Jan 26, 2017

Perpetual Treasuries barred from transferring money! Featured

The Central Bank has prohibited Perpetual Treasuries, accused over the CB bond issues, from transferring its money to other accounts and also imposed restrictions on its transactions.

Finance state minister Lakshman Yapa Abeywardena announced the measures in reply to a question raised by a journalist at a media briefing yesterday (25).

In the next step, the loss incurred to the state by PT’s getting excessive profits through the CB bond issue will be recovered, said Abeywardena, describing it as a new beginning.

He went onto say that PT had violated CB procedures, good market practices and ethics.

After starting business with a Rs. 300 million capital in 2014, its profits in the 2014-16 period was as much as Rs. 11,060, said the state minister.

Speaker Karu Jayasuriya told parliament yesterday that the COPE report into the CB bond issue would be referred to the attorney general.

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