Presidential Commission on Bonds extended further by 3 months

Bonds

July 25, 2017 (LBO) – Sri Lanka’s President has extended the time period of the Presidential Commission of inquiry to investigate and inquire into the issuance of treasury bonds.

The relevant gazette notification said in terms of section 4 of the Commission of Inquiry Act (Chapter 393), President has further enlarged the time by three months from 27th July, 2017 up to 27th October, 2017.

The commission was appointed to investigate, inquire into and report on the issuance of Treasury Bonds during the period 01st February, 2015 to 31st March, 2016.

President Maithripala Sirisena appointed the commission in late January this year and extended the time period by three months in April.

The said bond carried accusations of insider trading which related to the bids of Perpetual Treasuries, a firm connected to the son-in-law of the then Governor of the Central Bank.

Meanwhile, former Finance Minister Ravi Karunanayake has been re-summoned to the commission Wednesday amid serious revelations about him during the investigations.