Jan 26, 2017

CB bond sale money to buy radio, TV channels? Featured

President Maithripala Sirisena is looking into attempts to buy several radio stations and a television channel by using the money earned through the Central Bank bond sales, reports say.

He has instructed the TRC not allow the transfer of ownership of any radio or TV company without his knowledge.

Our attempts to reach secretary to the president P.B. Abeykoon and TRC director general M. Kinsley Fernando for details were unsuccessful.

TRC’s acting director/manager (spectrum) E.N.P.K. Ratnapala wanted us to send our questions in writing, saying he would reply with the DG’s approval.

The Central Bank has prohibited Perpetual Treasuries, accused over the CB bond issues, from transferring its money to other accounts and also imposed restrictions on its transactions.

This has affected PP’s plans to start a newspaper.

According to reports reaching Sri Lanka Mirror, the money earned through the CB bond sales are to be invested in two media institutions.

Due to this, PP is continuing to publish advertisements to invest in bond issues.