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TBs worth Rs.14.2 bn issued to SriLankan in 2012

16 November 2018 08:20 pm - 6     - {{hitsCtrl.values.hits}}

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Rs.14.2 billion worth of Treasury Bonds (TBs) were issued to SriLankan airlines by the Central Bank (CB) in 2012 without a Gazette notification as required by the Registered Stock and Security Ordinance (RSSO), CB Governor Indrajit Coomaraswamy today told the Commission of Inquiry into financial irregularities in SriLankan airlines.

He said this when Additional Solicitor General Neil Unamboowe PC asked about the particular clause in the Ordinance which directs that a gazette be issued for such a purpose.

Dr. Coomaraswamy said according to Article 4 (1) the Finance Minister should issue a gazette notification in respect of each loan issued under the RSSO.

He said the Ordinance specifies the mode of issuing a gazette notification when issuing registered stock, securities in the form of government promissory notes, the issue of securities in the form of bearer bonds and the issue of securities in the form of treasury bonds.

When ASG Unamboowe asked him how the then Finance Minister and the then Civil Aviation Minister had said about ‘issuing Treasury Bonds’ to SriLankan airlines, Dr. Coomaraswamy said the two ministers had not mentioned anything about Treasury Bonds either in a Cabinet Paper or in the 2012 budget speech.

He said the RSSO is now outdated and the CB is in the process of amending the Ordinance. Dr. Coomaraswamy said that the findings of the Commission would be beneficial to the CB since the amendment of the RSSO had been already started. 

ASG Neil Unamboowe together with State Counsel Sajith Bandara led the evidence. (Yoshitha Perera)

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  Comments - 6

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  • Desperate Friday, 16 November 2018 08:55 PM

    Thats what MR and his henchmen were so desperate to capture power and go for the next election in order cover all these matters. All TB issues under MR and RW should be investigated by the commission.

    Dee Friday, 16 November 2018 09:00 PM

    They should change the governor so that these robberies are not brought to light! Bring back the old governor so that the remaining treasury bills also could be released. Oh. How about renaming srilankan as 'Mahinlanka'?

    Ananthan Friday, 16 November 2018 09:07 PM

    Who is the Minister of finanace then and present?

    Raj Saturday, 17 November 2018 07:58 AM

    Our country needs a good corrupt free government so that our future generation can have a bright future.

    Gp Saturday, 17 November 2018 10:42 PM

    Tell the Election Commission to accept nominees from educated people, rather than people from the street

    kumar Saturday, 17 November 2018 07:41 PM

    Only MS has been in both cabinets and he is the real culprit. He cannot absolve himself from the responsibilities and should tender his on resignation before pointing his fingers at others if he has any credibility left.


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