LRT would have placed SL in Debt Trap; Cabraal

Cabraal issued license to PTL, ask him who the thieves are - Kabir Hashim

by Staff Writer 08-12-2020 | 8:26 PM

Colombo (News 1st); If the Government was to go ahead with the $ 2.3 Billion Japanese-funded light rail project, it would have to dedicate a major portion of the budget for the project, said State Minister of Money & Capital Market, Ajith Nivard Cabraal in Parliament on Tuesday (08).

Minister Cabraal said this would force the government to cut down on other essential projects, adding it was evident going ahead with the project would place Sri Lanka in a debt trap.

He alleged the former government obtained $ 6.9 Billion as a loan with an interest of 7.8% and did nothing with it, to which Opposition Leader Sajith Premadasa responded saying the entire Moragahakanda - Kaluganga Development Project was carried out during the tenure of the Yahapala Government.

The Minister went on to note the termination of the LRT project has not dampened relationships between Sri Lanka and Japan.

SJB MP Kabir Hashim said it was the former government that was compelled to pay the debt for the loans obtained for the construction of a port with no vessels, an airport with no aircraft as well as the cricket stadium and convention center in the middle of the jungle.

Responding to Ajith Nivard Cabraal he said the list of projects completed by the former government would be mailed to the minister.

At this moment, according to the comments made in Parliament it was observed the Minister was leaving the Parliament premises.

Kabir Hashim further said it was Ajith Nivard Cabraal, as Governor of the Central Bank, who granted the license for Perpetual Treasuries Limited to operate as a Primary Dealer, the entity at the center of the Central Bank Treasury Bond Scam.

He told the remaining government MPs to ask Ajith Nivard Cabraal who the real thieves are.