The three-member committee appointed by Prime Minister Ranil Wickremesinghe to probe into the controversy that has emerged over the issuance of Treasury Bonds has said that the Central Bank Governor Arjuna Mahendran had no direct role in deciding to accept bids over and above the one billion rupees stipulated in the 30-year bond tender and accept up to 10 billion rupees.
The Committee concluded that there was no evidence to the effect that the governor had direct participation with regard to the activities of the PDD and the Tender Board Committee.
The three-member Committee that looked into the 30-year bond issue consisted; Gamini Pitipana (Attorney-At-Law) – Chairman, Mahesh Kalugampitiya (Attorney-At-Law) – Committee Member, Chandimal Mendis (Attorney-At-Law) – Committee Member.
The first page of the report said, “The Prime Minister who is the Minister of Policy Planning made available the service of Mr. W.A Wijewardena the former Deputy Governor of the CBSL. Mr W. A Wijewardena assisted the committee in technical aspects.”
When asked for a comment, Dr. Wijewardena said: “My role was to help the Committee understand technical matters.”
“I am not responsible for the findings of the Committee which are theirs.” Dr Wijewardena told Colombo Telegraph.
To read the full report click here
Analyst / May 20, 2015
On a different note what’s the cover up on the story of kidnapped Srilankan in Nigeria yesterday his outpost security was killed at the shoot out.?? . All hushed up or some international involvement.?
Don Stanley / May 21, 2015
Is Wijewardena playing a double game then?!
The President, Sirisena, MUST intervene and ask Mahendran to RESIGN so that a full investigation into his RENT SEEKING AND INSIDER TRADING is complete.
Fact is that Mahendran was involved in INSIDER TRADING AND RENT SEEKING at the expense of the people and economy of Sri Lanka during the bond issue and you do not need to be a rocket scientist to know this. Mahendran is a corrupt clown and gave privileged info. to corrupt son-in-law – hence the unusual bidding pattern of his firm.
This CB fiasco is dragging down the economy of the Sri Lanka and it is clear that both the Bank of Ceylon and its corrupt Manager who is a Rajapaksa stooge also must be investigated.
Finally, Ajith Nivard Cabral, Mahinda Jarapassa’s former CEO at the Central Bank is another corrupt clown and BOTH he and Mahendran need to be investigated and put behind bars for RENT SEEKING and INSIDER TRADING in currencies and EPF funds fraud.
Analyst / May 21, 2015
Asking Mahendran to resign now will create a big financial payout. He was head hunted for the job.
So now you have it massive payout or keep him on the job . You decide.
Hiring and firing in the international Arena is not as easy as you think.
Aussi man / May 21, 2015
No double game, Dr Wije is a free market man, so-called socialist Uvindu Kurukulasuriya’s best teacher! His fourth year teacher who taught him Development Economics. Any comment Mr Uvindu?
I know Uvindu is a Ranil’s man, now it is clear Dr Wije is also a Ranil’s man!
K.A Sumanasekera / May 21, 2015
Is this Wijewardana a relative of Ranil’s nephew and our Defence Sec who says there were no LTTE Flags in Mulivaikal or anywhere else..
This statement of course came after the TNA run NPC citizens attacked the Jaffna High Court yesterday.
Ranil can’t get anything right nowadays …Right….
Analyst / May 21, 2015
You can keep on rubbishing someone else and keep on white washing the real crooks. The Singhalayas the Tamilians and the Muslims are much more brighter than you K.A.. S.
It used to work n the old regime with the help of the propaganda machines and the white vans now there is freedom of expression. For all Srilankans.
They can use their heads without your trumpet.
Real Peace / May 21, 2015
You have got to go. By holding on to the job you are only making the life of Ranil W difficult. Don’t be selfish and greedy, please go.
paul / May 21, 2015
This Wijewardana bloke, t[eduted out]. To get this man to provide “technical advice” to the Investigating team, which itself consisted of Ranil’s Sirikotha mates and hence a joke, is one of the biggest Yaha..ya comical acts so far.
Srinath Gunaratne / May 21, 2015
Ranil, You made a big error of judgement, This is the Ranilgate of sri lanka?
Appointed thief, to cover up the theft, appointed his mates!
This is going to blow out of proportiom.
Any fool can see what happened! People who try to defend this, the lot who attacked Mahinda, are you really wearing clothes? Tell your leader to come clean
CT keep it up, I once thought you are just a side arm of NGO maffia!
You are doing a great job and expose the wrong doing of anyone who does wrong!
Gamarala / May 21, 2015
UNP leader takes responsibility in the Cabinet to the appointment of CB Governor. He then appoints three UNP Lawyers to investigate that same Governor and appoint a former Deputy Governor TO ADVISE the Lawyers on technical matters.
Why couldn’t RW appoint INDEPENDENT lawyers and former CB Governors with impeccable reputation to investigate this issue. Is it because such people will not be `controlled’ by the UNP.
