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Bank Employees' Union wants Basil to look into People’s Bank - Chinese Govt. fiasco

30 Oct 2021

The Ceylon Bank Employees' Union (CBEU) has requested Minister of Finance Basil Rajapaksa to look into the finances of the Chinese fertiliser dealings.  Rajapaksa was informed of the same through a letter sent by the CBEU, and details of the same were briefed via a media statement. The statement implies that an unpleasant and unhealthy situation may arise, as already informed by the Chinese fertiliser company, if debts are not paid on time. It goes on to say that Sri Lanka would not benefit from such ridicule if in case a situation arises.  Furthermore, the statement mentions that the general public that are already banking with People’s Bank or intend to do so, might lose trust in the bank, which will cause damage to the reputation of the entity.  The Finance Minister was requested to intervene at the earliest to stop the spread of unwanted and inaccurate information that is currently being circulated via media about the bank.  It goes on to say that the People’s Bank made such decisions based on legal implications that might arise, and based on legal advice and a court order, thus it is not the fault of the People’s Bank that the funds were not released to the Chinese Government. 


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