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JVP: Cabinet Of Ministers Responsible For Hedging Deal

Jul 13, 2011 9:12:55 PM - thesundayleader.lk

The JVP has said the government could raise US$ 162 million to pay Standard Charted Bank as ordered by a Londoncourt by auctioning the properties of the Cabinet Ministers, the Central Bank Governor and other officials responsible for the hedging deal.

JVP parliamentary group leader Anura Kumara Dissanayake told a press conference that Central Bank Governor Ajith Nivard Cabraal had pushed for the hedging deal and that the Cabinet, with President Mahinda Rajapaksa’s support had approved the controversial hedging deal.

He said that Central Bank Governor Cabraal had made a presentation at the Cabinet meeting on September 6, 2006 emphasizing the need to strike a hedging deal to purchase fuel from for the country.

The Cabinet had then appointed a committee comprising some Central Bank officials to study this proposal and the hedging deal was finalized following the recommendations made by the committee.

According to Dissanayake, the responsibility therefore lay in the hands of the Cabinet of Ministers.