Sri Lanka fills monetary board vacancy

July 13, 2006 (LBO) – Upali Group chairman Nimal Welgama, has been appointed to the Monetary Board, the Central Bank of Sri Lanka said Thursday. Welgama has been appointed by the President with effect from July 3.

His term of office will be for the remaining period of office of P D Rodrigo, appointed member of the Monetary Board who resigned from the Board with effect from February 15, 2006, Central Bank said.

Accordingly Welgama’s term of office as the appointed member of the Monetary Board will expire on May 7, 2009.

With his appointment, the five member Monetary Board now consists of the Governor of the Central Bank, Ajith Nivard Cabraal, as Chairman of the Monetary Board, the Secretary to the Treasury, P B Jayasundara as official member and Chandi Chanmugam, Tilak de Zoysa and Nimal Welgama as appointed members.

The Upali Group publishes the Island and Divaina newspapers and also owns a top confectionary brand. .