Frantic calls for dissolution to scuttle findings

Top-ranking members of the Government are alleyedly implicated in wrongdoing associated with the controversial Central Bank bond issue, The Nation learns.  Central Bank sources who wished to remain anonymous claim that the process which resulted in a company owned by the son-in-law of Central Bank Governor Arjuna Mahendran securing unprecedented profits almost overnight was endorsed by the said high-ups in the Government as well as key officials of the United National Party (UNP).

The Committee on Public Enterprises (COPE) launched its own investigation into the matter and its report is due to be released early next week, The Nation learns.  The report, according to sources, includes damning evidence presented by Central Bank officials, facts that could seriously undermine the Government headed by Prime Minister Ranil Wickremesinghe

The controversial bond issue forced Wickremesinghe to appoint a committee to investigate the process.  The committee, although constituted of party loyalists, did not completely absolve the Governor of wrongdoing, maintaining only that he was not ‘directly’ involved.  The committee, however, observing suspicious behavior by Perpetual Treasuries, an entity controlled by Arjun Aloysius, the said son-in-law, urged further investigation, including the decisions made by Bank of Ceylon in this transaction.

According to sources close to President Maithripala Sirisena, the recent and urgent call for dissolution from the UNP has nothing to do with ‘ungovernability due to no-confidence motions tabled by the Opposition’ or the completion of 100 days, the time that the Sirisena-Wickremesinghe Government set itself to institute reform.  It is rather ‘a desperate attempt to ensure that the damning COPE report never sees the light of day,’ sources said.