Further Dep Gov Wijewardena has distanced himself from the report by stating he is not responsible for the report.
Looks like RW thinks that Sri Lankan voters are fools and can be taken for a big ride.
Harry Hatton / May 21, 2015
The Analyst says mahendran was ‘headhunted” ! The head hunter cannot be very good if the best he could find in the whole wide world was Arjun Mahendran ! Funny how the head hunter found a man who is a family friend of Ranil !What is this head hunting Company ? Where is their contract the the government of Sri Lanka ? Where is their contract with job applicant Mahendran ?
Dont talk nonsense! I have no regard for Ranil after the way he handled the whole thing. He is just a mediocre and arrogant hypocrit and a tragedy for this country and the UNP!
Dr Laksiri Fernando / May 21, 2015
It is appalling that Arjun Mahendran is still the Central Bank Governor. His appointment itself was irregular based on favoritism. Ranil Wickremasinghe should be ashamed of this appointment. At least after the revelation of the Bond scam, Mahendran should have been removed. The Central Bank is such an important institution in the country’s financial and economic system. The conflict of interest is very clear between Mahendran and his son-in-law and without Governor’s knowledge, the deal could not have taken place whatever the so-called Committee says. The Committee itself is a scam. What is the point in having a Governor, if he cannot take the responsibility? If he says that somebody else is responsible, he should have already taken measures against them. If he is a professional, with at least a modicum of integrity, he should have packed his bags and gone back to Singapore or elsewhere.
Even the President should not keep quiet on this matter. It is clear that Ranil, the PM, as the responsible Minister is wishy-washy on the whole matter. It is high time that the President intervenes and take some firm action. Otherwise, his credibility will also be questionable.
Dr Laksiri Fernando / May 21, 2015
What a Mockery?
I have just started reading the Report of the “Committee to look into the Bond Issue.” Alas! The Committee does not know how to read the financial figures properly! The following is what appears on page 2. Read what is stated in brackets.
“The cash flow and borrowing requirement for the month of March has been annexed to the said letter. In terms of the said annexure the borrowing requirement as at 02/03/2015 was Rs. 13,550,000,000/- (Rs Thirteen point five hundred and fifty billion).”
paul / May 22, 2015
“Rs. 13,550,000,000/- (Rs Thirteen point five hundred and fifty billion).”
These crooks are hoodwinking the poor voters in Sri Lanka. If this is the best talent they can come up with to investigate a fraud of this magnitude, then we have no future.
Sashi / May 21, 2015
You can be fired without compensation if you have been found to guilty of fraud
Analyst / May 21, 2015
Firstly he had to be found guilty by credible justice system then Fire him by all means. Please do not put the Horse before the Cart.
By fair and square find him guilty , just because nobody likes his colour he should be dragged along the street of Colombo.?
Banana Republic Law are we talking about? Shame on you people, let the Justice system speak and pass the judgement and not by the arm chair critics to sack him.
Are we still in the dark ages of ” The Kingdom of the Devil RAJ and his hench men era?
Are we not civilised yet??
Pot Shot / May 21, 2015
Cant Arujuna M and RW be both summoned by the FCID? I think they should as this is a financial crime committed by one party and is being covered up another party. The covering party is none other than the PM who must set an example.
Pot Shot / May 22, 2015
If RW is to lose the no confidence motion It is utterly inconceivable that he is putting the entire country in danger for one Mr. Arujuna Mahendran who is without doubt guilty of the offence. It is time that RW listens to public opinion and sentiments something MR arrogantly didn’t heed to and faced the consequences on the 8th of Jan 2015.
Emil / May 23, 2015
When Maithrie was put forward as the common candidate, he was an unknown quantity to me, a necessary face for Ranil who seemingly could not win the “popular vote” despite being the man of character. In a short but eventful 4+ months Maithrie has proved himself to be a man of his word, while Ranil appears to blissfully ignore the basic sentiment of us all who voted for change, the desire for a transparent, accountable government that makesno room for the corrupt and at its utsmost harmless description, a blatant disregard for the “appearance of transparency and integrity” in people holding jobs such as the central bank Governor!!!
Does Mahendran so desparately need this job that he cannot resign???!!!
yASIN / May 23, 2015
This is getting worse by the day. The Jan 8 election were to elect the president
therefore it was a presidential election and not parliamentary election.
RW is a non PM since he forced himself onto the chair virtually pushing down the sitting PM.
When we in Sri Lanka have an abundance of expertise to run the central bank why did RW go for someone who is a non national.
I am not a banker nor an expert on money matters still had I been in RW’s shoes I would have done a far better job.
RW is greedy and ambitious and is not PM or even minister material. It is indeed sad that this man is leading a respectable party (UNP) blindfolded.
It is my sincere opinion that Ranil Wickremesinghe must be shown the exit
and the CB governor suspended and placed under house arrest until a thorough and impartial investigation is carried out by a team of SRI LANKAN finance
experts as urgently as possible