international financial centers.”

* “IFM 1.4 million square meters of office space, 100 thousand square meters of shopping center, 2 thousand conference centers for 100 people, 1600 square meters of academy and research center, 30 thousand square meters of 5-bedroom hotel stars, 26 thousand vehicles Parking capacity and smart city model. Designed to meet all your needs. We do not see IFC as a real estate project.

* With the Istanbul Financial Center, we aim to create a multi-dimensional financial services ecosystem by bringing together the world’s leading financial institutions and companies. We believe that while IFC will contribute to the sustainable development of the Turkish economy and the development of financial markets, it will offer various business and investment opportunities to national and international companies and investors.”

AUDIT DISCUSSION

Criticism was also expressed in the commission regarding the audit of the TCA. Erzurum MP from the IYI party, Naci Cinisli, said: “It is said that 88 percent are subject to audit by the Court of Accounts, but the president of the Court of Accounts said: ‘They are not subject to us.’ There is a contradiction here, ”he said.

CHP Istanbul MP ​​Mehmet Bekaroğlu said: “There is no audit by the Court of Accounts, and neither is the Grand National Assembly of Turkey. The audit of companies is not only an independent audit, they must be subject to audit by the Court of Auditors.