ANN CROTTY: PIC – the piggy bank for all sorts of rogues
The PIC has been the go-to piggy bank for all sorts of rogues for too long
What a giddy prospect: a well-functioning Public Investment Corp (PIC) board. It wouldn’t necessarily change the country’s trajectory, but it could have a significant beneficial impact on it — and not just in the public sector.
The PIC has been the go-to piggy bank for rogues using the flimsiest of business proposals to dress up what were shakedowns. As the easy money from state enterprises dried up, the PIC became even more attractive.