New Governor at Central Bank?

There will be a new governor for the Central Bank by the time this paper goes to press, Deputy Minister for State Enterprise Development Eran Wickramaratne told the Business Observer when asked about the stance of the government with regard to the appointment of a new governor.

Wickramaratne said a decision would have been made on the appointment of a new governor by President Maithripala Sirisena on the advice of the Finance Minister. “Being a united government it is vital that the appointment to the institution held in esteem by all be widely accepted.

It goes without saying that the person to head the prestigious institution in the country should be a person of integrity; ideally an economist with experience,” he said.

The Committee on Public Enterprises (COPE) had not conducted a proper investigation on the issue of the former central bank governor.

The COPE investigation was in progress during the former parliament which was dissolved.

COPE has recommended investigation into the bond transaction of Perpetual Treasuries and the attendant processes related to the transaction. Parliament expects a report in this regard within the next couple of months.

With regard to division in the COPE on this issue he said in any investigation needs to look at all sides of an argument and as in any investigation the conclusions do not necessarily have to be unanimous.

The tenure of Arjuna Mahendran ended June 30 leaving many questions unanswered on the alleged bond transaction involving his son-in-law.