Squandering of public funds

Wednesday, 25 July 2012 00:31 - - {{hitsCtrl.values.hits}}

Dear Editor,

For months MP Dr. Harsha de Silva has been screaming about the EPF investments in dud shares. Now with the market virtually down to the ground, many of those shares have very little value, to say the least. The workers will have to bear the brunt of it.

The next shock that shocked the financial services sector and the country was when an opposition law maker stirred a hornet’s nest when he declared Sri Lanka had lost Rs. 1.5 by buying dud Greek bonds. The Financial Times should expose the culprits of that transaction.

COPE findings suggested that three senior officials of the Central Bank had signed, giving approval to purchase the bonds.

This is a serious offence.

Who are these officials? What are the Government and the Opposition doing to bring the offenders to justice?

The way public funds are being squandered, it won’t be very long before the public forces the Government to act like in the recent incident where a court was stoned.

The media has an obligation to expose these frauds and the Financial Times has done a tremendous service by keeping the public informed.

R. Fernando