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Ravi denies being in charge of Central Bank during bond scam

Published

3 months ago

2025/12/4

Ravi

Former Finance Minister and NDF MP Ravi Karunanayake yesterday told Parliament that the Central Bank had not been under his purview when the bond scams took place.

“At no point during my tenure as the Minister of Finance I was assigned the Central Bank. This is the first time I am publicly mentioning this,” Karunanayake said.

He said so making a special statement under the provisions of the Section 27/8 Standing Order of Parliament. The Standing order provides for a personal explanation that could be made by an MP for the purpose of vindicating the personal conduct of that MP in response to a reference which has been made by another MP in the House while he was not present in the House.

Karunanayake said that he was making the special statement with the intention of rectifying a statement made by Prime Minister Dr Harini Amarasuriya, on 26 November, to the House, where she was answering a question pertaining to the Bond Scam. The Central Bank was under then Prime Minister Ranil Wickremesinghe, and the State and Private Banks were under the then Minister Kabir Hashim.

The Central Bank had always been under the Minister of Finance, except during the time that I held the office of Finance Minister,” Karunanayake said.

He said that incumbent Prime Minister Dr Amarasuriya’s statement on Nov 26 to the House implied that he was responsible for the Bond Scam. “That implication is a violation of my rights. It is misleading and damaging my rights. I make this statement not against PM Amarasuriya personally but to rectify the error and to set the record straight,” Karunanayake said.

Karunanayke said that PM Amarasuriya had stated that her answer was grounded in the recommendations contained in the Report of the Presidential Commission of Inquiry. “This is factually incorrect and misleading, for the Presidential Commission of Inquiry in their entire report did not find me guilty of anything or find me wanting in any way whatsoever,” he said.

The full text of MP Karunanayake’s statement: “I rise to bring to your notice a serious matter concerning a violation of my parliamentary privileges, and to seek your leave to make a personal explanation in terms of Standing Orders 21 and 27.

On 26 November 2025, during answers given in this House relating to the 2015 Treasury Bond issue — a matter pending before court for nearly five years — the Prime Minister made a statement that had the effect of attributing ministerial responsibility to me in a manner that is factually incorrect, misleading, and damaging to my reputation as a Member of Parliament.

In her response, the Prime Minister stated that her position regarding those responsible for the Central Bank bond transactions was “based on the recommendations contained in the Report of the Presidential Commission of Inquiry (PCoI).”

Although she did not expressly say that “the Central Bank came under Minister Ravi Karunanayake,” the clear implication of her answer — particularly when citing the PCoI — was that I bore ministerial responsibility for the Central Bank and its actions during that period. This implication is entirely incorrect, unsupported by the PCoI, and directly contradicted by the official Gazette notifications issued under Article 44(1) of the Constitution.

According to the Prime Minister’s response, I was described as “the Minister in charge of Finance” during the time of the alleged bond transactions, suggesting that ministerial authority over commercial banks rested with me. This is false. It misrepresents my official role, misleads the House, and prejudices ongoing judicial proceedings.

Mr. Speaker, at no point during my tenure as Minister of Finance I was assigned the subject of the Central Bank of Sri Lanka. The constitutional and administrative record (gazette ) is unambiguous:

The Central Bank has historically and at all times been under the Minister of Finance, except exceptionally , during the period I held that office. I did not exercise ministerial oversight over the Central Bank, its Monetary Board, or its regulatory actions during my tenure.

Ministerial oversight on the Central Bank had been assigned to the Prime Minister and the Minister of National Policies and Economic Affairs, Ranil Wickremesinghe. Cabinet records, Gazette notifications, and administrative circulars confirm this position beyond any dispute.

Similarly, commercial banks at the time in question fell under the purview of the Minister of Public Enterprise Development, Kabir Hashim.

His portfolio included State banks, Commercial banks, Bank of Ceylon, People’s Bank, National Savings Bank (NSB), SME Bank, and Banking governance functions.

Mr. Speaker, in conclusion, the Prime Minister stated that her answer was grounded in the recommendations contained in the Report of the Presidential Commission of Inquiry. This is factually incorrect and misleading , for the Presidential Commission of Inquiry in their entire report did not find me guilty of anything or find me wanting in any way whatsoever.”

