Professor Charitha Herath said that a program is being launched to write off the billions of loans taken from state banks as bad debts through the restructuring of domestic debt.
He pointed out that information in this regard was revealed in the COPE committee.
He said plans are underway to ‘wipe out’ debts of present, as well as previouse politicions, some mega business personnels loans which are not yet repaid to the state banks . Recovery of these debt are essential , when we were in the COPE committee raised this issue many times. However now we come to know some of these loans are being scheduled to place in to ‘dorment and deceased’ catagory which is not proper way of managing debt in state banks.