Pream Madarasinghe Thursday, 16 September 2021 05:26 PM

We cannot ignore the fact that this very same Governor Cabraal was too keen to enter into the hedging deals on petroleum imports and the Government had to incur a colossal expense or loss running up to Rs. 9.7 billion as at 31 December 2014, including Rs. 5,261,827 as travelling expenses for the lawyers and officials to attend arbitration proceedings abroad, in settling the dues to the banks that stood to gain on somewhat one-sided hedging contracts. These disclosures made by the Auditor General’s Department were reported in the Sunday Times of 10 January 2016.

Reply 0       0