The Government has taken steps to establish a Special Presidential Task Force on Recovery of State Assets, Cabinet Spokesperson Dr. Rajitha Senaratne stated today at the weekly cabinet briefing held at the Government Information Department.

He pointed out that the main purpose of this Task Force is to investigate, identify, trace, seize and transfer to Sri Lanka, state assets and revenue due to the Government of Sri Lanka which have been illegally or unlawfully acquired or procured by Sri Lankan nationals and other persons acting on behalf of Sri Lankan nationals or otherwise, and are being concealed or kept outside the territory of Sri Lanka by such persons and others acting on their behalf.

He further added that the Task Force should take effective steps to cause their seizure and transfer or return to Sri Lanka to be confiscated and vested in the General Treasury.

Dr. Senaratne said that details of bank accounts in which illegally transferred money has been credited are now being revealed.

He said that details have been uncovered on three such bank accounts in National Bank of Dubai, with total deposits amounting to more than US $ 2 billion.

The Minister added that a total of more than US $ 10 billion of illegally transferred money is thought to be deposited in foreign banks. He added that this amount surpasses the total foreign reserves of the country.