23 September, 2020

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Ranil Set To Gag Media Again Over Bond Issue

Hell bent on safeguarding the misdeeds of ex-Governor of Central Bank Arjuna Mahendran, Prime Minister Ranil Wickremesinghe is set to gag the media for a second time by raising a privilege issue in Parliament against local media.ranil-newz-2016-2

Wickremesinghe who has since coming to power in January last year, attacked the media from time to time, and threatened to even send journalists home, has ordered his wingman, State Minister of International Trade Sujeewa Senasinghe to raise a privilege issue in Parliament against the local media which has been reporting extensively on the COPE proceedings and the COPE report in connection to the Central Bank Treasury Bond scam.

Senasinghe under the orders of Wickremesinghe is leading the campaign even in the COPE to protect Mahendran. Last year, Senasinghe also filed a petition seeking an interim order preventing the publication or circulation of the COPE sub-committee report on the Central Bank bond issue. The Colombo District Court issued an enjoining order soon after Senasinghe filed for it.

Wickremesinghe is reported to have been very annoyed that many of the newspapers, including several private television channels which is supportive of him has been reporting negatively against Mahendran and the Central Bank Treasury Bond scam.

“The Prime Minister is looking at ways to intimidate and gag the media from reporting on this crucial report, which is negative to Mahendran, and he is also looking at raising a privilege issue in Parliament against the media,” a highly placed source told the Colombo Telegraph.

Yesterday, the Colombo Telegraph exclusively reported the recommendations of the COPE report on the Central Bank Treasury Bond issue, where the COPE report by its Chairman Sunil Handunetti has implicated Mahendran for being directly responsible in the scam. The report has been endorsed by the majority of the members except for the UNP MPs in the committee.

The treasury bond scam resulted in Sri Lanka losing Rs. 1.6 billion, but Perpetual Treasuries Limited which is linked to Arjun Aloysius, the son in law of Mahendran recorded a profit of Rs. 5.1 billion for the year that ended in March 2016, an increase of 430% in profits, in comparison to last year.

Related posts:

Bond Scam: Stop Publicising Or Circulating COPE Report – UNP Legally Forces

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Latest comments

  • 9
    1

    The reason we have thing called “independent commissions” is so that the govt machinery function efficiently whilst the law-makers keep a focus on their core role.

    The law-maker is there to continuously refine and manage the system at a high level.

    There are many different agencies from FCID, CID the Attorney General dep and the bribery commission to handle the problem at a lower level. Why aren’t they functioning? Why is the PM interfering in a role that should be delegated to one of the agencies?

    The many different agencies itself seems to be a problem. For example there are 3 disaster management agencies. Although when a disaster happens its the TV network Derana who co-ordinate and do most of the work.

    Similarly, is it because there are so many crime divisions that no one knows their proper jurisdiction? Is the work not being done because there are 4 to remove a bulb when only 1 is needed?

  • 27
    1

    If the headline “Ranil Set To Gag Media Again Over Bond Issue” is true, then the ‘Mr. Clean’ tag will have to be changed into something more suited to his duplicity.

    Any suggestions???

    After Maithripala’s recent words and actions and now with Ranil’s orders to his favorite gopher, it sure looks like we are sliding slowly backwards towards the odious past under the previous regime.

    Oh woe is us!

    • 21
      4

      Are you living in the coockoo’s land? What Mr clean label for this rouge!

      • 5
        5

        NAK

        “Are you living in the coockoo’s land? What Mr clean label for this rouge!”

        Of course he is living in the Sinhala/Buddhist ghetto where questioning the state, its rulers, corrupt politicians, thugs, murderers and nepotism is naturally deemed treachery.

        • 3
          1

          Native(fake)Vedda,

          If it is because of the Sinhala Buddhist ghetto, how come Arjun Mahendran is Tamil (Hindu?) and his son in law Alosys is presumably a Tamil Catholic.

          Get over your stupid Tamil obsessions like always attacking the Sinhala Buddhists for everything and confront the facts, that here all three (RW,AM and his SIL) are guilty.

          (Bit of history for you el stupido fake Vedda, Its your violent Tamil ancestors who caused all this racial hatred by attacking and wiping out the Sinhala Buddhist Anuradhapura (hardly a Sinhala Buddhist ghetto) about 1016 years ago. Not us Sinhala Buddhists, we prefer to mind our own business until threatened).

      • 7
        0

        NAK, you obviously have a ‘comprehension’ problem – not to mention a problem with spelling!!

    • 5
      0

      How about Dirty Ranil or Ranil Rajapaksa!

