Govt. should auction property to pay SCB: JVP

13 July 2011 11:15 am - 18     - {{hitsCtrl.values.hits}}

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The JVP said today that the government should auction the properties of the Cabinet Ministers, the Central Bank Governor and other officials responsible for the hedging deal and find money to pay US $ 162 million to Standard Charted Bank as ordered by a London court.

Addressing a hurriedly summoned press conference, JVP parliamentary group leader Anura Kumara Dissanayake said that the Cabinet, with the total connivance of President Mahinda Rajapaksa, approved this hedging deal which led to this financial loss eventually.

Mr. Dissanayake said that Central Bank Governor Ajith Nivard Cabraal made a presentation at the Cabinet meeting on September 6, 2006 insisting on the need to strike such a deal to purchase fuel from the world market.

“Later, the Cabinet appointed a committee comprising some Central Bank officials to study this proposal. The deal was sealed with five banks based on recommendations by this committee. The committee report was also sent for approval by the Treasury. Therefore, the Cabinet of Ministers should be held responsible for this. They cannot pass the buck on anyone,” he said.

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  Comments - 18

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  • Che Thursday, 14 July 2011 09:31 AM

    JVP should pay for the Damage done in 1971,1987-1990 and also for their stupid strike actions

    Ranjith Wednesday, 13 July 2011 09:33 PM

    Better ask for the gold looted from LTTE.

    The God father Wednesday, 13 July 2011 11:27 AM

    You are absolutely correct.

    Aru Wednesday, 13 July 2011 11:31 AM

    Well said Mr Dissanayake. The government should take steps to auction the properties of the Cabinet Ministers, the Central Bank Governor and other officials responsible for the hedging deal and find money to pay US $ 162 million to Standard Charted Bank. If the President connived his assets too should be auctioned. Why should the public be called upon to pay for the sins of such people?

    Piyal Perera Wednesday, 13 July 2011 11:29 AM

    Hedging Agreement was need of the hour at that time. Problem was that it had loopholes and technical errors. So, CPC lost the game. Anyway, there is a ruling for SCB from the CB. So, SCB unable to accept any payment made in Colombo. Wait and See.

    Hoodwinked Thursday, 14 July 2011 12:38 AM

    If it happens in Sr Lanaka then we shall be the much talked of miracle not only in Asia but this world and the next. as well

    suraj Wednesday, 13 July 2011 11:35 AM

    Very True, very true.. in other country if this happened, it would not pass on to the ordinary public, it would recover from the offices held responsible. This clearly shows that in Sri Lanka people who are not competent enough is at the decision making level, doing blunders, taking short sighted decisions, wasting valuable money due to corruption which would have used for the benefit of common man. Now the Rajapakshe's would say, not to worry, Treasury has enough money to pay

    Ryan Thursday, 14 July 2011 12:42 AM

    JVP fools: These people ruined the country few times and now blaming governments for various things, the blame game the only thing they could do.

    Bird Eye Wednesday, 13 July 2011 11:40 AM

    Let's punish these dangerous fools.

    ind Wednesday, 13 July 2011 11:40 AM

    How about a small contribution from the Gold you stole in 1988-90 ??

    Jayasri Thursday, 14 July 2011 11:43 AM

    well said Mr.Aruna !

    simple mind Wednesday, 13 July 2011 11:41 AM

    What about for the rest of the commitments to citi bank etc. Thos too will have to be paid. Apart from auctioning these properties they can also sell the LTTE gold which they recovered.

    shane Thursday, 14 July 2011 03:07 AM

    very good idia.

    Jeyaraj Wednesday, 13 July 2011 01:12 PM

    A poor nation like ours cannot afford to pay such a huge amount of money.As this massive loss was caused by a few unscrupulous officials and politicians,it is absolutely fair to confiscate their personal property and relieve the innocent people from shouldering their sins.

    dutugemunu1 Wednesday, 13 July 2011 01:17 PM

    this is an ideal opportunity to opposition to arrange public awareness ,.Unfortunately there is no opposition.

    Godaya Wednesday, 13 July 2011 01:33 PM

    Excellent idea. The money will be more than sufficient even to pay some other debts our country has incurred due to mismanagement.

    Siripala Wednesday, 13 July 2011 01:29 PM

    The country is run by amateurs. Use the state of" emergency powers" and get the best accountants, lawyers, engineers, scientists, teachers etc., that have worked in private industry to run the country.
    Then you will see the difference.

    Citizen-1 Wednesday, 13 July 2011 02:14 PM

    Why the Conusmers paid the higher rate during this time when the world oil price was low. So the excess funds were collected from the Retail. So now where is this excess money.


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