Ranjith quits BOI Board

Wednesday, 14 September 2016 00:15 - - {{hitsCtrl.values.hits}}

Business leader Ranjith Pandithage has resigned from the Board of Directors of the Board of Investment (BOI).

He has given notice effective from 1 November 2016. There was speculation that the move by Pandithage, who is the Chairman of DIMO Plc, was because he was not overly happy with performance and direction of the BOI. However, when contacted, Pandithage said he was stepping down to avoid possible conflict of interest since DIMO would be undertaking some large-scale projects requiring BOI approval. Furthermore, given the ongoing expansion, DIMO also demands more of his time as Chairman.

Hence since he could not fully dedicate his time to the BOI, he thought it would be better to pass the opportunity to someone else.

He was appointed about eight months ago by President Maithripala Sirisena on the recommendation of Prime Minister Ranil Wickremesinghe and Development Strategies and International Trade Minister Malik Samarawickrama.

The BOI Board comprises Dr. Upul Jayasuriya PC (Chairman), Buddhi Athauda, Manoj Cooray, Neeth Udisha and Ranjith Pandithage.

With the Agency for Development taking shape, it will oversee the BOI and the EDB.