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Perpetual Treasuries profits exceeds Rs 15B

The total profit earned by the Perpetual Treasuries Company, through the Central Bank Treasury Bond Scam, by last December, exceeded Rs 15,000 million according to Janatha Vimukthi Peramuna (JVP) Central Committee Member Wasantha Samarasinghe.

Recalling that Arjun Mahendran was appointed as the Governor of the Central Bank of Sri Lanka on 27.01.2015, subsequent to the Government coming to power, Wasantha Samarasinghe told that by 31.3.2015 the Perpetual Treasuries Company had earned a sum of Rs. 959 million and by 31.03.2016 the income had been Rs 5,124 million and the profit earned during a six month period, from 01.04.2016 to 30.09.2016, was Rs 6,815 million and profits appear to have increased massively.

He alleged that even though it was pointed out that through this transaction a loss of Rs 15,000 million has been incurred by the Employees' Provident Fund (EPF), Minister of Finance Ravi Karunanayake and the Monetary Board had not taken any action regarding the issue.

Samarasinghe emphasized that the Investment Advisory Committee of the EPF, are directly responsible for this loss.
Even though internal reports regarding these frauds have been revealed, the present Governor of the Central Bank is working towards protecting those responsible, according to Samarasinghe. He also said that the President, Prime Minister, Finance Minister and the Governor of the Central Bank should reveal to the country all details and take relevant action. Time has been granted until 18 January to do this, he said.

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