Ten businessmen with political ties default on Rs. 650 billion in loans : MP Patali
MP Patali Champika Ranawaka revealed that ten businessmen, associated with both former and current ministers, have defaulted on loan repayments totaling Rs. 650 billion.
He revealed this during an event held in Homagama recently.
“A large number of influential people, including former ministers and a powerful current minister, have evaded taxes. State banks are not recovering defaulted loans from them,” Ranawaka charged.
The MP was commenting on the Government’s proposed new wealth tax and other economic reforms, which he said has increased the tax burden on the public.
“The richest businessmen in the country have been exempted from paying taxes amounting to some Rs. 1 trillion. If they had not been granted this exemption, there would have been no need to impose the tax at the beginning of this year,” Ranawaka stated.
He further criticized the government’s reluctance to recover funds from defaulters, which he said is burdening the public and leaving them helpless when attempting to secure loans from state banks.
2024-06-18