Prime Minister Ranil Wickremesinghe has been accused of violating the provisions of 7 pieces of Legislation, all financial Laws, in the ‘No-Confidence’ Motion (NCM) against him, to be taken up for debate on Wednesday (4). The debate will begin at 10 a.m. and continue till 9.30 p.m., after which it will be put to a [...]

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No-faith motion accuses PM of violating 7 pieces of legislation

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Prime Minister Ranil Wickremesinghe has been accused of violating the provisions of 7 pieces of Legislation, all financial Laws, in the ‘No-Confidence’ Motion (NCM) against him, to be taken up for debate on Wednesday (4).

The debate will begin at 10 a.m. and continue till 9.30 p.m., after which it will be put to a vote. Party leaders have decided to take a voice vote on that day, instead of the the electronic voting system.

The NCM, though directed at the Premier, is also a vote of ‘No Confidence’ on the Government. The NCM states, “This Parliament resolves that it has no confidence in Ranil Wickremesinghe’s ability to function as Prime Minister and as a Minister of the Cabinet, and as well as the Government in which he holds the office of Prime Minister, any longer.”

Most of the charges against Premier Wickremesinghe are related to the Central Bank Bond scam, where he is charged with violating provisos in the Finance Act, Exchange Control Act, Local Treasury Bills Ordinance, Registered Stocks & Securities Ordinance, Financial Reserve Funds Ordinance, Banking Act, Contingency Fund Act, Prevention of Money Laundering Act and the Financial Transactions Reporting Act, by his actions.

The other charges against him include his decision to sever the Central Bank of Sri Lanka from the Ministry of Finance and bring it under himself, with the motive of committing a fraud associated with Treasury Bonds, and proposing a non-citizen Arjun Mahendran, who is shrouded with an infamous track record and a conflict of interests, to the post of Governor of the Central Bank.

The Premier is also accused of appointing a Committee comprising his political cronies to clear the names of those involved in the Bond scam, misleading Parliament by making a special statement on March 17, 2015, to protect the fraudsters and appointing Mr Mahendran as an advisor to his Ministry, even after he became an accused person of the Treasury Bond Fraud.

The Premier is also accused of making way for Mr Mahendran to go abroad and evade appearance in Court by refraining, until after Mr Mahendran left Sri Lanka, from obtaining a court order to prevent him from leaving the country.

The NCM says the Premier created a huge economic crisis by keeping under him the Ministry of Economic Affairs, taking control of the Ministry of Finance through the Economic Management Committee and keeping the Central Bank of Sri Lanka under him, by managing the national economy for the past 3 years, resulting in the retardation of economic growth, collapse of the share market, uncontrollable escalation of rate of inflation, rapid increase of interest rates and withdrawal of investments by foreign investors, thereby putting people into hardship.

One charge against the Premier is related to the recent communal unrest in the Kandy District.
With regard to this, the Premier is accused of tarnishing the image of the country before the international community, by failing to take immediate measures to provide protection to Sinhalese, Tamil and Muslim people during the unrest that occurred in the Kandy District, while holding the portfolio of Minister of Law & Order, resulting in loss of lives and damage to property.
Fifty-one MPs havesigned the NCM.

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