Video: Debate no-faith motion against Ravi on Wednesday - Bandula

1 June 2015 08:56 am

Some United Peoples Freedom Alliance (UPFA) MPs today urged Speaker to allow the No-Confidence Motion against Finance Minister Ravi Karunanayake to be debated on Wednesday (3) without allowing it to lose its value and significance.

UPFA MP Bandula Gunawardane said the debate was important because the minister is continuing to act in a manner which was detrimental to the country’s economy.

“We will also urge the Opposition Leader to make provisions to debate the motion when parliament meets tomorrow. The no-confidence motion should be taken up even before matters relating to the Constitutional Council or the 20th Amendment are taken up in parliament,” he told a news conference.

Commenting on Central Bank’s sale of 10-year International Sovereign Bonds at a yield of 6.125 per cent to raise US$650 million, Mr. Gunawardena said the 6.125 was excessively high and the highest since the end of the war.

“Former president Mahinda Rajapaksa as the then finance minister sold CB bonds to raise USD$1,500 at a yield of 5.125 per cent last year. Mr. Karunanayake at the time charged that Mr. Rajapaksa had received a commission of 2 per cent. If that is so then it appears that the current finance minister has received a commission of 3 per cent,” Mr. Gunawardane said.

He said the investments under the new government had decreased, inflation had sky-rocketed and interest rates increased. “These are the results of economic mismanagement. This is why we need to debate the no-confidence motion against finance minister without further delay,” Mr. Gunawardena said. (Lahiru Pothmulla)

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