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Will challenge Active Liability Management Bill in SC: JO

20 February 2018 04:28 pm - 4     - {{hitsCtrl.values.hits}}


The joint opposition (JO) said today it would file legal action in the Supreme Court challenging the Active Liability Management Bill, which was presented to Parliament on Monday.

JO MP Bandula Gunawardana said the Bill violated the Constitution and basic human rights.

“The Bill permits the Prime Minister, who is in charge of the Central Bank (CB), to obtain a foreign or a domestic loan not exceeding 10 per cent of the unsettled loans of the previous fiscal year. If the unsettled loan amount is Rs.10 trillion, the Prime Minister will be able to obtain a loan of Rs.1 trillion. The CB bond scam had occurred when attempting to raise Rs.1 billion. The consequence of attempting to obtain Rs.1 trillion in this manner will be unfathomable,” he told a news briefing.

The MP said the standard procedure of obtaining a loan was to go through the CB's Public Debt Department and that the new Bill also allowed for the previous years' appropriation bills to be disregarded.

“Appropriation Bills have been approved by Parliament with the two-thirds majority and the new Active Liability Management Bill allows the Prime Minister to obtain exorbitant loans by disregarding them,” he said. (Lahiru Pothmulla)


Video by Sanjeewa

  Comments - 4

  • KOLA KOTIYA Tuesday, 20 February 2018 04:46 PM


    vasu Tuesday, 20 February 2018 05:13 PM

    Sri Lankans are unable to buy Apartment houses in colombo due to very high prices, this happened after Former Finance minister Ravi removerd the taxes for foreigners to purchers below 4th floor of apparments without paying taxesDear JO MP Bandula Gunawardana please araise your voice to reimpliment the tax forigners.

    alex Wednesday, 21 February 2018 09:25 AM

    illogical statement- is this the pressing need of the hour?why don't you then buy apt. above 4th floor

    bandula Wednesday, 21 February 2018 09:26 AM

    how many foreigners purchase their own apt. most of them rent it

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