The NT government has been under pressure in parliament this week to explain why the now defunct Infrastructure Development Fund it set up gave $10.5 million in taxpayer money to the company, NT Beverages.

The grant that was made 12 months ago is being presented in parliament by Opposition Leader Gary Higgins as an example of fiscal mismanagement and why the government is facing a "financial crisis".

A report late last year showed the government was borrowing over $1.5 billion this year, or $4 million a day more than its income to meet costs.

Independent MP and former NT Treasurer Robyn Lambley threatened on Wednesday to take the matter to the NT Independent Commission against Corruption unless Treasurer Ms Manison launched an investigation.

The treasurer conceded the IDF had failed but said her Labor government was merely following through on the previous CLP government's vision for it, which included it making independent decisions.

"When it came to NT Beverages, that investment decision was independently made by the independent board (of NT IDF)," she told parliament.

"It raises some very big questions with regards to some of those decisions that were made there.

"Very prominent people sat on that board."

However Ms Manison and NT Chief Minister Michael Gunner have so far refused to investigate or try to recoup the $10.5 million.

The NT's most powerful public servant, chief minister's department CEO Jodie Ryan was on the board of the IDF until it was shut down late last year.

Ms Ryan has blamed fund manager Infrastructure Capital Group (ICG) for the investment decision, which Mr Higgins said in parliament had also received $1.5 million from the government.

Former Labor deputy chief minister Marion Scrymgour said Ms Ryan should resign on Wednesday.

The other directors included chairman and ICG director Les Fallick, former Future Fund managing director Mark Burgess, former Macquarie Bank boss Bill Moss and James Paspaley, the head of the pearling giant Paspaley.

Australian Associated Press