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CMC
owes PB 600 m
By Wilson Gnadass
The Colombo Municipal Council (CMC) owes
Peoples’ Bank- Town Hall Branch, a staggering Rs. 600
million, a CMC spokesman said yesterday.
According to the spokesman, there is a Rs. 600 million Overdraft
pending and the Council has not yet found a way to repay this
huge amount.
According to the spokesman, the revenue that the CMC accrues
is mismanaged and misused by corrupt Council members.
“There is no accountability or transparency. The Mayor
does not know what is happening and all men under him are
cheating the ratepayers,” he said.
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