Video: Bonds worth Rs.2.7 trillion sold during previous regime - PM

23 May 2015 04:35 am - 43     - {{hitsCtrl.values.hits}}

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Prime Minister Ranil Wickremesinghe said yesterday Treasury Bonds worth a staggering Rs.2.7 trillion had been sold by the Central Bank to an accomplice of the previous regime by violating standard tender procedure in 2012, 2013 and 2014.

He said the committee appointed by him to inquire into the controversial sale of Treasury Bonds during tenure of Central Bank Governor Arjuna Mahendran had come across these startling facts.

“The February Central Bank sale was only about Rs.10 billion and the decision on the sale had taken by the Tender Committee. Its decision had been later approved by Governor Mahendran. However, Treasury Bonds worth Rs. 2.7 trillion had been sold from 2012 to 2014 violating CB policies,” he said addressing the United National Party (UNP) activists at Sirikotha.   

He said February’s Bond sale had been carried out in a transparent manner at a public auction but said in previous years there had been no public auction and this had discouraged primary dealers of the Central Bank.
 
The Prime Minister said  Rs.2,437 billion worth Bonds had been sold after calling for tenders but the then CB Governor had been directly involved in the Tender Committee in violation of the standard procedure.

“The Governor cannot take action on behalf of the Tender Committee but that was what happened during tenure of the previous CB governor. The Committee had not been informed of the decisions of the then Governor. It is also not clear who purchased these bonds. Although the previous government had favoured its sycopants it failed to grant any relief to the ordinary people or pay them a living wage,” he said.

The PM said the Opposition was uncomfortable with the full report of the Committee being published because of the fear that the acts of blatant fraud and corruption during the previous regime would be revealed in the process.   

“The Opposition wants to cover up their acts of corruption by focusing only on Mr. Mahendran, whose name had been cleared by the Supreme Court. However, we agree with the Speaker’s decision to refer the committee report to COPE and to await its response,” he said.(Lahiru Pothmulla)

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  Comments - 43

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  • Coconut Republic Saturday, 23 May 2015 06:14 PM

    WOW, very interesting! Is Arjun Aloysius involved there too , from the back door or all the former parliamentarians? I am sure GLP is in there without any doubt! !! What a great country parliamentarians who want to live on the poor citizens tax money!!!

    Patriot Saturday, 23 May 2015 06:16 PM

    I think, this is "Koheda Yanne , Malle Pol" type of response, maybe to evade the issue. The issue is not what the previous CB Governor did or did not do, but the need to ensure that the Rs 1 billion Bond issue, alleged to have been surreptiously increased after the issue date to Rs 10 billion at a very high interest rate for 30 years, benefiting mainly if not only, a company connected to the son-in-law of the new CB Governor, was an insider trading matter or not. The second question is whether the new Governor who is a foreigner and a childhood friend of Raj Rajaratnam who is jailed in the US for insider trading, has committed a worse offense, considering the superior status of the Governor, and whether he is suitable to hold this position. The report even by the three UNP lawyers appointed by the PM, also recommends deeper investigation by a competent and credible panel. The country cannot afford a loss of this magnitude, which also damages the credibility of the Central Bank.

    Freddy Saturday, 23 May 2015 06:31 PM

    Dont play innocent the public is always misled. Fault finding and blame game is over. Run the bloody country. Trillion to cover billions is not justified. Shooting off the mouth no evidence, Mahendrans case seem more practical at the moment to mention charges. Singaporeans seems to have dual citizenship, apparently unofficially. Can a Governor of Central Bank be a foreigner? More to come

    Nanda Saturday, 23 May 2015 07:27 PM

    Poor PM!. Trying to clean his own cloths, using old soap!. Try to get former Media minister to your help, he will do the cleaning part professionally for you.

    ruwan Saturday, 23 May 2015 08:27 PM

    They violate and you violated. GREAT. Shame on you

    simon Saturday, 23 May 2015 08:28 PM

    Exactly. Now it is ok with the new CB gov. to do !!

    simon Saturday, 23 May 2015 08:30 PM

    Exactly. PM is trying to avoid the present situation by covering with the past.

    simon Saturday, 23 May 2015 08:32 PM

    As a opposition leader he was a failure and now he is repeating the same

    The God of Justice Saturday, 23 May 2015 08:35 PM

    This is obviously shocking to hear! These rogues in the Parliament are still making noise about Mahrendran with these ridiculous no-confidence motion.

    weerasiri Saturday, 23 May 2015 08:40 PM

    The former CB governors own sister Shiromi Wickramasinghe was Director of the same company perpetural treasuries ltd

    simon Saturday, 23 May 2015 08:53 PM

    Publishing all these going to damage economically when it comes to foreign investments.

    ara Saturday, 23 May 2015 09:26 PM

    set an example punishing the wrong doer in front of u (mahendran) while chasing after the others, at the moment there is a serious trust issue that corruption will continue at a larger scale

    The Justice God Sunday, 24 May 2015 05:32 PM

    According to CB policy, Foreigner can become the governor of Central Bank. But not Member of Parliament with the passage of 19th Amendment.