    • 1
      0

      Mr Kelille Mahadenamuttalage Modasinghe our grate PM

  • 16
    0

    Tigers never change their stipes and Leopards never change their dots

  • 11
    0

    We need a movement like the anti-taxes Boston Tea Party, against IMF’s VAT taxes.

    As long as the corrupt politician of Sri Lanka have tax free cars and the Central Bank manipulates currency and indulges in Bond Scams to fund Corrupt politicians and their parties, people should not pay tazes.

    Ranil Wickramasinghe loves to talk of “Parliamentary Privileges” – ie.e the privilege and entitlement to loot the people and country and spread corruption so that it trickles down to every corner of the country, from the Parliament of corrupt morons.

    Sri Lankans, one and all, should REFUSE to pay taxes to the Ayahapalanaya government of Sri Lanka run by Ranil-Sira Jarapalanaya which is protecting the corrupt and criminal Mahinda Rajapaksa family. Politicians of Sri Lanka are a caste of parasites and no one should pay taxes as long as the corruption continues.

    • 5
      0

      It is a VERY GOOD IDEA to refuse to pay taxes, because there is no justification for the number of foreign trips that are undertaken by Ministers and their cohorts for God only knows what!

      I believe the money for these larks come from also the loans taken by the country, and spent among other things on the travels of a few adding to the travails of many.

      It is a real shame that in these modern day and times, such thievery continue to happen.

  • 4
    0

    RE: Ranil Set To Gag Media Again Over Bond Issue

    “Hell bent on safeguarding the misdeeds of ex-Governor of Central Bank Arjuna Mahendran, Prime Minister Ranil Wickremesinghe is set to gag the media for a second time by raising a privilege issue in Parliament against local media.”

    Ranil Set To Gag Media Again Over Bond Issue, is like the Catholic Church trying to Gag the Astronomers over the Heliocentric Model, burning Giardano Bruno and incarcerating Galileo.

    Still the Earth spins and goes around the Sun.

    The Sri Lankans will continue to pay more than needed.

  • 8
    4

    Ranil manipulated COPe from the begining by giving them duty free car permits, politically manipulating it by appointing more UNP members.

    Now, his newst triumph is to get the help of tNA, probably to set up the govt with the help of TNA.

    • 2
      0

      This egoistic bugger will sell his country for peanuts just to protect his status and their class – he will phoo !! phoo!! all opposition and will show his middle finger to everybody with guts to oppose him – these are the notions hold by many of his outer circle party members

  • 11
    10

    It will be nice to know exactly what this “scam” is. Are you suggesting that Arjun sat down to dinner with his son in law and said ” Hey baby. Tomorrow at the bond auction this is what I am going to do and you better position yourself to catch the fattest of the fry”…and that he did this not once but TWICE…????

    That is ROT and I do not buy it.

    Arjun was shifting from the bond rationing system to an open market. The local primary dealers – like the whole local corporate sector – did not like the heightened level of competitiveness and competence that this would demand. They did not want to admit their laziness and incompetence and so they decided to create this alleged “scam” and attack Arjun.

    Those who want to get some idea of what is involved can get some familiarity here https://www.treasurydirect.gov/instit/auctfund/work/work.htm

    In an open market the smart guys win…in a rationing system the idiots get the same as the smart ones. Now you know why there are no smart guys left on the island.

    CT should do some research before rolling in the mud while dreaming that it is a mermaid…

    • 11
      2

      Well.. if its all legal and clean, why all the fuss? Why is RW going to such lengths to cover up what happened? Something smells fishy don’t you think? And the fact that AM’s son in law is implicated should also give clue. The signs are all there

    • 1
      0

      This is called a conflict of interest. how about that. ?YP nutters were talking about this pre election time. How about now when they have appointed their kith and kin to key posts. ?

  • 3
    1

    There is nothing to gag. If COPE think there is enough evidence to prove that a fraud was committed they can hand over the case to the Attorney General for legal action without grandstanding in the media.

    I don’t trust anything appointed by parliament. We saw what happened to our previous chief justice. So if they do have a case the fair thing is to take the legal rout. Honestly I don’t think they have a case. Things that happened might be un ethical but being illegal is a different other ball game.

  • 8
    1

    At the time Arjuna Mahendran’s contract was not renewed, the COPE Chairman had already found evidence that he was guilty and threatened to release his report., within a few days. Why was the delay in releasing the report? Why did the President act before AM was found guilty, beyond ant doubt?

    Where was Maitripala Sirisena;s conscience then? Where was his conscience, when his son, Daham. Played the brute at Oasikudah and recently at a Colombo night club? Why is the latest incident not being investigated by the police? What happened to the CCTV evidence the CT publicized? Were there no one in Sri Lanka to identify a Daham in these CCTV clips?

