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Treasury Bond probe report out, but contents a secret
View(s):The committee probing the controversial February 27 Treasury bond issue on Thursday handed over its report to Prime Minister Ranil Wickremesinghe but its contents are yet to be made public.
Members of the committee have been tight-lipped, as in the past, in disclosing contents of the report or discussing its work in the past few weeks.
Deputy Economic Planning Minister Harsha de Silva said he hasn’t seen the report which is expected to be submitted to Parliament shortly.
Appointed by the Prime Minister last month, the committee comprising Gamini Pitipana (Chairman), Chaminda Mendis and Mahesh Kalugampitiya were tasked to examine whether there was anything unusual in the 30-year bond deal, the bidding patterns for this transaction and before that, and the secondary market interest rates and its processes.
The deal drew suspicions of insider trading after the Central Bank accepted 10 times more than the advertised amount and at higher interest rates. Central Bank Governor Arjuna Mahendran took leave after revelations that his son-in-law’s family firm, Perpetual Treasuries Ltd, had benefitted most from the transaction.
The composition of the committee was also criticised by opposition politicians saying the members are UNP-affiliated lawyers and their findings would be biased.
Meanwhile the fundamental rights petition in the Supreme Court filed by three good governance activists urging an independent inquiry into the bond issue is to be taken up for inquiry on April 28 and May 5.