Due to the controversial bond auction while Mr. Arjun Mahendran was the Governor of Central Bank the government lost Rs. 400 million at the start of the bond auction as the government received only Rs. 9.658 billion despite it expected to receive Rs. 10.058 billion from the auction revealed Attorney General Gamini Wijesinghe giving evidence at the special Presidential Commission of Inquiry to probe bond issue yesterday (12th).
He emphasized that 905% more bonds than the government needed had been released to the market by 27th February, 2015.
Quoting from reports he pointed out that during the last 6 years there had been 248 bond issues and in certain such auctions more funds than the government needed had been presented but they had never exceeded 400%.
The Attorney General pointed out that the money needed by the government could have obtained from the EPF by 27th February, 2015 and revealed money in EPF too has been lost due to the move to invest money from the fund elsewhere