Jan 21, 2017

Govt. to freeze accounts of Perpetual Treasuries? Featured

A report quoting a spokesperson of the Presidential secretariat has reported that government has decided to freeze all Bank accounts of the company - Perpetual Treasuries, which ended in much controversy due to its' connection with the infamous Bond Issue.

The weekend publication 'Sath Handa' reports that the decision follows a report formulated after lengthy discussions between finance consultants and government officials. The discussions were based on charges that the government is not conducting a proper probe into the Bond Issue.

The newspaper further reports :

The spokesperson further said the President has informed the Central Bank governor to immediately brief on the procedure required to put this decision into practice.

After PM returns :

The spokesman further said that measures are to be taken according to the above mentioned report soon after Prime minister Ranil Wickremesinghe returns to the country.

Sources further note that during the aforementioned mentioned discussion, it was proposed that speedy measures should be taken from a special presidential investigation commission or a committee and stakeholders of the government had agreed to this.

Secondary buyers

However, it had been emphasised during the discussion that secondary buyers should not be affected by the probe. It has been further noted that the probe should be carefully and swiftly conducted as it could plunge the stock market into a grave crisis.

Also financial analysts are of the view that if the probe is not conducted carefully, it would have a negative impression on present and future investors.

UNP MPs agree

Meanwhile, during a special meeting held to strengthen the government's propaganda mechanism, UNP MPs too have emphasised the need to hold a proper probe into the Bond Issue as the issue is used as a major arsenal against the government.

(Source : Sath Handa)

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