    Dr.Rajasingham Narendran

    • 6
      6

      What was he found guilty of…? I do not recall any charges or trial…unless this is some kind of kangaroo court run by the media.

  • 6
    6

    I have no clue why all the fuss. All primary dealers borrow against their portfolios to finance their purchases.That in fact is why such borrowing facility exists. Yet even this has become part of the “Fuss” because Perpetual Treasuries made maximum use of it to rake in super profits. The fact that Arjuns son in law has something to do with Perpetual Treasuries may very well have something to do with it.

    As far as I can see this is a “fuss” stirred up by the primary dealers in order to force the government to return to the rationing system.

    Why the government has so far failed to expose this is because as I pointed out all the smart people capable of doing so have fled the island long ago…

    The whole bond issuing process under Arjun must be analyzed and the changes he made to bring it in line with globally recognized market principles must be shown and his actions justified. The problems with the rationing system that prevailed previously must also be exposed and explained.

    A policy to govern the issuing of government fixed income securities must be worked out.

    Then we can move forward.

    Until then we will continue as the Monkey kingdom.

    • 3
      1

      Yet the final verdict was that the government lost 1.6 bil while AM’s son in law somehow made 5.6 bil. Alocious got undue advantage and AM is directly responsible. I don’t think this has anything to do with the new system AM introduced, rather its to do with the fraud committed.

  • 6
    4

    The Prime Minister is totally fed up with the media who have NOT understood a simple concept. Why? Because they have NOT been able to explain simple procedures at auction to their readers. They have a set agenda, and they are ignorant.

    You go to an auction and you bid. You are only awarded if you offer the best price. If you ask for more than what you are awarded it is NOT your fault if you get what you asked for as the auctioneer has been hiding some stuff that he decides to also sell at the same price. By the way it so happens that I am the only bidder too, as the others were too rich and too lazy to wake up to come and bid with me!

    Then you go out and sell what you bought for Rs 100 at Rs 200 and make a Rs100 profit, why is that not legitimate.

    In Sri Lanka the dumbos who are pontificating here, and in all the Bond Scam comments want the person to repay the profit he made from selling it and worse be prosecuted for being given the products in the firs place!

    Surely it is the fault of the CBSL or Public Debt Department of the Central Bank, and NOT Perpetual. It seems that no one is able to explain this simple concept, and worse as our Politicians are not even ATA PASS are wollowing on both sides barking up the wrong tree and getting their knickers in a twist.

    • 5
      5

      Kind of shows the national average IQ of 79 in action. Not at all pretty. Makes Sri Lanka look like a nation of fools. which perhaps is just what it has come to…

      • 4
        5

        It will also be interesting to know which other primary dealers bid in the same range as Perpetual Treasuries and how much each of them got of the 4 billion that Perpetual Treasuries did NOT get.

        For those who know next to nothing about Arjun “Mahendran joined the Central Bank of Sri Lanka, he had served as a senior economist before moving into investment banking in Singapore going on to serve as Managing Director and Chief Investment Strategist-Asia at HSBC Private Bank. He was responsible for driving research and providing in-depth analysis of markets in the Asia Pacific. Mahendran also led the analytics team in interpreting market economics and developing investment strategies for HSBC’s clients in the region.Later he served as Chief Investment Officer-Wealth Management division at Emirates NBD” In Sri Lanka there is a long held tradition that the “Baas” knows better than the engineer. Thats another outcome of the IQ of 79.

    • 2
      3

      Look you crooked Patta Pal and Crazyoldshit,

      If it is an Open market or otherwise, the Central Bank of SL should do its “Due diligence” thoroughly and establish what the market rate is(ie the interest rate/(price) at which the market is willing to buy the bonds). That is the price or in this case the rate of interest the forces of supply and demand determine.

      Here it has not been done and his son in law has clearly been tipped off by AM. AM need not sit down with his son in law, a phone call will do. The Tippee rules.

      Its a clear case of insider dealing, instead of shares, its bonds.

      AM, PM and SIL SHOULD ALL BE PROSECUTED AND SENT TO JAIL LIKE RAJ RAJARATNAM (currently in the New York penitentiary).

      Raj Rajaratnam’s business model was simply “insider dealing”. It runs in the crooked Tamil genes. Some of the Tamils are really brilliant I know. They make a lot of money to blow the place up.
      Just look at Velu and the diaspora. They had so much money, billions of dollars infact, but they did not even build a single toilet for the Tamil people in Sri Lanka, whom they claimed to be fighting for.

