MR appoints a committee to revive the economy

MR appoints a committee to revive the economy

Written by Staff Writer

18 Oct, 2018 | 7:36 pm

Colombo (News 1st) – Former President Mahinda Rajapaksa has appointed a three-member committee to develop a plan for the revival of the economy.

It comprises former officials of the Rajapaksa administration:
Former Central Bank Governor Ajith Nivard Cabraal, former Secretary to the Prime Minister S. Amerasekera and Former Chairman of the Securities and Exchange Commission Nalaka Godahewa.

The record of these officials is questionable and played a role in the defeat of the Rajapaksas at the 2015 election:

Ajith Nivard Cabraal

Ajith Nivard Cabraal was under investigation for the controversial investments in Greek Bonds costing the state losses worth Billions. The direct loss to the Central Bank from these questionable bonds was Rs 1,257 million.

His sister Shiromi Wickremesinghe was a Director within the Perpetual Group when Perpetual Treasuries Limited was awarded the Primary Dealer license. Shiromi Wickremesinghe also was CEO of Lankaputhra Development Bank which invested more than 300 million in failed budget airline Mihin Lanka.

The EPF made numerous bad investments during the tenure of Cabraal. He was also accused of facilitating the appointment of directors to banks.

Cabraal as head of the Central Bank appointed PR consultants with higher cost.

Nalaka Godahewa

Nalaka Godahewa was associated with others in the so-called Pumping and Dumping scandal amidst claims of price manipulation at the Colombo Stock Exchange. Godahewa was also in the center of the so-called Krrish project amidst allegations of graft

Godahewa as Chief of the SEC was also charged for misuse of funds which ended up for an event organized by Namal Rajapaksa, the case is on-going. President Rajapaksa’s reaction to the Pumping and Dumping scandal was to appoint Godahewa to the top slot at the SEC.

Four years into this government the Minister in charge of the subject of the SEC – the Ministry of Finance – or the SEC themselves have not instituted legal action against anyone involved in the Pumping and Dumping scandal.

These are the officials the Rajapaksas are apparently relying on to provide answers on an ailing economy.

We’d like to remind the former President the mistakes that took place during his tenure and the mistakes that are taking place under the current Prime Minister.

If this is the team that is being assembled by the Fmr. President to realize the economic dream of the country, all we can do is to wish him good luck and all the best.

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