RECOVER FRAUDULENTLY AMASSED WEALTH WITHOUT IMPOSING MORE TAXES: GL

The government should take measures to recover funds amassed fraudulently by shady individuals instead of imposing more taxes on the citizenry, Professor G.L. Peiris said yesterday. Addressing a news briefing, he said measures should be taken to recover the loss caused by the bond scam from former Central Bank Governor Arjuna Mahendran.

“A loss at least Rs.1 trillion would be incurred by the State as a result of the bond scam. The Bribery Commission (BC), which arrests Principals and police OICS for obtaining bribes, should focus their efforts on taking legal action against Mahendran. The BC has also said some 32 MPS obtain funds from underworld figures. Why not take action against them?,” Prof. Peiris inquired.

He said there was a pepper re-exporting scam that has come under the spotlight and Minister Daya Gamage has revealed that powerful individuals are behind this scam. “These scams must be stopped and losses recovered,” he said.

Meanwhile, he said Auditor General Gamini Wijesinghe has said 25 per cent of State income is being wasted due to corruption. “If the government can mitigate the corruption, it will be able to save this money, which is being wasted. This way, there is no need to impose more taxes on the people,” he said.

A loss at least Rs.1 trillion would be incurred by the State as a result of the bond scam. The Bribery Commission (BC), which arrests Principals and police OICS for obtaining bribes, should focus their efforts on taking legal action against Mahendran