The 45,000 flower pots, which lined the frontage of Temple Trees bordering Galle Road, were removed yesterday as maintaining the foliage involved a substantial cost. The flower pots, put in place by the former government during CHOGM, had cost Rs. 3 million. In addition, Rs. 50,000 had to be spent per month to water them daily. Replacing 3,000 withered plants on a monthly basis meant more money. Botanists had recommended that the soil in the pots be changed at considerable expense. Soldiers are pictured here removing the flower pots, which were taken to the Gampaha Botanical Gardens, where the foliage will be cared for.
(Pic by Jude Denzil Pathiraja)
Central Bank to move Supreme Court to take over GK management
Will formula a mechanism to repay depositors
by Suresh Perera
The Central Bank will be moving the Supreme Court (SC) to take over the management of the failed Golden Key and formulate a mechanism to reimburse depositors, a high-ranking official of the regulatory body said yesterday.
"We will be appealing to the SC through the Attorney General’s Department next week to acquire the operations of this company, which collapsed in 2008", he said.
The Fundamental Rights (FR) plea filed by a group of GK depositors will resume before the SC on March 11, 2015.
He said that the Central Bank will examine the possibility of liquidating assets and repaying investors if the SC gives the green light to directly intervene and take over the management of this Ceylinco subsidiary.