People’s deposits cannot be played with, Harsha responds to Cabraal’s resolution on investing CSE

People’s deposits cannot be played with, Harsha responds to Cabraal’s resolution on investing CSE

21 September 2020 08:38 am

SJB MP Dr. Harsha De Silva responded to State Minister of Finance Ajith Nivard Cabraal's resolution on investing the Colombo Stock Exchange (CSE) through a portion of Rs. 10,000 billion in deposits held by local banks and fiscal companies.

In the removal of two heads of the Monetary Board of the Central Bank of Sri Lanka (CBSL), the foundation to governing finances politically biased has fully been laid, Dr. Silva alleged, as two new heads were appointed in replacement in the objective of adhering their own people within the body. 

"With the removal of the Audit Commission, the 20th Amendment is preparing to impose more restrictions on the Central Bank's audit," the SJB MP pointed out. "Rs. 9000 billion in banks and Rs. 1000 billion in finance companies. The sum, Rs. 10,000 billion, is the hard earned money belonged to people."

He added, "Now there is a big risk when investing in the stock market. Mr. Cabraal knows too well of this situation. What happened in the end? Ordinary people bought shares for 150, 180, 200 rupees, but within a few days it collapsed."

The process is indicative of the fact that the CBSL is being involved in a dangerous program and preparing themselves to use the money belonged to people as they desire, Silva emphasised. 

In conclusion, people's deposits cannot be played with, the SJB MP added, stressing that they will be paying their strict attention on the matter.

Dr. Silva made this observation speaking to reporters after attending a public gathering held in Galle yesterday (20). 

MIAP