Jan 27, 2018

Bond paper closes Featured

The much talked about Treasury bond newspaper ‘Janayugaya’ published as a daily and weekend paper by Integrated Media Networks (Pvt) Ltd, has been closed down, it is reported.

The Director of the Editorial Board, Thushara Gunaratne had notified the staff last Wednesday that the newspaper would be shut down and informed them to find alternative employment.

It is reported that Rs. 25 million was required for the payment of salaries of this newspaper.

At its inception several prominent journalists from other state and private media institutions were recruited at high salaries.

The employees told Sri Lanka Mirror that most of them were recruited by Thushara Gunaratne.

However, none of the employees had received compensation as a result of the closing down of the paper, while the last salary they had received was for the month of October last year.

But, according to the officials of the newspaper, the printing press would continue to function.

Meanwhile, the workers claim that the owner of the newspaper, controversial figure Arjun Aloysius had been given Rs. One Billion at the commencement of this newspaper in order to establish a separate company for the Integrated Media Networks (Pvt) Ltd, administrators.

As a result the company had paid Rs. 5 million monthly for bank loans.

However, in order to clarify the above mentioned allegations and get a response from him, we made several attempts to contact Arjun Aloysius on several occasions but our efforts were unsuccessful.

Speaking to ‘Sri Lanka Mirror’, Mr. Thushara Gunaratne said that although he functioned as the Director Editorial of the Janayugaya newspaper, he was not a member of the company’s Board of Directors. Therefore, he is unaware of the company’s dealings.