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Funds+lost+by+Bond+Scam+to+be+recovered+soon%3B+Attorney+General%E2%80%99s+Department+expedites+process
Sunday, 10 February 2019 - 13:26
Funds lost by Bond Scam to be recovered soon; Attorney General’s Department expedites process
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The Attorney General’s Department has focused its attention on recovering close to 8.5 billion rupees that was lost through the controversial bond issuance, from the respective parties.

The Presidential Commission of Inquiry that investigated the controversial bond issuance had recommended inquiring whether any changes should be made to the existing legal framework to facilitate such action.

Accordingly, the adequacy of the Registered Stock and Securities Ordinance which is currently in force will firstly be considered.

It is reported that officials at the Attorney General’s Department held discussions in this regard with the Prime Minister as well.

Additionally, attention will be paid towards recovering the losses incurred by 6 state institutions including the Employees’ Provident Fund and the National Savings Bank, from the controversial bond issuance.

The Central Bank has already frozen a sum of 12 billion rupees with respect to the controversial bond issuance and it is anticipated that a legal framework will facilitate the use of these funds to recover the losses.
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