By Saman Indrajith

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Advisory for Severe Lightning issued to the Western and Sabaragamuwa provinces and Galle and Matara districts

Published

2 hours ago

2026/03/12

Priyan

Advisory for Severe Lightning Issued by the Natural Hazards Early Warning Centre at 12.30 noon 12 March 2026 valid for the period until 11.00 p.m. 12 March 2026

Thundershowers accompanied with severe lightning are likely to occur at some places in the Western and Sabaragamuwa provinces and in Galle and Matara districts after 2.00 p.m.

There may be temporary localized strong winds during thundershowers. General public is kindly requested to take adequate precautions to minimize damages caused by lightning activity.

ACTION REQUIRED:
The Department of Meteorology advises that people should:
 Seek shelter, preferably indoors and never under trees.
 Avoid open areas such as paddy fields, tea plantations and open water bodies during thunderstorms.
 Avoid using wired telephones and connected electric appliances during thunderstorms.
 Avoid using open vehicles, such as bicycles, tractors and boats etc.
 Beware of fallen trees and power lines.
 For emergency assistance contact the local disaster management authorities.

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Nasa spacecraft weighing 1,300lb due to re-enter Earth’s atmosphere

Published

3 hours ago

2026/03/12

Priyan

The two Van Allen Probes were launched in 2012 [BBC]

A Van Allen Probe spacecraft weighing more than 1,300lb (600kg) is expected to re-enter Earth’s atmosphere almost 14 years after its launch, Nasa says.

The spacecraft is projected to re-enter around 19:45 EDT (23:45 GMT) on Tuesday the US Space Force predicted, according to Nasa, though there is a 24-hour margin of “uncertainty” in the timing.

The Van Allen Probe A, which launched in 2012, is expected mostly to burn up as it travels through the atmosphere, though some components may survive.

The space agency said there is a one in 4,200 chance of being harmed by a piece of the probe, which it characterised as “low” risk.

The spacecraft and its twin, Van Allen Probe B, were on a mission to gather unprecedented data on Earth’s two permanent radiation belts.

It was not immediately clear where in Earth’s atmosphere the satellite is projected to re-enter. The BBC has contacted Nasa for further detail.

Nasa and the US Space Force have said they will monitor the re-entry and update any predictions.

The mission, which was originally designed to last two years, went on for almost seven. It ended after the spacecrafts ran out of fuel and were no longer able to orient themselves toward the Sun.

The probes flew through rings of charged particles trapped by Earth’s magnetic field from 2012 to 2019, in order to study how particles were gained and lost, per Nasa.

Those rings, called the Van Allen belts, shield Earth from cosmic radiation, solar storms and streaming solar wind, which are harmful to humans and can damage technology.

The mission made significant discoveries, including the first data that show the existence of a transient third radiation belt, which can form during times of intense solar activity, Nasa said.

Van Allen Probe B is not expected to re-enter the Earth’s atmosphere before 2030.

[BBC]

News

PM Visits the International Rice Research Institute (IRRI)

Published

4 hours ago

2026/03/12

Priyan

Prime Minister Dr. Harini Amarasuriya visited the International Rice Research Institute (IRRI) headquarters in Los Baños, Laguna, Philippines, on 11 March 2026, and held bilateral discussions with Yvonne Pinto, Director General of IRRI, focusing on strengthening cooperation in the field of rice research and sustainable agricultural development.

During the meeting, discussions centered on rice cultivation in Sri Lanka, including the key challenges faced by Sri Lankan paddy farmers. The Prime Minister highlighted issues affecting the sector such as productivity constraints, climate-related impacts, and the need to support farmers through improved agricultural practices and technological innovations.

Both sides also discussed the importance of introducing modern techniques and research-driven approaches to rice cultivation in order to enhance productivity and ensure long-term food security. In this regard, IRRI shared insights on ongoing global research initiatives aimed at improving rice varieties, strengthening climate resilience, and promoting sustainable farming practices.

The discussion further focused on the potential for expanded collaboration between Sri Lanka and IRRI, particularly in areas such as research partnerships, knowledge sharing, and capacity building for Sri Lankan agricultural institutions and farmers. The Prime Minister emphasized Sri Lanka’s interest in strengthening cooperation with IRRI to support the development of the country’s rice sector and to improve the livelihoods of paddy farmers.

The visit reaffirmed the importance of science-based agricultural innovation and international collaboration in addressing food security challenges and enhancing sustainable rice production in Sri Lanka.