EPF, ETF lost Rs.400 billion on Treasury Bond purchases from 2008 to 2014 – Ranil

by Zacki Jabbar

Prime Minister Ranil Wickremesinghe says that the Employees’ Provident and Trust Funds lost over Rs. 400 billion due to the purchase of Treasury Bonds between 2008 and 2014.

That loss was the biggest fraud committed against the working class by the Mahinda Rajapaksa government, the PM said, addressing the UNP’s 70th anniversary celebrations at Campbell Park, in Borella on Sunday.

Emphasising that all the corrupt and criminal activities that had taken place under the Rajapaksa regime would be exposed, Wickremesinghe said that according to the Treasury Bond Commission Report presented to President Maithripala Sirisena recently, "corruption in the Central Bank between 2008 and 2014, had resulted in the Employees’ Provident and Trust Funds losing over Rs. 400 billion, due to the purchase of Treasury Bonds."

He said that Mahinda Rajapaksa had bequeathed debts totalling over Rs.1000 billion to the people, causing the current government to  look for funds from various sources including the sale of  bonds, for loan and interest instalment repayments on schedule.

Health Minister Rajitha Senaratne said that billions of dollars deposited in offshore accounts by those who claimed to be "true patriots " had been unearthed.

The Rajapaksas had, he said, questioned how much was spent on sending law enforcement officers abroad to conduct money laundering investigations.

They would be crying when the evidence was presented to courts, Senaratne added.

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