GK depositors’repayment process continues amidst hiccups

The Government has re-affirmed that Golden Key depositors will be repaid their money using a facility of Rs. 8.5 billion from the Treasury in accordance with cabinetapproved proposal of Prime Minister Ranil Wickremesinghe, Finance Ministry officials said.

The Treasury funds would be sufficient to repay 41 per cent of the deposits of the majority of around 9,000 GK depositors while the balance will be paid by liquidating GK assets, an official of the ministry told Business Times.

He noted that around 2000 depositors with account balances ranging from Rs.10 to Rs.20 million will be paid within two months as promised by Finance Minister Ravi Karunanayake and no one should entertain unnecessary fears.

The Treasury has already transferred a sum of Rs. 544.3 million, to make the final 41 per cent settlement to around 3,000 GK depositors and the present directors and staff of the company should bear the responsibility of disposing money speedily in accordance with the government directive.

An activist of the GK pres- sure group, Malcolm De Silva told the Business Times that the new payment process has been initiated by the Finance Minister following submissions made in writing to the president and prime minister by GK Disgruntled Women Depositors Association since January this year.

Secretary of the Association Pushpa De Silva noted that GK depositors will not allow any person to block the payment process. She added that her association worked hard to make the repayment a reality without going after publicity and positions.