Rs.2.7 trillion Treasury Bond probe to begin on Tuesday

Treasury Secretary to be summoned first


by Zacki Jabbar

Following Friday’s bombshell dropped  by Prime Minister Ranil Wickremesinghe that Treasury Bonds totalling Rs.2.7 trillion had been issued through private placements between 2012 and 2014, COPE is to commence its probe into the allegation on Tuesday.

"We, will begin our inquiry into the accusations made by the Prime Minister, the recent  Rs.10 billion Treasury Bills issue and  any other malpactices, by summoning the Treasury Secretary on Tuesday.The Central Bank comes under the purview of the Committee on Public Enterprises(COPE), therefore there is no need for any terms of reference. We, have wide investigative powers" , Chairman of COPE and Communist Party General Secretary DEW Gunasekera MP told the "Sunday Island" yesterday.  

Gunasekera, said that that he had advised the 13-member COPE Sub Committee which was appointed on Friday, to do their job with an open mind and based on the evidence that was presented.

"We, are not here to protect anyone,  but to find out the truth in the larger interests of the country", he emphasized.

The Prime Minister addressing UNP activists at "Srikotha" on Friday said that  in addition to the Rs.2.7 trillion worth of Treasury Bonds  sold through private placements, bonds totaling Rs.288 billion had also been issued with the then Central Bank Governor Ajith Nivard Cabraal chairing the Tender Board in direction violation of the law.

Gunasekera revealed that COPE would also seek the assistance of experts such as former Governors and Central Bank Officials.

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