NEW Party Kayseri Deputy Aşkın Genç reacted to the statement made by Kayseri Electricity Retail Sales Inc. (KEPSAŞ), a subsidiary of Kayseri Metropolitan Municipality, regarding the allegations of a 630 million lira investment fund transaction within Hedef Portföy, stating that "the transactions were in accordance with the legislation and the fund was withdrawn on September 5, 2026."
Genç stated that the answers given did not satisfy the public and pointed to the investment fund investigations that have recently come to the fore in Türkiye. Genç stated that the issue was also on the agenda of the budget discussions in the Turkish Grand National Assembly and said:
"For the last two months, our country has been sleeping and waking up with fund profiteering. We express it as the profiteering of 100 years, the robbery of 100 years. AKP officials also accept this profiteering. Today, the budget of the Ministry of Treasury and Finance is being discussed in the Parliament, and there we make our statements and questions to the face of the Minister of Treasury."
"THIS INSTITUTION ALSO INVESTED IN FUNDS"
Reminding that he called for a statement to the municipality after the allegations in Kayseri were reflected in the press, Genç emphasized that KEPSAŞ is one of the well-established organizations of the city. Young said:
"Of course, there was news in the media today, we also received information. We waited for the institution to make a statement, and we made our statement in the morning. The company that our people in Kayseri also know as the electricity company is KEPSAŞ. This institution also invested in funds, deposited 630 million TL and withdrew 675 million TL. I made a statement about this in the morning. I invited the metropolitan municipality to make a statement, because one of the main shareholders is Kayseri Metropolitan Municipality. Of course, electricity "The company is one of the well-established institutions of Turkey. It was founded in 1928 and is a very important electricity company, but at this point it seems that its managers are involved in the fund business."
"WILL YOU CONTINUE IF THE WITHHOLDING LOAD HAS NOT INCREASED?"
Reacting to KEPSAŞ citing the increase in withholding tax burden as the reason for exiting the fund, Genç argued that the company's statement left basic questions regarding the investment decision unanswered. Genç said, "A three-line statement... Will you continue if the withholding tax burden does not increase? The citizen is miserable, the citizen is hungry, the citizen cannot bring bread to his home, you are making transactions in the fund with the money of the institution, and you are making a profit. If you have so much money, reflect it on the citizens. If you have so much money, reflect it on the citizens' bills. 'The institution has not made a loss', who wants the institution to lose? But these are public institutions, they will act in favor of the citizens."
"YOU SHOULD BE WITH THE CITIZENS, NOT IN THE STOCK EXCHANGE OR THE FUNDS"
Genç, who also criticized the company management, said:
"If you have this much income, if you have this much profit, reflect it to the citizens, citizens cannot pay their bills. This statement has not satisfied the public. Give more accurate information about this profiteering. You should be on the side of the citizens. You should be on the side of the citizens, not on the stock market or the fund. We will follow up on this issue. I expect those responsible to be held accountable for this matter."
"YOU EXIT THE FUND ON SEPTEMBER 5, THE CRISIS EXPLODE ON SEPTEMBER 15"
Pointing to the company's announcement that it had withdrawn from the fund on September 5, Genç reminded that the problems related to investment funds were revealed to the public on September 15, and on September 17, the Capital Markets Board made suspension and liquidation decisions regarding the funds of seven portfolio management companies, including Hedef Portföy. Genç wanted to be clarified, within the framework of the developments, how the exit decision was taken. Asking whether KEPSAŞ carried out the transaction in question based on any prior information, Genç said, "You exited the fund on September 5, and the fund crisis broke out on September 15, and it was reflected in the public opinion. Who directed you to get the fund and from whom did you hear from, so you exited before the heist."
