The Bond Commission in its report has recommended that all bond issues since 2008 - 2015 should be investigated, President Maithripala Sirisena said today.
“As the Commission did not have the mandate to inquire into Treasury bond issues from 2008 to 2015, the Commission had not done that. However, Commission recommends that there should be an investigation into that period too” Sirisena said.
According to the President, the commission has recommended that the loss incurred by the government should be repaid by Perpetual Treasuries Ltd. and that both the main political parties have been taken to task by the report.
The President also announced that in the report the commission has asked for a court audit to be carried out on all bond issues since 2008 as it has identified possible irregularities during the processes.
Sirisena also announced that 17 reports received by him from the Presidential Commission to Inquire and Investigate into Serious Acts of Fraud and Corruption (PRECIFAC) has been handed over to the Attorney General for legal action and a further 17 reports will be handed over to him shortly.
Prime Minister’s actions proper
The Commission report had said that Prime Minister’s responsibility in the appointment of Arjuna Mahendran as the governor to the Central Bank was proper. According to the President, the Commission said the Prime Minister had made his statement in Parliament regarding the appointment of Mahendran believing in the facts presented by Mahendran and Samarasiri, especially on the promises made by Mahendran. “The Report also says that the Prime Minister should not have done that,” Sirisena said.
Loss of Rs. 11 000 Million
The President also said that Perpetual had made earnings of over Rs. 11 000 Million in an undue manner as found out by the commission. According to the President, the commission has recommended that costs of the commission and the loss incurred by the government should be recovered from Perpetual Treasuries.
The report had also stated that Perpetual Treasuries Ltd had made profits through illegal means with the involvement of Arjuna Mahendran, Bank officials and some outside individuals. It stated that senior officials of the Central Bank were also inactive before the former Governor of Central Bank, Arjuna Mahendran. The report also accused Mahendran of interfering to bond auctions through a system of incorrect and unconventional methods and that he is responsible for providing internal information to outsiders.
Both main parties accused
While stating that the commission was not appointed for any political advantage adding that both parties have been taken to task by the commission and no party has been singled out.
Legal action against Ravi K
The President also said laws have to be amended to take action for bribery related to the bond issue and steps have already been taken in this regard.
Meanwhile the Commission report referring to the allegation against former Finance Minister Ravi Karunanayake regarding the payment of rent for the penthouse apartment belonging to the Aloysius Family and their Walt and Rowe Company stated that Karunanayake was responsible for that and recommended that the government take necessary action against Ravi Karunanayake under the section of bribery and corruption and further legal action under the penal codes for giving false evidence at the Commission.
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