3 January 2018 06:22 pm
In his special statement on the report of the Presidential Commission of Inquiry into CB Bond issuance, the President said senior officials of the Central Bank were inactive before former governor Mahendran.
“It is believed that because they had not questioned about these and had become inactive, such incorrect decisions were made. Mr. Mahendran has made interference into bond auctions through a system of incorrect and unconventional methods and he was responsible for providing internal information to outsiders. One party has used such information to obtain undue monetary profits,” he said.
He said the Perpetual Treasuries Limited has made a minimum benefit of over Rs.688 million in the auction held on February 27, 2015.
“The Commission is of the opinion that further investigations could reveal that this amount could even be more than that. As revealed during the investigations, Perpetual Treasuries Limited has made undue profit of Rs.11,145 millions in the secondary market. In this, the Employees Provident Fund and other government institutions had lost more than Rs. 8.5 billion,” the President said.