      But its the govt of SL as always, that is rebuilding NP (and EP)
      Viz upgrading roads, schools, hospitals, bridges, in short all the infrastructure. All three billion US dollars worth of it. All the useless Tamils do is complain about it, whilst having done nothing (apart from blowing the place up and kidnapping Tamil children on the way to school/kovil to make them in to child soldiers and suicide bombers)when they had the opportunity.!!!

      I rest my case. Good night.

  • 6
    0

    De Silva: If you had the time to watch TV live debate recently where Mr. Wijedasa Rajapakse, the Minister of Justice participate, answers to many of your questions would have been found. He said: ” These Commissions and Civil Societies think they have to Govern the country and not we the representatives of the people” and directly challenged to name at least few of the members of that civil society originated by Rev. Sobitha. What does that convey to you? To me, it was a direct HIT at the “Independence” of the working system of these Commissions established under the very Constitutional changes that this Government brought into being. Mind you he is the Minister of Justice and if that is the ATTITUDE towards the very purpose and functioning of these Independent Commissions, what more can you expect?

    • 3
      0

      Douglas – “Mind you he is the Minister of Justice and if that is the ATTITUDE towards the very purpose and functioning of these Independent Commissions, what more can you expect? “

      No sane person will “expect” anything resembling ‘Justice’ from Wijedasa – except perhaps more of the same old shit. He’s just another phony masquerading as a “Minister of Justice”.

      What a joke!

      • 0
        0

        Joker

  • 3
    1

    Hon. PM, get rid of bad friends for the sake of country and the UNP.

    Take that culprit to courts unless you’ll be out of politics and one day you’ll be summoned.

  • 5
    0

    I do not want to respond to crazyoldmansi- He is crazy all right.
    Patta Pal also does not deserve attention as his name implies, he
    talks not the truth.

    On silencing the media, Ranil knows better than anyone else. He
    is a very devious manipulator and the plantation ministry should
    have been under him. He has his own cronies (or bedmates) in the
    media through him he plants big elephants or amazing lies.

    Until Jan 8 2015 there was no arjuna mahendran. He was in cuckoos
    land in Singapore. After that, he makes his present. The entire UNP
    and the country is being forsaken for him. Why is Ranil doing that?
    The reasons which are close to RW’s heart are known only by a handful.

    One hen is better than all the UNP and the entire Government. Even
    the country comes next.

    • 0
      3

      Why not call a spade a spade…rather than a “hen”…and get that rancid phobia out of your heart.

  • 3
    1

    Ranil Wickrmasinghe is well known con-man politician. He has established himself as one of those. But, Sri lanka voters like corrupt people. so here we are.

  • 1
    0

    Politicians should not insult the intellegence of the common man.In some cases robery is inherited through genes as seen from the case of the CB affair.Political leadership seems to be making a mockery of the promised Yahapalanaya. President wants to be informed in advance of investigations into currupt deeds of a selected few.That tantermounts to interference in the administration of justice.PM going all out to shield broad daylight robber barrons.Politicians of all hues are getting together in the Parliament and outside to secure facilities and previllages beyond reasonable levels and expectations when the ordinary poor is suffering without the basics. Some earn billions overnight through currupt acts. Where are we heading to?. The only redeem is for the civil society to get on to streets and opt for continued democratic (non violent)protests until these anti social elements are thrown out or agree to do what is correct irrespective of kinships,frienships, other allegiences and personal interests continuing to undermine the overall welfare of the society as a whole.Leaders of the Civil Society Movements,please take the lead. There will be thousands to join you. In the name of this beutiful country ruined by the politicians and in the name of future generations to be borne please strat now. As has been proved in the recent only the Civil Right Movements can restrain this lot.Otherwise it will be too late. “Country Men Arise”

  • 1
    0

    He is still an Investment Advisor at the PM’s Office.

  • 1
    0

    People who are responsible for this crime against the nation are Arjuna Mahendran, Ranil Wickramsinghe and Maithripala Sirisena. The latter is for not taking prompt action against this mega crime. There are no Mr Cleans in this country, we only have mega crooks and lesser crooks.

  • 2
    0

    I am on principle against those who “make” money rather than earn a wage through a honest days work. I do not know whether Mahendran or his son-in-law have broken the law, but one has to admit that it smells. As a public servant Mahendran should also realize this. What is really surprising is that the PM – the seasoned politician that he is – is failing to realize that this is really hurting him and his party because it. Is he being stubborn or has power gone to his head

  • 1
    0

    One could ask the obvious question from PM “Have you got no shame” then again he never had any to begin with.

  • 0
    0

    Good that he did not use white van to intimidate those who are not in line with the government.

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