CB Bonds: JVP asks Governor to step down

10 March 2015 09:22 am - 32     - {{hitsCtrl.values.hits}}

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The Janatha Vimukthi Peramuna (JVP) today called for the removal of Central Bank Governor Arjuna Mahendran from his post until the investigation into the controversial bond issue was completed.

JVP parliamentarian Sunil Handunneththi said the Governor should be removed or he should resign from his post to pave the way for a proper investigation into the one-billion-rupee bond issue, which the JVP describes as a shady deal.

Mr. Handunneththi said the bond issue appeared questionable or controversial for several reasons. He said the bonds were to be issued at a market rate of 9.5 per cent to raise Rs.1 billion but it was ultimately issued at 12.5 per cent raising Rs.10 billion.

Mr. Handunneththi said bonds are usually awarded to several parties in blocks so as to make the interest rates competitive but in this case bonds worth Rs.5 billion had been issued to a company owned by the governor’s son-in-law at an average of 12.3 per cent resulting in Rs.2 billion loss for the Government.(YP & DS)

  Comments - 32

  • lkboy Tuesday, 10 March 2015 03:49 PM

    The minister of finance also should be held responsible.

    Sidath Wednesday, 11 March 2015 09:22 AM

    I was personally very disappointed to hear this story, and when looking at the facts , all symptoms of wrong doing are prevalent

    Ganesha Wednesday, 11 March 2015 09:33 AM

    If there is any fraudulent deal of such proportion, it should be impartially and immediately investigated

    Nimal Tuesday, 10 March 2015 04:16 PM

    The only reason why there is so much corruption in our society is because these individuals know that they can get away with it. All Sri Lankans have a responsibility to question and demand accountability from those that have been appointed to safeguard out interests.

    Chaminda Tuesday, 10 March 2015 04:17 PM

    VP has all the rights to demand the resignation. Lear to call a spade a spade!!!

    simon Tuesday, 10 March 2015 04:21 PM

    What a shame.Again this is Sri Lanka !

    sunda Tuesday, 10 March 2015 04:22 PM

    If this is true he must resign. no other option via DM Android App

    Malin Tuesday, 10 March 2015 04:27 PM

    Is it another insider trading like Raj Rajaratnam did in USA?

    Marie Tuesday, 10 March 2015 04:38 PM

    Any possibility of canceling the deal? The GOV resigning is not going to recoup the losses.

    Sara Wednesday, 11 March 2015 04:51 PM

    Who is Sunil to dictate terms to Ranil and the friends. Mind you they are all Royalists which is in Colombo 7.Ohoma yang Ohoma Yang.

    siribiris Tuesday, 10 March 2015 04:39 PM

    In general, crooks are shameless, will not relinquish positions unless forced to do so. What best for JVP is to complain to Bribery Commission

    Voter Tuesday, 10 March 2015 04:40 PM

    How can you expect a non-national to act in the interest of this country . via DM Android App

    Satha Wednesday, 11 March 2015 10:30 AM

    Dear Governer,why not resign,let them prove high time for this decision.

    Strategist Wednesday, 11 March 2015 10:45 AM

    Well this was on the cards. Singapore does not allow dual citizenship but we were told Arjuna will be given dual citizenship. He should step aside.

    OMG Wednesday, 11 March 2015 10:47 AM

    Yes better to nib the weeds before they spread.

    Premalal Wednesday, 11 March 2015 10:57 AM

    UNP is sleepwalking to defeat. Looks totally clueless in governance. The worst is the finance minister who is jumping like a headless chicken trying to figure out his own budget.

    Siraj Wednesday, 11 March 2015 11:11 AM

    Sack this guy. He will do more harm to the nation.

    Lakshman De Silva Wednesday, 11 March 2015 12:12 PM

    As a Sri Lanka I woner why a foreinger was appointed as the Governor of Central bank as there are highly qualified and experienced financial specialists are avible in Sri Lanka with Ivy league doctorates

    asfar Wednesday, 11 March 2015 12:13 PM

    take a statement from him and let him continue.

    SF Wednesday, 11 March 2015 12:27 PM

    Do the big wigs realize what these types of fiascos do to the Sri Lankan psyche. Whom can we believe in to govern our country. This is very demoralizing.

    sampath Wednesday, 11 March 2015 01:09 PM

    The govt CANNOT make a loss on bonds. The JVP should study the subject before making foolish statements.

    deal kakka Wednesday, 11 March 2015 01:37 PM

    We knew these people from the inception. Don't forget there are lot of allegations of financial mishap against the Ravi.Honorable finance minister this is for you.

    chrys Sunday, 15 March 2015 06:32 AM

    Unuth ekai munuth ekai

    Dave Tuesday, 10 March 2015 03:07 PM

    Yes,.. It clearly a deal.. Agree with JVP.. Governor must be removed till investigation is over.

    Nimal Tuesday, 10 March 2015 03:14 PM

    This is unbelievable. He has only been in the job a few weeks and his credibility is already questionable. The CB Governor should do the honourable thing and resign.

    Ashroff Tuesday, 10 March 2015 03:18 PM

    One set of robbers / plunderers were sent home in January - now looks like another bunch of robber barons are emerging. Ranil this is your man pls take action otherwise you will be sent to wilderness at the next election

    Nihal Amarasekera Tuesday, 10 March 2015 03:19 PM

    Should have known better. New brooms usually sweep dirt better not collect.

    Kiris Baba Amaray Tuesday, 10 March 2015 03:27 PM

    JVP well everything you talk is fair enough, but bear it in mind, the Government is not prepared to dance for your music on all issues.

    Bubble Banda Tuesday, 10 March 2015 03:29 PM

    Sunil you have no rights to dictate terms to the Government, The Govt. had placed the right people to the right positions.

    ara Tuesday, 10 March 2015 03:29 PM

    on the LKR 3 bn given tp perpetual alone, assuming competitive bidding brought down rates to 11.5%, the people will have to pay an additional LKR 30 mn per year and LKR 900 mn for 30 years. Yaha Palanaya!

    Bubble Banda Tuesday, 10 March 2015 03:31 PM

    Do you need Ajith Cabral again? Madness - get lost. We need honest people to sit in top chairs not rogues.

    UniDon Wednesday, 11 March 2015 07:57 AM

    Dear Amare, dear Amare a hole in the bucket!


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