-By Wimal Weerasekera
(Lanka-e-News -01.July.2016, 5.45PM) For the first time in the history of Sri Lanka (SL) , the country is going to be without a governor of the Central Bank today.The official term of the present governor Arjun Mahendran who is drowning in corruption charges ends yesterday (30) , and he had not been given an extension. Until today, neither a new governor nor an acting Governor was appointed. Hence, today SL will be without an official Central Bank Governor.
The stock exchange market is likely to crash owing to this state of affairs. In a country where there is no Central Bank Governor , except the insane no foreign investor will think of coming in. Such a situation only spells doom and gloom for the country.
Though the president and P.M. were to have discussions with the high officials of the Central Bank day before yesterday (29) , to arrive at a decision , because of the dogmatic propensities and approach of the P.M. , nothing fruitful could be achieved , Lanka e news reported yesterday.
last evening , P.M. Ranil Wickremesinghe had proposed to the president that if his bosom pal Bond Mahendran’s term is not going to be extended , to appoint another intimate friend of Ranil as the Central Bank Governor , based on reports received from Lanka e news inside information division within Temple Trees. Though the president has forwarded three names , the P.M. has only sent one name , and that is of Charitha Ratwatte. The latter is of course a ‘Royal’ pal of the P.M. but sadly , he knows absolutely nothing when it comes to economics , banking and financial affairs or international financial affairs.
During the period of the Rajapakse regime , the political appointee to the post of Central Bank Governor was Ajith Nivard Cabraal . Those responsible and who have learnt lessons following the appointment of Cabraal , and his successor Bond Mahendran - another political appointee , are now insisting , this time the one holding the next most senior position in the Central Bank shall be appointed as the Governor.
The leaders of the civil organizations and trade unions who contributed towards the election of the good governance government have informed the P.M. last evening that they are bitterly opposed to having Arjun Mahendran as the Central Bank Governor any more.
The three most senior officers of the Central Bank are already functioning as deputy Governors , and among them it is Dr. Nandalal Weerasinghe who is the most senior having been in the Central Bank service for over 25 years. The other two are P.Samarasiri and S. Lankathileke who are also deputy Governors.
None of these deputy governors are suitable according to Ranil. It is either Bond Mahendran who is like a god to him or another bosom pal of his the ‘Royal’ friend , who is suitable in his view. May be , Ranil is of the opinion that removing Bond Mahendran is a loss of prestige to him, otherwise until this evening he would not be waiting to propose Charitha Ratwatte ,if Mahendran is not the choice.
It is only Ranil Wickremesinghe and those of his ‘Royal’ gang who do not acknowledge the fact , since Arjun Mahendran helped his son in law in the Treasury bond issue that the country suffered a loss of Rs. 6 billion.
It is significant to note ,the SLFP an alliance of the government of good governance including the president who is the leader are opposed to Bond Mahendran ; the Civil organizations and the Trade union organizations that contributed immensely to elect the good governance government are opposed; and the JVP too that campaigned from a separate platform to oust the Rajapakses too are opposed. The TNA too has not agreed in favor of Mahendran though they have not openly aired their views. Even within the UNP , except those of the ‘Royal group’ , a great majority are opposed to Mahendran. Not only Lanka e news, Ravaya and all other media that stand by alternative views, as well as the media in general are opposed to Bond Mahendran. The pro Rajapakse SLFP group is opposed and the staff of Central Bank too do not say ‘aney , Mahendran was the best governor we ever had.’ Above all , the people too do not say this Central bank Governor who axed the people ruthlessly with taxes is indispensable.
Apparently, to the P.M. all these resentment and opposition are of no consequence. He stubbornly stands by his ‘Royal’ pal. Like how he persistently said in the past , ‘ no matter who says what , I am the leader of the UNP,’ may be Ranil is still obstinate like a Mule. At least he must realize now though the UNP may be his party , the Central bank is not the bank of the UNP, neither is this his personal issue , rather it is a vital issue concerning the whole nation.
Unfortunately, Ranil has in this instance conveniently forgotten the Western Democracy which is his favorite topic of conversation. Instead of his ‘Lichchavi’ traditions he is preferring haughty traditions, and he is again resorting to the same dilatory tactics of entrusting the task of resolving issues to Committees . Now , by entrusting the Audit report to the COPE committee he is taking refuge in procrastination again.
It is not the COPE committee that should probe this Bond Mahendran’s fraud, rather it should be by the FCID , and the case should be heard in a court. The audit report comprises 1215 pages, and hence the COPE committee will require a long time to study that. Therefore , there is no doubt this time ‘Ranil’s committee bullock’ is going to be sold unhesitatingly by the people as worthless stuff.
Let us make one thing abundantly clear to P.M. Ranil Wickremesinghe : The masses for good governance will not definitely approve of or agree with his safeguarding the corrupt bosom pal whom he is trying to protect like his life. Besides , they will not want a P.M. who does not heed people’s wishes , and conducts himself arrogantly.
At this rate , if the people who are today clamoring in unison ‘we don’t want the corrupt,’ clamor tomorrow in unison, ‘we don’t want the corrupt as well as the P.M. who is protecting them.’ It will only be the ‘Royal’ gang that will remain to rescue Ranil.
Translated by Jeff
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by (2016-07-01 12:30:09)
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Why don't you suggest Wimal Weerawansa as the next Governor of the Central Bank. The most eligible.
-- by David on 2016-07-01
