Opposition Leader Sajith Premadasa Demands Disclosure of Top Loan Defaulters in Parliament: Demands Specific Details of "Top Ten Sharks"

November 24, 2023

Opposition Leader Sajith Premadasa called for transparency and accountability by requesting the disclosure of the top 10 individuals or companies labeled as 'sharks' who have taken substantial loans from the Bank of Ceylon and the People's Bank but have failed to repay.

Premadasa argued that there is a perception among the public that large-scale businessmen are not held to the same standards as smaller entrepreneurs when it comes to loan repayment. He stressed the need for equitable application of the law, asserting that it is unfair to enforce different standards for small and large businesses.

Raising a question under Standing Orders 27(2), Sajith Premadasa expressed serious concerns among the public regarding the recovery of loans from prominent businessmen. He highlighted the crucial role of loan repayments in sustaining the income of banks, emphasizing that failure to collect loan amounts could lead to liquidity problems for the banks.

The Opposition Leader called for specific details regarding the top 10 companies or individuals labeled as 'sharks' who have allegedly failed to repay loans to the Bank of Ceylon and the People's Bank. He sought information on the loan amounts, the corresponding interest, and whether any decisions had been made to forego the collection of loans and interest.

Premadasa pointed out the distressing situation faced by numerous small industrialists in the country, whose businesses are being auctioned off within the confines of the law. He highlighted the urgency of addressing the issue by providing detailed and truthful information about the top loan defaulters.

In response to Premadasa's request, Leader of the House Minister Dr. Susil Premajayantha emphasized the importance of securing bank loans and acknowledged the significance of the Opposition Leader's question. He encouraged the gathering of information and its subsequent disclosure to ensure transparency.

Sajith Premadasa reiterated the severity of the economic challenges facing the country, describing it as bankrupt, and urged the provision of comprehensive details, including names and locations, of the top ten loan defaulters.