Legal action against Mahinda over unbearable debt!

 

Reliable sources say UNP legal experts are considering taking legal action against former president Mahinda Rajapaksa on the charge of trapping Sri Lanka on a huge debt crisis.

 

Mahinda to be arrested over financial misadministration charge?

The presidential immunity against prosecution under the constitution was nullified by the 19th amendment and a president could be taken to court for wrongdoing committed during his/her tenure, the legal experts say.

The sources say they will hand over a related report and discuss it with justice minister Thalatha Athukorale next week, after which they will hold talks with Attorney General Department’s senior officials.

Almost projected revenue to go to pay back debt!

The state’s projected revenue for the year 2018 through tax amendments and other avenues will not exceed Rs. 2,200 billion. However, Rs. 1,900 billion is needed in the year to pack back the loans and the interest obtained during the Mahinda Rajapaksa regime.

Furthermore, Rs. 1,400 billion is needed to pay salaries and overtime payments of state employees, and capital expenditure stands at Rs. 700 billion, including Rs. 385 billion for road development.

Finance ministry reports say Rs. 1,800 billion will have to be borrowed to cover the projected expenditure for 2018. Since the borrowings mature in 2019, a bigger borrowing is needed in that year, taking the country to a serious economic crisis, according to economists.

 

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