Written by Lahiru Fernando
23 Jan, 2018 | 10:50 pm
The ‘Bond Report’ compiled by the Presidential Commission of Inquiry has made it crystal clear that a loss was caused in the transaction and how it was caused.
However, Min. of International Trade Malik Samarawickreme has told the Ceylon Today newspaper that “the government has not lost a red cent from the bond transaction”.
This is a Minister was questioned by the bond commission during the inquiry.
Samarawickrama attended the breakfast meeting on February 26, 2015. This was a day prior to the controversial bond auction.
He attended the meeting in the capacity of the United National Party Chairman.
In his testimony he said, “there was a requirement of 15 Billion rupees for unaccounted RDA work from the previous regime”
But according to Treasury’s Deputy Secretary, the Treasury was never told there was any additional cash requirement.
In this article, the Minister claimed there are Rs. 12 billion worth of assets belonging to Perpetual Treasuries Limited (PTL) which have been blocked by the CBSL.
However in the bank’s press release of July 6, 2017 there were no details of these assets. It only refers to the suspension of the PTL business.
The Free Trade Zone General Services Employees union directed a letter to President Maithripala Sirisena.
In this letter, the union says that a major part of PTL profits were made by means of transactions, where PTL sold Treasury Bonds to the EPF.
They then bought those Treasury Bonds back from the EPF at a low price (high yield rate).
After that, they re-sold the Treasury bonds back to the EPF and again bought the Treasury Bonds back from the EPF at an even lower price (high yield rate)
They also say something similar had taken place with the EPF in relation to stocks.
Dear Minister Samarawickreme,
MPs and Public Servants get a pension. We in the Private Sector have no pension but an EPF.
Isn’t looting the EPF a crime against the working people?
How Minister, does that fit with your claim “not one red cent was lost to the government”?!
Both the Minister and the Prime Minister imply that all is settled because assets are frozen with the Bank.
Say you have a three wheeler. And you hire it out for Rs. 300 a day.
Then it is stolen, and found a week later.
Is justice served by letting the thief go,
simply because the vehicle has been returned to the owner?
Professor Rajiva Wijesinghe responded to Min. Samarawickreme’s statement by questioning the minister’s language skills…
Committing theft, concealing a theft and aiding theft are considered as serious crimes in the country.
The people called on the authorities to expose corruption and fraud and thereafter demanded those accountable be identified and law to be enforced.
While Ministers go on to say there was no loss, the loss is in-fact show in the report.
23 May, 2019 | 04:46 PM
21 May, 2019 | 09:15 AM
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