Explanation sought over Monetary Board Secy.’s sudden transfer

Rohini calls for social media campaign against govt. move

By Shamindra Ferdinando

 The Samagi Jana Balavegaya (SJB) has sought an explanation from the government over the sudden removal of the Secretary to the Monetary Board of the Central Bank of Sri Lanka, K.M.A.N. Daulagala on16 Sept.

Matale District lawmaker Rohini Kaviratne yesterday (19) questioned the rationale behind Assistant Governor Daulagala’s removal. The former UNP MP emphasised that Daulagala had played a critically important role in the Central Bank’s response in the wake of Treasury bond scams perpetrated in 2015 and 2016. Therefore, her removal was quite suspicious and might facilitate efforts to suppress those scams as well as future frauds as well.

MP Kaviratne represented the UNP during Ranil Wickremesinghe’s tenure as the Prime Minister (2015-2019).

Declaring that Daulagaha had been at the forefront of the efforts to create a clean administration, Kaviratne stressed that she was second only to Rohini Nanayakkara of the Bank of Ceylon (BOC) and earned the respect of all for courageously taking a stand against fraudulent practices.

The SJB spokesperson said that Daulagala, in her capacity as the head of the non-banking sector financial institutions, handled the ETI investigation at the onset (2010-2012) of the probe. In the wake of her recommendations pertaining to the ETI being rejected by the Central Bank, she received a transfer to another section, MP Kaviratne said.

The Monetary Board is responsible for making all policy decisions related to the management, operation and administration of the Central Bank. It comprises Governor Ajith Nivard Cabraal, Finance Secretary S.R. Attygalle, Sanjeeva Jayawardena, PC, Dr (Mrs) Ranee Jaymaha and Samantha Kumarasinghe.

Cabraal, who served as the Governor (2006-2014) recently replaced W.D. Lakshman on President Gotabaya Rajapaksa’s request.

Kaviratne asked who had benefited from the removal of the Secretary to the Monetary Board?

MP Kaviratne said that Daulagala had been involved in the internal process following the first Treasury bond scam and the subsequent developments, including the coordination between the Central Bank and the Attorney General’s Department pertaining to the Treasury bond scams. Urging women’s organsations, civil society and law abiding citizens to take up Daulagala’s removal through social media, lawmaker Kaviratne said that the issue at hand should receive attention of the parliament.

“The Parliament is responsible for public finance. The Parliament cannot turn a blind eye to what is going on in the Central Bank. The national economy is in such a perilous state every effort should be made to investigate past frauds and thwart future adventures,” the MP said.

MP Kaviratne also recalled the role played by Deepa Seneviratne, Superintendent of Public Debt at the time of the first Treasury bond scam in exposing the then Governor’s culpability. “Unfortunately, we seem to be unable to change the direction regardless of exposure of past misdeeds,” she said.

Declaring that she had no intention of protecting any wrongdoer under any circumstances, MP Kaviratne said that the incumbent government should ensure transparency and accountability in public finance.

Examination of COPE (Committee on Public Enterprises), COPA (Committee on Public Accounts) and COPF (Committee on Public Finance) proceedings revealed a frightening picture, lawmaker Kaviratne said. Shocking revelations made by the watchdog committee should be examined against the backdrop of overall deterioration of the national economy over the past several years, the MP said.

She said that it would be a grave mistake on the government’s part to blame the current crisis on the raging Covid-19 epidemic. Acknowledging the difficulties caused by the economic downturn, MP Kaviratne said that the country was paying a huge price for unbridled waste, corruption, irregularities and negligence.

The MP asserted that the citizenry could play a bigger role in a political campaign on social media. The vast majority of those who use social media strengthened democratic opposition, she said. Removal of Daulagala could be a rallying point, she said, urging public onslaught on the SLPP government.