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Govt to sell JVP gold haul

by Ravi Ladduwahetty

The Government has authorised the auction sale of 8947 items of gold and jewellery currently lying in the vaults of the Central Bank which have been plundered by the JVP during the 1989/1990 youth insurrection, Minister of Rural Economy and Deputy Minister of Finance Bandula Gunawardena told the weekly Cabinet news conference at the Government Information Department auditorium yesterday.

Minister Gunawardena was addressing the conference in the absence of Cabinet spokesman and Minister Prof. G.L. Peiris who is currently in India.

According to the Deputy Finance Minister, these items amount to around half a ton of gold, comprise 1992 rings, 2528 earrings, 1042 chains and 294 gold coins, will be auctioned in bid to invigorate state coffers which are virtually empty.

The proceeds by the sale of these items will be used for expenditure for the proposed Youth Corps. The Government has also taken this decision as the JVP has entered mainstream politics and also due to the belief that they will not commence another insurrection, the Deputy Finance Minister said.

The Government has also decided to sell by public auction all vehicles, textiles and other items of gold which have been confiscated by Customs to raise revenue.

The total Government revenue for the year 2001 has been Rs. 278 billion while the interest payments on borrowings and the salaries bill of public servants cumulatively amounts to Rs. 200 billion, leaving a mere Rs. 78 billion for all other activities, he said. 

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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