-By A Staff Writer
(Lanka-e-News -23.Aug.2024, 11.30 pm) Reports have surfaced linking Sajaad Mawzoon, owner of Pyramid Wilma, to the funding of Sajith Premadasa’s presidential campaign under the SJB banner. Mawzoon, who is at the center of the sugar scam scandal, allegedly profited a staggering 1022% by exploiting a reduction in the sugar tax from 50 rupees to 25 cents. The fallout from this scheme is estimated to have cost Sri Lankan taxpayers over 85 billion rupees.
The alleged scam is said to have paved the way for Mawzoon’s financial backing of SJB rallies, as he reportedly seeks to avoid a potential investigation should the NPP come to power. The NPP has indicated that it would launch a full investigation into the sugar scam and related tax evasion schemes if it wins the presidency.
Mawzoon’s influence extends beyond his involvement in the sugar industry. Recently appointed as a director of a major hotel chain, he is also deeply entrenched in the plantation sector and other business ventures, including the import and manufacture of household goods and food products. Critics argue that his business dealings have largely thrived due to questionable tax practices.
The scandal has caught the attention of the International Monetary Fund (IMF), which is reportedly investigating the case. This comes amid concerns that Sri Lanka has lost more in tax revenue to scams than it has received in aid, with the IMF’s $2.1 billion relief package overshadowed by tax evasion schemes like the infamous BMW car import scam, which cost the country nearly $2 billion.
As pressure mounts for Sri Lanka to recover these funds, questions are being raised about whether political campaigns are being bankrolled by ill-gotten gains. The controversy surrounding Mawzoon and his alleged ties to the SJB campaign have cast a shadow over the upcoming election, highlighting the urgent need for transparency and accountability in both politics and business.
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by (2024-08-23 20:30:42)
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