Hundreds of thousands of non-public white/blue collar employees who contributed with confidence and trust, a slice of their hard-earned wages over through their careers to the safety of EPF/ETF funds, run by the Central Bank, anticipated a return of a healthy lump sum of their savings along with their employer’s contribution of 12 plus 3 percent plus investments interests added by the custodians. But what had actually happened?
Those corporate sector wage-earners, especially, the blue-collar grades who are sole dependents of the “Punt Eka” (EPF/ETF Funds) to give their children in marriage build or repair their abodes and also make ends meet during the evening of their lives after retirement, were traumatized by a gang of thieves exactly five years ago. The robbers ‘broke’ into the coffers of the Central Bank. It happened during broad daylight on February 27, 2015. Unbelievably, only on the 49th day in UNP/SLFP Yahapalana administration which promised to wipe off corruption.
Party chairman’s illicit move
The distressing news published during the first week of March 2015, revealed unconfirmed reports about a chairman of the then ruling party, who is a complete stranger, had access to a decisive meeting at Central Bank’s Singaporean Governor’s office just the day before the great robbery, and participated in the conspiracy. The then Ministers Ravi Karunanayake Finance, Kabir Hashim, Highways, Treasury Secretary, and few others as they agreed on the government’s urgent requirement to raise 15 billion rupees. This unprecedented and surprise occurrence of an outsider participation at an all important meeting at CB made many eye brows raised.
Fiscal authorities even beyond our boundaries, who regularly deal with international monetary transactions, have expressed concerns. They were even more surprised listening to Prime Minister Wickremesinghe’s subsequent statement in Parliament made 10 days later, mentioning the names of the participants at that meeting, but deliberately leaving out his friend, the outsider. Other government members who joined the cover up drama, who wrote books, made ‘foot notes’ absolving the robber gang leaders, producers, script-writers and directors of the drama had been well looked after by them.
Lost investor confidence
Consequentially, the Rupee depreciated, public debt increased, inflation figure rose to double digits, growth retarded dropping GDP index below 3; monetary policy had to be tightened and; development driven back by decades; lenders and investors, quite understandably, lost faith in our systems and the exchequer.
The PCoI (2015- 2016 Scams), in its1257-page report recommends ac-tion against Ravi Karunanayake, former Finance Minister under two vital counts; firstly, legal action against the ex-minister Karunanayake for giving false evidence at the commission; and secondly, to prosecute him under the Bribery and Corruption Act, for the alleged payment of rent for an apartment occupied by his family, by Walt and Rowe belonging to the Aloysius.
The thieves and rogues would go scot-free; politicians and their cronies who shared the loot and those who helped cover up expecting lucrative kick-backs are now planning to claim extensions to their Parliamentary terms by going before the voters in April. Former President Maithripala Sirisena who knowingly or unknowingly assisted the scammers in UNP/SLFP alliance (to hide the truth from public and win more seats at 2015 general elections) dissolved the Parliament the day before the Dew Gunasekara MP headed COPE report that was scheduled to be presented in the House. He currently holds the Chairmanship of the most powerful political alliance in the island.
Political crooks in UNP/SLFP who shared the loot by receiving contribu-tions for 2015 election campaign were honoured with Cabinet portfolios, non-cabinet ministers and deputies in the yahapalanya, and as party general secretaries, after the August 2015 Elections. Rogues continue to en-joy all luxuries in life with their families, thanks to ill-gotten wealth with the ignorant voter yet undecided on their destiny.
The then Superintendent of Public Debt giving his reasons stated that when investors know that the Government requirement is huge, the offers will be at a elevated rate of interest; therefore, intention was to raise the balance Rs12 billion through direct placements[DPs].
The Governor’s unauthorized visit to the PDD on the D-day, and asking the debt department to accept bids for the Rs 20 Billion, and the Superintendant’s objections to his advice, and Governor Mahendran’s subsequent request to allow bids for Rs 10 Billion, adds to the claims by analysts of meticulous planning of the crime by highly influential perpetrators.
Grand Old Party splits itself
Replying to opposition’s allegations in 2016 that Governor Arjuna Mahendran had fled the country; on October 28, 2016, then Prime Minister Wickremesinghe defended his friend in parliament saying that Mahendran met him a few days before, and assured that he will attend a wedding in Singapore and will soon return; Wickremesinghe ended by saying, “Unlike your Udayanga Weerathunga, Arjuna Mahendran will not flee the country.” Udayanga is back, and under custody, while poor Ranil is left with no alternatives but to look after his life-leadership of UNP in the midst of anti-Ranil campaign gaining grounds at Srikotha, and splitting the Grand Old Party symmetrically into two halves; for which crime history will hold him responsible.
Gotabaya Rajapaksa, the newly elected Executive President has laid the foundation for a corrupt-free, law abiding institutions to run the nation; undoubtedly a major triumph of the new government. People do not expect any of the unscrupulous political elements within or without the government to undermine his efforts through undue influence or interference in any manner.
Authorities should be more responsive to concerns of the public and their anxieties and disapproval of culture of corruption entrenched in our society.
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