CBSL Bond Scam Part 3: The Prime Minister Reacts…

CBSL Bond Scam Part 3: The Prime Minister Reacts…

CBSL Bond Scam Part 3: The Prime Minister Reacts…

Written by Staff Writer

19 Oct, 2016 | 8:38 pm

The story so far – Summery

* Ministry of Policy Planning and Economic Affairs issues a statement at a meeting – Emergency funding of Rs. 15 billion needed to recommence expressway projects.

* Civil society and experts raised questions on UNP Chairman Malik Samarawickrama attending the meeting.

* CBSL indicated its intention to raise one billion rupees, but went on to accept bids up to Rs. 10 billion.

* Central Bank Governor’s son-in-law owned “Perpetual Treasuries” is the only company which knew of the raise.

* Central Bank Governor questioned by News 1st’s Shameer Rasooldeen

* Internal leak allegations grab the President’s attention

* UPFA General Secretary Minister Mahinda Samaraweera lodge a complaint at the Bribery Commission

Part 1 Full article – click here

Part 2 Full article – click here

The story continues…

After details of the controversial bond scam that took place in the first quarter of 2015 came to light, a broad political and a social debate arose.

Then Opposition leader, Minister Nimal Siripala De Silva issued a communique urging the government to hold an independent and a transparent investigation regarding the matter.

The communique stated that the interest rate for the bond issue which was for a period of 30 years had been increased from 9.5 percent to 12.5 percent and that the public will have to pay an additional sum of 9 billion for the 10 billion rupees that will be obtained through the bonds.

Following were the views expressed by the Prime Minister on March  17,  2015 with regard to the bond controversy.

”Arjuna Mahendran has informed me that he is on leave since last Monday and has notified me that he will not engage in official duties until the investigations are concluded. I do not have the power to suspend him. As he said that he will not be reporting to work, I too told him not to report to work.”  – PM Wickremesinghe.

A protest was held on the very next day demanding that investigations into the bond saga be expedited.

What happened next?

More details tomorrow…

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