Rule of law now working in Sri Lanka says PM amid pandemonium in parliament

ECONOMYNEXT – The inquiries into a controversial bond auctions by the parliament and presidential commission showed that rule of law was once again working in Sri Lanka but people still find it to be unusual Prime Minister Ranil Wickremesinghe told parliament.

He said an inquiry initiative by him by three lawyers had recommended a further investigation and then the parliaments’ Committee on Public Enterprises had also examined the issue, showing that the assembly had control over the country’s finances.

Wickremesinghe said he had presented the report to the Attorney General and the Central Bank Governor had also frozen 12 billion rupees of assets of Perpetual Treasuries which is alleged to have made illegal profits.

"The rule of law is finally working in this country under the consensual government," he said. "People find this to be strange still."

"It is a victory for the people.

Wickremesinghe said the Presidential commission had recommended a probe into bond sales from 2008 to 2015 which were not transparent.

Out of 5,147 billion rupees of bonds sold during this period 4702 billion were sold through private placements, he said.

"All this was swept under the carpet," Prime Minister Wickremesinghe said as legislators from the government and the joint opposition backing ex-President Mahinda Rajapaksa shouted across the aisles at each other.

"Member Mahinda Rajapaksa who was finance minister at the time should make a statement in parliament," he said as the commotion in the house rose to a crescendo.

Books and papers were thrown in the direction of the prime minister unruly legislators, reports said.





Speaker Karu Jayasuriya suspended parliament as United National Party legislators who came to the well of the house to form a barrier in front the Prime Minister shouted ‘Kawda Hora, Mahinda hora’.

President Maithripala Sirisena is expected to release the bond commission report to parliament. (Colombo/Jan10/2018)

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