Sri Lanka’s deputy minister Harsha De Silva responds to controversial bond issue

Mar 12, 2015 (LBO) – Sri Lanka’s Deputy Minister of Policy and Finance, Harsha De Silva commenting on social media said the committee appointed to probe into the recent bond allegations has been given wide range of power and technical support to look into the issue.

There has been rising concerns in bond markets over controversial deals made recently by Perpetual Treasuries, a firm connected to Arjun Aloysius, the son-in-law of Governor Arjuna Mahendran.

“I have been inundated with questions as to what we are doing about the allegations of insider dealing with respect to the bond issue on 27 February 2015,” De Silva commented on Facebook.

“These questions seem to be directed at me particularly because I was very vociferous on such matters as an opposition MP and because I am the deputy minister for Policy Planning and Economic Affairs,”

“This is to inform the general public that in consultation with the President, the Prime Minister has appointed a 3-member independent committee of lawyers to investigate in to the said allegation.”

“The committee has been given wide ranging powers to obtain information from any and all relevant parties going back to 1 January 2012. Necessary technical support to analyze complex financial market transactions has also been provided. The committee has already started work,”

He also said, that as the new president was elected to honor good governance, the process will apply to all those in past and current regime.

“Good governance is about due process. It should apply to all concerned, be it those in the previous government or the current one.”

“As a government that was elected to office to follow good governance we have set in motion the said investigation in good faith. Let us wait for the findings of the committee to determine what course of action needs to be taken if any person or persons were to be found guilty to committing an offence,”