Home / Front Page/ Probe People’s Bank loan of Rs. 4 b to a Minister: Ravi K

Probe People’s Bank loan of Rs. 4 b to a Minister: Ravi K

Comments / {{hitsCtrl.values.hits}} Views / Friday, 10 August 2018 00:10

  • Blames supervision unit of Central Bank for failing to investigate Rs. 4 b loan to a Minister and Rs. 10 b loan to one Jehan Amaratunga
  • People’s Bank denies any wrongdoing

MP Ravi Karunanayake in Parliament yesterday blamed the supervision unit of the Central Bank for allegedly failing to investigate a People’s Bank loan of 

Rs. 4 billion to a Minister.

MP Karunanayake charged that the supervision unit of the Central Bank should launch a query on its failure to probe a loan of Rs. 4 billion to a Minister and a loan of Rs. 10 billion to an individual by the name of Jehan Amaratunga. “The former Lankaputhra Bank Chairman Lasantha Gunawardena was sacked for approving a few loans worth Rs. 100,000 each, but one needs to find out as to how the Peoples Bank had lent Rs. 4 billion to a Minister and of Rs. 10 billion to Jehan Amaratunga,” Karunanayake said.

However, People’s Bank, in a statement, denied any malpractice or preferential treatment extended to then Director of the Bank Jehan Amaratunga. Further, the statement said that all necessary approvals were obtained, including the approval of Board of Directors of the Bank, as per regulations of the Central Bank for ‘special instances’ to grant the loan. 

Further, MP Karunanayake claimed that some officials of the Ministry of Finance were misleading Finance Minister Mangala Samaraweera in attempts to cause a division between the President and Prime Minister.

“These officials in the Ministry of Finance are the ones who led to a negative economic output in 2001. They are henchmen of former President Chandrika Bandaranaike Kumaratunga,” he said.

In addition, MP Karunanayake proposed that the country would benefit from a 9-10% reduction in the VAT.

Share This Article


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

Will Kyaukpyu overtake Gwadar and Hambantota?

Wednesday, 19 December 2018

China last month signed a $1.3 billion contract for Myanmar’s Kyaukpyu port project. The figures doing rounds in media in the run up to this port deal were as high as $7.9 billion which had ignited enormous curiosities. The Chinese had been negoti

Fruits, flowers and futile triumphalism at Galle Face?

Wednesday, 19 December 2018

Every morning, I play voyeur and watch that nice neighbourhood uncle pluck flowers to pooja-fy his guardian deities. He is quite religious about it. And industrious to boot. The problem, of course, is that he doesn’t restrict himself to his garden.

Things to do in a Democracy when you’re dead…

Tuesday, 18 December 2018

In yesterday’s column, I argued a case for not impeaching the chief executive of the coup that has left our country situation in ruins. At the end of a pitched battle between the forces of unconstitutional ambition on one hand and democratic resist

Tweaking the New Inland Revenue Act (Part II)

Tuesday, 18 December 2018

In the backdrop where the recent amendment to the country’s supreme law is called in question, it may be appropriate to recall that the passage of the new Inland Revenue (IR) Act through Parliament was far more controversial. Nevertheless, the new

Columnists More