The United National Party is to ask for the setting up of a Parliamentary Select Committee to investigate the role of the Monetary Board and the Central Bank in the recent collapse of financial institutions, resulting in the public losing their savings to the tune of several millions of rupees.
Sources close to the UNP hierarchy told The Sunday Times that the move was aimed at probing whether the Monetary Board and the Central Bank paid due diligence to the activities of these financial institutions and whether they protected the public adequately.
These sources said they would ask Parliament to go into what these two State financial supervision bodies did in the wake of crashes that range from the infamous Sakvithi scam to the most recent collapse of the Golden Key Credit Card Company.
The party has already introduced a no-confidence motion against the Government into Parliament's Order Book over the oil hedging deal engaged in by the Ceylon Petroleum Corporation. This motion is likely to be taken up in Parliament as soon as sittings begin for the New Year on January 6. The party is asking for an immediate debate on this, Chief Opposition Whip Joseph Michael Perera said.
Chief Government Whip and Minister Dinesh Gunawardena said party leaders would decide on the matter on January 2.The JVP said it was still undecided on whether to support the no-faith motion.