Presidential Commission members to observe Treasury Bond auction at CBSL

Presidential Commission members to observe Treasury Bond auction at CBSL

Presidential Commission members to observe Treasury Bond auction at CBSL

Written by Keshala Dias

28 Feb, 2017 | 9:09 pm

Members of the Presidential Commission of Inquiry to Investigate and Inquire into the Issuance of Treasury
Bonds have decide to make a site visit to observe the treasury bond auction which is scheduled for March 1, at the Central Bank of Sri Lanka.

Dr. M. Z. M Aazim who served as the Additional Superintendent of the Public Debt Department during the time period of the impugned treasury bond auction provided evidence before the Presidential Commission of Inquiry to Investigate and Inquire into the Issuance of Treasury Bonds on February 28.

Dr. M. Z. M Aazim currently serves as the Additional Director of the Statistics Department of the Central Bank of Sri Lanka.

Speaking before the Commission, Dr. Aazim said that on the day before the 27th of February 2015 bond auction, the Central Bank’s Domestic Debt Management Committee had convened.

He added, on the morning of the February 24,  2015 the Monetary Board had made a request to issue the bonds for a thirty year maturity period adding that the Monetary Board requested for the auction to take place on that very week itself.

Thereafter, the Commission decided to move time to lead evidence, as documents pertaining to the matter only arrived on February 28, and proceedings were re-scheduled for March 02, since the Commission had decided to make a site visit to the Public Debt Department on March 01.

Dr. H. S. Samaratunga, the Secretary to the Ministry of Finance, providing evidence before the Commission said the Press Statement issued by the Ministry of Finance relating to the impugned gazette has been sent by the media secretary to the finance minister.

Responding to a question raised by Additional Solicitor General Yasantha Kodagoda, Dr. Samaratunga said he had no doubt on the validity and legality of the treasury bonds issued by the government.

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