    MilkyWay Saturday, 23 May 2015 11:35 AM

    A very good observation and detection Mr. Prime Minister . All fraudsters from 2012 to 2015 have to be punished. One fraud does not cancel another fraud big or small.

    kamal Sena Saturday, 23 May 2015 11:36 AM

    If this is the case, How is thast the former CB governor is still at large?

    tibs Sunday, 24 May 2015 04:58 AM

    [make sure you keep clean] that boat left some time ago and Ranil still pandering to last regime.

    Kalu-Byya Saturday, 23 May 2015 12:01 PM

    Rubbished ! if this is true, why your Police Junta going behind only less than Rs.10 million cases. You cannot full us, We will teach you lesion at next general election

    Dilp Sunday, 24 May 2015 05:55 AM

    Ram possibly leaking information to Mahinda about all of Prime Minister Ranil Wickremesinghe plans all along! must be investigated!?

    LogicalCitizen Saturday, 23 May 2015 12:30 PM

    But those were not 30-year tenure at 12.5% interest.

    Don Sunday, 24 May 2015 07:27 AM

    He was cleared. Trouble reading?

    Citizen Saturday, 23 May 2015 12:38 PM

    Ranil should not attempt to cover up current crimes by citing old crimes.Lets see how old and new crimes are dealth with. via DM Android App

    Don Sunday, 24 May 2015 07:29 AM

    Was he in the loop of the government? Any transparency during the last regime? Read then comment.

    Bala Saturday, 23 May 2015 12:56 PM

    Hope the COPE will inquire into all transactions from 2012 and expose the corruption by giving private placements to a few cronies of Cabraal without auction or tender. Looks like this has exposed the bigger corruption from 2012 and backfired on the MR supporters.

    K. C. John Saturday, 23 May 2015 12:57 PM

    Where are the vituperative critics of the February, 2015 Central Bank Bond issue? Where is Shaukatally? Can we hear from him please?

    Hon. Sarneris Saturday, 23 May 2015 01:10 PM

    Then why are you scared to remand put MR and Cabral?

    willowsd Saturday, 23 May 2015 01:22 PM

    only big talks no punishments for culprits

    Nanda Sunday, 24 May 2015 09:44 AM

    RW is just like the James Bond now a days.

    akitha Saturday, 23 May 2015 01:46 PM

    does it justifies your actions via DM Android App

    Lokka Saturday, 23 May 2015 02:08 PM

    in 100 days 1-billion . Your govt. also can reach the trillion mark in due course.

    Gamaya Saturday, 23 May 2015 02:10 PM

    Best is to first solve the case of the present Governor. Then we can solve the past

    Waco Sunday, 24 May 2015 10:33 AM

    It is only lip service. Can you take any action against MR?You better valata your seat.

    MilkyWay Saturday, 23 May 2015 02:29 PM

    Mr. Prime Minister, what were you and your party doing from 2012 to 2014 while all the frauds were taking place. You too have to take responsibility for letting these things happen or were your friends part of this. Ha Ha Ha!

    Aba Jayasekera Sunday, 24 May 2015 10:35 AM

    Whether the amount is Rs.10Billion as against Rs.2.7 Trillion is not the point. Both will be losses to the country. One cannot justify saying that it was small. Further stealing and protecting rogues are both unacceptable.

    noel Saturday, 23 May 2015 03:03 PM

    bouquet to prime minister via DM Android App

    don Saturday, 23 May 2015 03:26 PM

    2012 2013 2014 me kalavaldi rate vipaksha nayakaya kavuda. eya "BUDIYAGENADA" hitiye. athe palavena boru kiyana me PIN: agamethithumata aba saranai.

    thakataia Sunday, 24 May 2015 11:24 AM

    We only little. Now only started. via DM Android App

    Vas Saturday, 23 May 2015 04:02 PM

    Please arrest Nivard Cabral immediately and reveal all the corrupt dealing carried during his time!

    Rajitha Fernando Saturday, 23 May 2015 04:21 PM

    What is Ranil trying so desperate to protect Mahendran . Is it because Malik is also involved as claimed by Nimal ? Give him up Ranil and focus on the next election. This will be a campaign slogan for sure.

    sam Saturday, 23 May 2015 04:28 PM

    Dear Prime minister,You came to be PM because of previous regime mismanagement and corruption and it is wrong for you to do same. Punish for people done wrong. Make sure you keep clean. People do not want see repeat same thing again

    mohamed iqbal Sunday, 24 May 2015 12:11 PM

    very clever and knows well to shoot in right place and right time. we are proud of you Mr. Ranil, Well-done and keep it up

    sharon Saturday, 23 May 2015 04:49 PM

    You lost your respect in Parliament yesterday. Dont lose it further. . . . We voted to take action. Not to talk. Your talks about development will also be limited to talks. . . . . via DM Android App

    Prem Nath Sunday, 24 May 2015 12:22 PM

    What about the times the UNP was in control then?

    malij Sunday, 24 May 2015 12:57 PM

    Dullass to MR : Sorry Saaar,...Widde Haawata. Vedune Pandurata.


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