CB should be responsible for a loss totaling Rs.1.674 billion – AG


AG_Gamini_14_06_2017

The Auditor General Gamini Wijasinghe said that relevant authorities at the Central Bank should be responsible for a loss totaling Rs.1.674 billion.

The losses which were deemed ‘avoidable’ in the report, was in reference to the two Bond Auctions which took place on February 27, 2015 and March 29, 2016, he said in the auditor report which submitted to parliament.

The revelation was made during the continuation of evidence led by Deputy Solicitor General Priyantha Navana before the Presidential Commission for the Controversial Bond Issuances.

Giving evidence the Auditor General said that the net profit gained by the Perpetual Treasuries Ltd during April 1 to August 31, 2016 was amounting to Rs. 5867 million.

When delivering his evidence over the Bonds Auction held on March 29, 2016, the Auditor General explained that the value of the bids offered by the CBSL initially at the auction was Rs. 40 billion but had unusually accepted Rs. 77.732 billion bids exceeding Rs.37.732 billion.

 

 

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