VIDEO: Govt. is swindling the public in the open – Tissa

VIDEO: Govt. is swindling the public in the open – Tissa

May 8, 2012   04:55 pm

It is evident through the recent attempt by state-owned National Savings Bank (NSB) to purchased 7,863,362 shares of The Finance Company for nearly Rs. 394 million, without the permission of the Director Board, that the government is stealing the public’s money “in the open,” the United National Party accused.

The innocent public, retired employees and children deposit their savings at the National Savings Bank, UNP General Secretary Tissa Attanayake charged that their money as is being used as personal property by the bank.

Although it is said that the President has ordered the immediate suspension of the transaction, why is no legal action being taken, Attanayake inquired speaking at a press conference today (08).

He claimed that the individual serving as the Chairman of NSB is the spouse of a high-ranking judicial member.

 Attanayake further inquired, as to how the deal went though when one member of the Director Board and a representative of the Treasury had objected to it and why no legal action is being taken Chairman of the bank.

He said that the shares of The Finance Company, which dropped to Rs. 32 a share after being purchased at Rs. 49.74 per share, were only worth Rs. 30.30 a share, and that the National Savings Bank had incurred losses of Rs. 150 million due to the deal.

While demanding that all persons responsible for transaction should resign, the UNP parliamentarian said they should bear the losses suffered. 

He said that such irregularities had also taken place during share market deals, and that due to this there is no more money in the Employees’ Trust Fund.

The government has taken a portion of money from the ETF and invested the remaining money in various companies based on commissions from various persons, Tissa Attanayake claimed. (AdaDerana)

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