Presidential Commission of Inquiry recommences: CBSL fails to provide required information

Presidential Commission of Inquiry recommences: CBSL fails to provide required information

Written by Keshala Dias

05 Jun, 2017 | 11:27 pm

Deputy Minister Dr. Harsha de Silva said the Central Bank of Sri Lanka failed to provide the Committee of Public Enterprises with required information on secondary market operations.

The Presidential Commission of Inquiry convened again, today, after a two week recess.

Dr. Harsha de Silva testified that the footnotes were added to the COPE report to qualify the concerns that were raised during the COPE inquiry.

He noted that the footnotes were collective observations of nine COPE members who had concerns.

Nine members of COPE had agreed to the report of the Committee in general with the foot notes, while fifteen members agreed to the Report of the Committee in general without the footnotes.

He went on to say that the footnotes were prepared by the members raising individual concerns and they were included in the report in an orderly manner by him and the chair of COPE Sunil Handunnetti in the presence the Auditor General.

The Deputy Minister confirmed to the Commission that during the COPE inquiry, he made a statement that Arjun Aloysius from Perpetual Treasuries Limited already had several allegations in relation to the stock market before Arjuna Mahendran was appointed as Governor.

He confirmed that, he made a statement citing that Arjun Aloysius had inside information when it came to bond transactions.

Dr. Harsha de Silva said that after the auction on February 27, 2015, he received a call from a Primary Dealer, namely First Capital Treasuries PLC citing that some impropriety was going on in the auction.

He had raised the matter with then Governor Arjuna Mahendran twice on the same day, to which Mahendran had responded that various persons can say various things.

The Additional Director of IT at the Central Bank, Wasantha Alwis provided evidence once again, today, in relation to primary and secondary market transactions.

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