The operations of the janayugaya newspaper, owned by Perpetual Treasuries owner Arjuna Aloysius, has come to a halt, Asian Mirror reliably learns.
The daily Janayugaya newspaper has not come to news stands since last Thursday.
When contacted by Asian Mirror, a source close to the newspaper said the non-availability of the paper was mainly due to a union action by press workers. They said the newspaper company had not been closed down.
"When the internal problems are sorted, the paper will come back to the market," the source said. However, he said now was aware when the paper would resume its operations.
It is learnt that the paper has run into serious financial difficulties due to ongoing investigations into the Treasury bonds fiasco. As a result, the employees had not received their regular monthly payments on time over the past few months.
As the financial transactions of Aloysius and the companies owned by him came under scrutiny, the management found it hard to pump money into the newspaper operations. Therefore, Asian Mirror learns, the continuation of the company still hangs in the balance.
The Central Bank too has frozen Rs. 12 billion in the bank accounts of Perpetual Treasuries.
Sources : asianmirror
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