IMF—Bailout will FAIL-Unless Corruption in Government Banks Addressed(PCEJ)

On a Press briefing held at Colombo by Sri Lanka’s (PCEJ)People’s Collective for Economic Justice, Bank of Ceylon National Employees Union’s chairman Mr. Channa Disanayaka has stated “the presents day government and IMF led efforts to rebuilt Sri Lanka’s economy will not be fruitful and will eventually fail unless everyone including the government it self addresses the deep rooted corruption imbedded within Sri Lanka’s major government banks.

Mr. Channa Disanayaka further stated “each and every action plan put in place to stabilize Sri Lanka’s economy and to rebuild it, will eventually fail unless corruption has been sorted through and the economic justice prevailed. Throughout Sri Lankan history this is what has taken place.

Back in 2020 the when Mr. Mahindra Rajapaksa was the minister of finance as well as the prime minister we have requested him to carryout a proper assessment of all the Government banks and their activities, as a result of our request a committee was appointed under a former retired hi-court judge Mr Sisira Rathnayaka acting as the committee Chairperson.

So far as we are aware with almost 2 years of investigations and assessments carried out by the committee as a result, a detailed report was produced and was handed over to Minister of finance back then Mr. Mahinda Rajapakse, unfortunately for this date, details of it’s findings hasn’t been disclosed to the public.

It is very obvious why they are so much hesitant and reluctant to made this committee’s findings public, because with it, it will reveal the level and scale of corruption been taken place within government held banks.

From the present President he is also the minister of finance we have requested him to carry out an assessment of activities been taken place on all major government banks as well as an impartial audit been done on the bank of Ceylon as well. But with no avail. So far nothing has been done behalf our requests.

Ever since from the years 2020 to 2023 within the bank of Ceylon alone there were so many major fraudulent activities been taken place and we as the National workers Union of bank of Ceylon were left with no relevant authorities willing listen to our complaints or to investigate behalf of us. Only viable option left for us was going in front of courts and lodging complaints so it will initialize an investigation to be conducted.

People need to understand to this day such levels of corruption is been taken place where all the taxpayers money has been looted by people in power. Unless these economic crimes been put an end to, Sri Lanka is unlikely to recover from its economic downfall.