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| Sunday, 19 December 2004 |
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ACL Pramuka Bank proposals to be presented before parliament by Rohan Mathes Asia Capital Limited (ACL) proposals to ressurect the defunct Pramuka Bank, previously rejected by the Central Bank are to be tabled in Parliament next week, Commerce and Trade Minister Jeyaraj Fernandopulle said. Minister Fernandopulle told the Sunday Observer that the ACL proposals submitted to the CB earlier, to re-vamp the bank and pay-up the 14000 odd depositors made destitute overnight, seemed feasible to him but was not accepted by the CB because of other ulterior motives. "They have not done a suitable study on the proposals prior to their rejection of the same and given wrong information instead", he said. Fernandopulle pointed out that the CB had blamed the Road Development Authority (RDA) and the Public Trustee for not agreeing to the ACL proposals. He said, however, that this was not the reality as the RDA and the Public Trustee were prepared to give their assent to the ACL proposals. He said that there was reason to believe that some CB officials were deliberately acting in a non-transparent manner to tarnish the good name and image of the UPFA government. The Central Bank's action leading to the liquidation of Pramuka has been questionable and deliberate needing scrutiny by the Parliament. The Finance Ministry officials, including Minister Amunugama and the Secretary P.B. Jayasundera had welcomed the ACL's program of re-structuring the stalled bank, with a view to compensate the depositors who have been deprived of their hard-earned life savings. Three depositors have even committed suicide while some others have passed away, deprived of crucial medical treatment due lack of funds tied up with the stalled bank. He argued as to why Pramuka bank had not been rescued only by the CB, when other banks with UNP ministers' assistance had been ressurected by the CB by pumping large sums of public funds into them. "There are allegations that some other rival banks have even bribed CB officials to steer Pramuka into liquidation", the minister added. |
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