Obtaining foreign loan: Mahendran, Aloysius involved in another deal: PHU

6 February 2018 06:01 am - 17 - {{hitsCtrl.values.hits}}

A A A

The Pivithuru Hela Urumaya (PHU) yesterday alleged that former Central Bank (CB) Governor Arjuna Mahendran and his son-in-law Arjun Aloysius had caused a colossal loss to the country when obtaining a foreign loan to build the Pothuhera to Galagedara stretch of the Central Expressway.

He said the the government had obtained a loan of Rs. 138 billion from the Tokyo Mitsubishi bank of Japan to build the 32 kilometer stretch of the Central Expressway from Pothuhera to Galagedara.

“The Japanese bank's local agent who negotiated the deal to obtain the loan, was none other than Arjun Aloysius. All foreign loans should be approved by the CB monetary board, if the loan conditions are favourable. The monetary board was where Mr. Mahendran acted as the Chairman when he was the CB governor. For the loan of Rs. 138 billion, Sri Lanka has to pay Rs. 14 billion as the insurance. The insurance, which amounting to 10 percent of the loan, was obtained by the bank in case the government failed to pay the loan. This 10 percent is exorbitant compared to previous insurance rates of 5-10% and 2-5%," he told a news briefing.

He said neither Mr. Mahendran nor Mr. Aloysius would reveal the conflict of interest in the approval procedure of the loan or the fact that it was obtained when Aloysius was an agent of the Japanese bank.

He said this deal was the second chapter of the bond scam and requested President Maithripala Sirisena to appoint a presidential commission of inquiry in this regard without delay. (Lahiru Pothmulla)

Video by RM

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 17

rajitha7 Tuesday, 06 February 2018 06:19 AM

Way overrated.

Andy Capp Wednesday, 07 February 2018 08:47 AM

Didn't they give you the Rs. 100/-

Yeti Tuesday, 06 February 2018 06:27 AM

Mr. Know-all rides again!!!

Bond Tuesday, 06 February 2018 07:35 AM

They appear to have beaten all your bosses' looting done in 9 years and deserve to be the next president!!!

god Tuesday, 06 February 2018 06:49 AM

hang them all via DM Android App

hemantha Tuesday, 06 February 2018 09:00 AM

Including 100 rupee collector who rob money of a foreigner

Gunasiri Tuesday, 06 February 2018 07:26 AM

If we have good investigative journalists we could minimize corruption to a great extent.

dulan Tuesday, 06 February 2018 08:18 AM

You have no shame to talk of deals of others when u yourself has cheated a foreigner and the case is ongoing.

cheers Tuesday, 06 February 2018 08:22 AM

Mara gahilak ne mun ghanne i mean UNP

Kalu Sudda Tuesday, 06 February 2018 08:29 AM

Another jerk that should be thrown in Jail.

Mahinda Tuesday, 06 February 2018 08:46 AM

Thank you ,In the mean time People want to know how about your deal of selling a Australian company and earned money with cheating the proprietor

Shehan Tuesday, 06 February 2018 09:16 AM

All rouges including you're self must punished lawfully Mr. Udaya.

Lion Tuesday, 06 February 2018 01:25 PM

They took loans but you rob cash of that Australian man

pala Tuesday, 06 February 2018 01:33 PM

good exposure ,present people in power used these guys every where they can plunder government coffers continue it to the end.

REYNOLD ABEYKOON Tuesday, 06 February 2018 08:01 PM

LOAN FROM AUSTRALIAN

mali Wednesday, 07 February 2018 09:54 AM

Why MR and family do not scream about bond scam?? Cos Mahendran helped them to deposit their illicit money in overseas accounts.

pala Friday, 09 February 2018 09:58 PM

good exposure,go ahead , find more details,and sue them

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Obtaining foreign loan: Mahendran, Aloysius involved in another deal: PHU

Comments - 17

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

April 15 declared a government holiday

Former MP Palitha Thewarapperuma dies from electrocution

Belgian traveller scammed in Kalutara

New Visa procedure implemented

A US “Kaputa”, a Lankan “Nariya” and a Presidential “Feast”

Confusion remains if April 15 is a bank holiday

MIRROR CRICKET

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

Chamodi, Dewmi spins Sri Lanka U19 Women to big win

Amir, Wasim return to Pakistan national team

TODAY'S HEADLINES

100 Police personnel trained to target criminals operating on motorbikes

Catholic Church receives full report

Complaint lodged over Piumi Hansamali’s possession of Gota’s Range Rover

We are struggling with severe shortage of staff – Excise Chief

Mendis, Mathews move up in ICC Test Rankings

Security raised for Champions League ties after threat

SLA target four events at Paris Olympic Games

Chamodi, Dewmi spins Sri Lanka U19 Women to big win