Home / Front Page/ CB Governor to appear before Treasury bond Commission of Inquiry on Tuesday

CB Governor to appear before Treasury bond Commission of Inquiry on Tuesday


Comments / {{hitsCtrl.values.hits}} Views / Friday, 17 February 2017 00:00


Governor of the Central Bank, Dr. Indrajit Coomaraswamy, has been directed to appear on Tuesday before the Commission of Inquiry (COI) appointed to look into irregularities in respect to the issuance of Treasury bonds, including the controversial Central Bank bond issue of February 2015.

Secretary to the Commission, Sumathipala Udugamasuriya, has written to Dr. Coomaraswamy asking him to appear before the COI at 10.30 a.m. at its office located at Adhikarana Mawatha at Hultsdorf, Colombo 12.

Senior Additional Solicitor General Dappula de Livera, PC, who heads the nine-member team from the Attorney General’s Department appointed to assist the commission along with Additional Solicitor General Yasantha Kodagoda PC, will present evidence during Tuesday’s sittings, informed sources said.

The initial inquires by the COI will be about the role the CB plays in the issue of government bonds  as well as the criteria pertaining to the selection of primary dealers and other related matters, they said.

It will be the first meeting of the three-member commission appointed by President Maithripala Sirisena in January to investigate and inquire into and report on the issuance of Treasury Bonds during the period from 1 February 2015 to 31 March 2016. Its members are Supreme Court Justices K.T. Chitrasiri and Prasanna Sujeewa Jayawardana and retired Deputy Auditor General Kandasamy Veluppillai.

Meanwhile, the COI has given time until 28 February for members of the public to send in written representations, complaints, statements or information relating to any irregularity in the issuance of Treasury bonds between 1 February 2015 and 31 March 2016.

The COI has notified that “every person who gives evidence before the Commission shall be entitled to the privileges of witnesses and special immunity as provided for in the Commission of Inquiry Act.

Among the matters the COI will inquire will be the management, administration and conduct of affairs of the Central Bank of Sri Lanka (CBSL) in respect to the bond issuance during this period and whether there has been any malpractice, irregularity or non-compliance with or disregard of the proper procedures applicable to this.

The commission has been given three months to hand over its report.


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Evergreen memories of actor-politician Vijaya Kumaratunga

Saturday, 17 February 2018

Popular film actor-politician Vijaya Kumaratunga was shot dead in cold blood on 16 February 1988. He was standing near the front gate of his Kirulapone residence on Polhengoda road and talking to an acquaintance when the assailants travelling in a tw


Asma Jahangir fought for human rights across borders

Saturday, 17 February 2018

When Asma Jahangir, the Pakistani human rights campaigner who single handedly took on the civil, military, and religious establishment in her country, died in Lahore on 11 February, she had spent 48 of her 66 years in the war against injustice.


Coalition crack-up: UNP putsch, SLFP rebellion

Friday, 16 February 2018

What were the reasons for the governmental crisis? The UNP arrogantly attempted a political putsch. Having promised


Lessons for Govt. from recent LG Elections

Friday, 16 February 2018

The impact of the Local Government elections on the political system has been unbelievable and decisive. According to newspapers


Columnists More