By Shamindra Ferdinando in The Island, Nov 1, 2023Justice Minister Dr. Wijeyadasa Rajapakshe, PC, yesterday (31) alleged that the country had been deprived of foreign exchange to the tune of billions of USD over the past three decades due to the failure on the part of the National Aquatic Resources Research and Development Agency (NARA) to establish a system to sell hydrographic maps for ships entering Sri Lankan waters. Addressing the media at his office…
Posts tagged as “billions”
by Darshana Sanjeewa Balasuriya in Daily Mirror, July 14, 2023Preliminary investigations by the Criminal Investigations Department (CID) against Pastor Jerome Fernando have so far revealed that funds in billions including foreign currencies have circulated via his local bank accounts on a regular basis, Daily Mirror learns. Sources said legal action against Jerome Fernando under the Money Laundering Act cannot be proceeded as of now because the majority of funds he had accumulated, had been received…
by Alan Rappeport in The NY Times, Apr 15, 2023WASHINGTON — China, under growing pressure from top international policymakers, appeared to indicate this week that it is ready to make concessions that would unlock a global effort to restructure hundreds of billions of dollars of debt owed by poor countries. China has lent more than $500 billion to developing countries through its lending program, making it one of the world’s largest creditors. Many of those…
Report in The News, Feb 8, 2023KARACHI: Millions of dollars are being smuggled into Afghanistan from Pakistan every day, providing some support for the squeezed economy after the US and Europe denied the Taliban regime access to billions in foreign reserves. For Islamabad, the outflows are exacerbating a rapidly developing economic crisis, foreign media reported. Traders and smugglers are bringing as much as $5 million across the border daily, according to Muhammad Zafar Paracha, general…
Editorial in Dawn, January 17th, 2023WHEN it comes to press freedom, the arrest of journalist Shahid Aslam highlights the weaknesses in our democracy and the state’s failure to do the right thing. Mr Aslam was arrested by the FIA after the publication of an online story about retired army chief Gen Qamar Bajwa’s taxes and wealth statements last November. According to the article, Gen Bajwa’s family amassed billions of rupees in the last six years.…