Banks yet to implement Cabinet decision to suspend Parate execution laws: Sajith alleges

5 March 2024 07:54 pm Views - 516

Parliament, March 5 (Daily Mirror)- Claiming that the property of the Small and Medium Scale entrepreneurs are being auctioned despite the Cabinet decision to suspend the Parate execution laws, Opposition leader Sajith Premadasa urged the government to instruct the banking network to implement the suspension order.

Raising a question under 27/2, he told Parliament that financial institutions had published advertisements on auctioning property of the Small and Medium Scale entrepreneurs even after the Cabinet decision to suspend the Parate execution laws.

He said the Central Bank must issue a circular to the banks to implement the suspension of the Parate execution laws as decided by the Cabinet if more time is needed to pass laws to implement the suspension order.

He said it is against the Cabinet decision for financial institutions to advertise property for auctioning while capitalizing on the delay in implementing the suspension for their own advantage.