29 November, 2020

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Three-Member Committee Appointed To Probe Into Central Bank Bonds Controversy

Three member committee appointed to probe into Treasury bonds issue

Ranil Wickremesinghe

Ranil Wickremesinghe

A Three-member committee has been appointed by Prime Minister Ranil Wickremesinghe to probe into the controversy that has emerged over the issuance of Treasury Bonds.

A statement released by the Prime Minister’s office today states the decision was made yesterday following a discussion between the President and himself.

Accordingly, Gamini Pitipana has been appointed as the committee Chairman while Mahesh Kalugampitiya and Chandimal Mendis have been appointed as the two other members of the committee. They have been mandated with investigating into the allegations and submitting a report including their findings, immediately. The media release further states that the conclusions of the committee report would decide the next course of action to be taken with concern to the treasury bonds issue.

This committee was appointed following criticisms and concerns raised by many parties and media reports that emerged concerning the blatant abuse of power by the Central Bank governor Arjuna Mahendran to favour his son-in-law with concern to the issuing of treasury bonds that opened on February 27 through which a sum of Rs. 1 billion had been offered. The allegation was that although the rates of the bonds were expected to be in the range of 9.5%, it had been escalated up to 12.5 % under the instructions of Mahendran. Media reports claim his son-in-law was fully aware of this step and as a result, managed to gain a massive profit by bidding at the renewed rates.

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Latest comments

  • 7
    1

    Ranil has appointed the best two guys to give financial stability.

    Ravi who is indicted by th High Court for forex charges as FM and Arjun as Governor to manipulate the bond market

    Yahapalanaya at its best!!!

    • 3
      0

      Firstly, this Committee should have been appointed by MS and not Ranil (who has a conflict of interest).

      Secondly, Ranil’s proposed committee of 3 UNP crony lawyers is farcical and should be discarded pronto.

      For a meaningful inquiry, this committee should comprise of a money market professional, a senior Central bank official (perhaps retired and who has knowledge of how the system operates) a senior police officer with relevant investigative skills and an Auditor from a reputed Accounting firm.

      The synergies of these professionals would give a credible result, and not the exculpation Ranil wants from his 3 cronies.

      Judging not only from Ranil’s proposed committee, but also considering the tenor of the inane comments made by Ravi and Harsha everything clearly points to a shameless cover-up.

      Let the axe fall where it should irrespective of politics and personalities. That’s yaha palanaya.

    • 0
      0

      Talking about the bond issue with the Daily Mirron on 13th instant, Dr. Harsha Deputy Minister and MP says that he told PM that “… even though it is not something that impacts the masses and it is a Colombo-centered issue, there are people who are trying to make life difficult for this government.” Meaning the ‘corruption’ that does not impact masses are not serious. What an analogy for good and bad corruption?

  • 4
    0

    The President should act fast to get rid of this cancer totally. The PM should admit making the wrong decision of appointing a foreigner as the Governor and Ravi K as Finance Minister when he is facing Forex violation charges in the High Court.

  • 4
    0

    I think that the President should throw out Mahendran, ask Harsha de Silva to resign and take immediate action to charge and if found guilty, throw the whole lot in jail

  • 7
    0

    There is no smoke without a fire

    Bloody right royal shame. I hope a thorough investigation is held. As the JVP says its only correct that the CB governor relinquishes his post until inquiry is concluded

  • 3
    0

    Ranil should not think that he is always right. He is wrong in appointing Mahendren. He is manipulating the system. We should not forget that Mahindas down fall was mainly due to the people he appointed as heads of institutions like Hirimburegamas. Ranil is making the same mistake even at theis initial stages. Mahendren and his in-laws can make their buck within 100 days and vanish.

  • 0
    0

    Showing true colour within 50 days. We never heard anything like from Cabraal

  • 2
    0

    Young people of SRI LANKA NOT DUMB AND STUPID. The politicians like Ranil think that they are. SAME IN THE USA . WHEN THE TIME COMES PEOPLE KNOW HOW TO USE THEIR VOTE . RANIL WILL HAVE A SCHOCK OF HIS LIFE WHEN THE YOUNG PEOPLE DEVIATE FROM UNP AND VOTE FOR JVP DURING GTHE NEXT ELECTIONS. HE TRIED HIS BEST TO HIDE WITHIN THE NATIONAL GOVT BUT FAILED.

    WE SRI LANKANS ARE VERY SMART PEOPLE . 3 MEMBER COMMISSION IS A JOKE ALL 3 ARE HIS BUDDIES ?

  • 1
    0

    Politicians like Ranil thinks People are stupid. I am a US Citizen .LOVE THE COUNTRY OF MY BIRTH . YOUNG PEOPLE OF SRI LANKA WILL DEVIATE FROM BOTH MAJOR PARTIES IN SL AND MOVE TOWARDS JVP SO THE CROOKS CAN BE CHARGED. I AM SURE THIS WILL TAKE PLACE DURING THE NEXT ELECTIONS .

    THOSE WHO HAVE TAKEN MONEY OUT OF OUR COUNTRY ILLEGALLY AND HAVE INVESTED OVERSEAS NEED TO BE CHARGED AND SHOULD BE KEPT BEHIND BARS. IF THIS NEW GOVT CANT DO WHAT THEY PROMISED BEFORE THE LAST PRESIDENTIAL ELECTIONS PLEASE ELECT PEOPLE WHO ARE WILLING TO DO THAT .

    MAY GOD BLESS SRI LANKA

  • 1
    0

    Curse on both houses The UNP and the SLFP, under any other name.Since 1977, both these parties had led this country to ruin and robbed the citizen. Curse on the two legged grass eathers for tolerating this nonsense. Curse on the PIRITH NOOLE BRIGADE for annointing these jokers.Let get rid of the PIRITH NOOLE brigade first.

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