Govt. should auction property to pay SCB: JVP

13 July 2011 11:15 am Views - 5540

The JVP said today that the government should auction the properties of the Cabinet Ministers, the Central Bank Governor and other officials responsible for the hedging deal and find money to pay US $ 162 million to Standard Charted Bank as ordered by a London court.

Addressing a hurriedly summoned press conference, JVP parliamentary group leader Anura Kumara Dissanayake said that the Cabinet, with the total connivance of President Mahinda Rajapaksa, approved this hedging deal which led to this financial loss eventually.

Mr. Dissanayake said that Central Bank Governor Ajith Nivard Cabraal made a presentation at the Cabinet meeting on September 6, 2006 insisting on the need to strike such a deal to purchase fuel from the world market.

“Later, the Cabinet appointed a committee comprising some Central Bank officials to study this proposal. The deal was sealed with five banks based on recommendations by this committee. The committee report was also sent for approval by the Treasury. Therefore, the Cabinet of Ministers should be held responsible for this. They cannot pass the buck on anyone,” he said.