November 10, Colombo (LNW): Several directors of People’s Bank have reportedly been replaced following their efforts to raise concerns over possible irregularities in the construction of the bank’s new head office building.
The project, which was originally budgeted at Rs. 4.4 billion, is now expected to close at Rs. 9.4 billion. Opposition lawmaker Dr. Harsha de Silva recently brought the matter to the attention of Parliament, highlighting the significant cost escalation.
In response, depositors and stakeholders are calling for a comprehensive inquiry into the use of funds and the circumstances surrounding the project.
People’s Bank Director Forced Out
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