MaRa improvises laws to help LOLC and LB finance Co. Bigwigs ? laws changed within a?night!
November 19, 2012
(Lanka-e-News -19.Nov.2012, 4.00AM) The permission granted to the Govt. servants in the budget to sell their tax free car permits they receive , according to reports reaching Lanka e news is a ploy resorted to by regime chief MaRa to help the owners of two principal Finance Institutions from the clutches of the law. The Govt. grants permits for the purchase of vehicles tax free to its high ranking officers based on their period of service, and those are not transferable to anyone for several years. In other words the vehicle is non transferable to any other person. Many of the Govt. servants who do not buy the vehicle sell their permits as a practice, but the vehicle continues to be in the name of the transferor, that is the Govt. servant. until the time bar is over . It is done based on an understanding between the two parties. However , a second purchaser of such a vehicle cannot secure a leasing facility because he is not entitled to tax relief .
Nevertheless, in spite of the law operating in this manner ,the owners of LOLC and the LB Finance Co. have been engaged in illegal transactions and making profits. That is by providing leasing facilities to the party that hasn?t the tax relief permit.
Following a dispute between the transport Ministry Secretary , Sampath Bank Chairman and Vice President of the LB Finance, Dhammika Perera , and Finance Ministry Secretary Jayasundara , the latter had through the custom officers , ordered to seize all the files of these illegal transactions of the two aforementioned Finance Companies.
Subsequently , Dhammika Perera and LOLC Vice President Ishara Nanayakkara , have met MaRa and entreated him to come to their rescue in their unlawful activities. They have whispered to him , we will look after you too, it is learnt. MaRa had then introduced the regulations to grant transferable vehicle permits without a time bar to the Govt. servants . These sudden regulations were introduced after the budget in order to rescue these two crooked leasing Co. Bigwigs regardless of the laws.
The implication is , to the Medamulana frogs , what is paramount is filthy lucre and not the country?s laws or economy . So they exploit every situation o make it a money spinning operation in their favor violating all rules , regulations and laws . Little wonder the country is in the worst economic muddle with the rich Rajapakses becoming richer while the poor becoming poorer .
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