In a letter to the committee chair, PASOK MPs and committee members Pavlos Geroulanos, Dimitris Biagis, Milena Apostolaki, Michalis Katrinis, Pari Koukoulopoulos, Katerina Spyridaki and Christina Staraka call for the Superfund’s leadership to appear before the committee ‘in order to exercise substantive parliamentary control over its role, choices and priorities’.

They argue that, since the fund’s establishment in 2016, parliament – and, by extension, society – has not had ‘a clear and comprehensive picture’ either of how the fund manages its assets or of basic elements of its strategy. They stress that the Superfund manages a large portfolio of public assets and holdings, affecting critical sectors of the economy, citizens’ daily lives, and the functioning of the state.

The MPs also restate PASOK’s longstanding criticism of the institution, noting that the party, when in government, rejected the mortgaging of public property to cover public debt, voted against the bill that created the Superfund, and proposed closing it and replacing it with what it calls a genuine ‘National Wealth Fund’.

In the letter, PASOK’s MPs argue that parliamentary scrutiny is not a formality but a cornerstone of democratic governance. They say the Superfund should not operate ‘under a trusteeship regime and in complete opacity’, adding that in other European countries comparable bodies function as development policy tools with national ownership, transparency and accountability. They also argue it is unacceptable for public assets to remain unused for years or to be sold ‘without economic and development logic’ when they could support the national economy and local communities, ‘and that no one apologises’.

PASOK concludes that it is ‘absolutely necessary’ for the Superfund’s administration to appear before the Economic Affairs Committee to present its strategy clearly, answer questions about specific choices and priorities, and allow all parliamentary groups to take a substantive position.

Note: what Greece’s ‘Superfund’ is

In Greek political debate, the ‘Superfund’ (often called ‘Hyperfund’, Υπερταμείο) refers to the Hellenic Corporation of Assets and Participations (HCAP), branded as Growthfund. It is a state-owned holding company set up in 2016 to manage a large portfolio of public assets and state shareholdings.

What it does (in plain terms)

  • Acts as the state’s umbrella vehicle for owning and managing stakes in state-owned enterprises and other public assets, with the stated aim of improving performance and increasing value.

  • Its statutory goal (as described in EU-level documentation) is to generate resources for Greece’s investment policy and to help reduce the state’s financial obligations, including through asset monetisation and dividends.

Who ‘owns’ it

  • The Greek state is the sole shareholder, represented through the Ministry of Finance (via the General Assembly).

Why it is politically contentious

  • Because it sits at the centre of decisions about public property, privatisations, concessions and the direction of major public utilities and infrastructure, it is often criticised as operating with weak democratic oversight and high opacity, depending on the political perspective.

Current scale and structure (as described by the fund itself)

  • The fund describes its group portfolio as around €12bn, spanning 11 key sectors of the economy, and notes a recent expansion through the integration of HRADF (TAIPED) and the Hellenic Financial Stability Fund (HFSF, ΤΧΣ).

Governance

  • The fund’s Supervisory Board is five members, with appointments involving the Ministry of Finance as well as the European Commission and the European Stability Mechanism (a design feature dating to the bailout-era framework).

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