The Commission Report says the Prime Minister should not have appointed Arjuna Mahendran as the Governor of the Central Bank.
Posted on January 5th, 2018

Dr. Sudath Gunasekara 3.1.2017

Now that the CB scam commission at last is out and having listened to the Special statement of the President to the nation over the TV, I opine to make few pertinent observations that would be interesting for the general public.

I quote from the Report below what it said on Prime Minster

The Commission is of the opinion that the Prime Minister made his statement in Parliament regarding the appointment of Mr Mahendran believing in the facts presented by Mr. Mahendran and Mr.Samarasiri, especially the promises made by Mr Mahendran. The Report also says that the Prime Minister should not have done that”.

The Commission stated that moreover these facts were before the COPE committee and the Prime Minister had not stated that because of that he had not taken the proper action against Mr. Mahendern”.

This I think is a clear indictment on the action of the Prime Minister which indirectly suggests that the PM is also at fault while it also has said that AM’s appointment by Ranil was properly done.

What the Commission failed to mention in their observations are listed below

Arjun Mahendran was appointed against the wishes of the President on the insistence of Ranil

He was a Citizen of Singapore and not a citizen of this country

The question of legality of currency notes signed by foreigner and question of the legal hold the Government of Sri Lanka has on such Governor

When Arjuna’s actions were questioned in Parliaments Prime Minster defended him

Prime Minister also got the Central Bank under him where as it was all the time under the Ministry of Finance from the inception. And why did he do that.

Why didn’t the President object that

The close and dubious relationship between Arjun M and Ranil at Royal and college mates and chums (which undoubtedly this relationship must have influenced in his decision to get him appointed as Governpr).

That they have had a preplanned plan hatched in Singapore before the Presidential elections in Jan 2015 to bringing Arjun M as Governor CB and take the CB under the PM

The fact that when the Bond question was brought to light Ranil also tried to appoint his own Commission to inquire in to those allegations but fortunately it was flopped as the President took timely action to appoint the Presidential Commission

In this backdrop

It is very clear that Ranil has faulted not only in Ajuns M’s appointment but also erred by not taking timely action against him when his conduct as the Governor was questioned. Was it not his responsibility both as the Minister in charge the CB and as Prime Minister and also as the man who got him appointed as Governor in spite of strong objection by the President to take prompt action against Arjun M. The fact that he has not taken action as suggested by the COPE in time and he had safeguarded Arjun Mahendrans interests more than the interests of the nation or the public clearly that he had a personal stake in this whole issue.

Looking at the whole process in my opinion there had been a long time fraudulent and criminal conspiracy against the nation and the CB  by a gang of top politicians, hatched even before the 2015 Jan elections to work out the modus operandi of this appalling, shameless and mega robbery. If not why did they import Mahendran as Governor when there were enough competent men at home, why did the PM suddenly decided to bring the CB under his purview where as it had been under the Finance Ministry ever before. Aren’t all these moot issues

Therefore I think Ranil should take the whole responsibility for this criminal mega robbery of not only the nation’s Central Bank but also for the losses caused to all other state financial institutions like the EPF, Mahapola, NDB and SLIC – that was over Rs 8.5 billion and the total of LKR 11,145 million lost for the country within five months, as the report has found.

The country would like to know why the Commission as well as the President has not taken these issues in to consideration in fixing responsibility.

As such I would pause the question ‘Was it a fact finding Commission or a facts evading Commission’ to suit a designed plan of the Yahapalanaya Government?

Under these circumstances in my opinion the accused persons should be listed as follows in order of weight and the gravity of the crime committed

1 Prime minister Rnil Wickramasinha

2 Finance Minister Rvi Karaunaratna

3 CB Governor Arjun Mahendran

4 Arjun Aloysius

5 All others who have either complied or conspired with it, including politicians and others, and all officials who have neglected and failed in their responsibilities and duties

If the President fails to do that it will be only another classical Kekille Rajjuruwange Nadu tiinduwak given by him for political expedience.

Even if he does this he want be able to absolve himself completely as he has not said NO to Mahendran’s appointment which implies his implicit approval of decision taken by the PM.

Meanwhile one would wonder as to why the Gpvernment drag in the pre- 2015 period at this moment if not for the intention of distracting public attention on the main issue, when such reference is outside the TOR of the Commission unless the President has some other dubious plans up his sleeves.

Now that Arjuna Mahendran is reported to have gone back to Singapore, one wonders whether it is the end of legal action against him. Suppose Singapore takes up the position that Sri Lanka cannot take legal action against one of its citizens as he does not has a dual citizenship either. I have no doubt the so-called International Community will also stand by such decision. Then surely that will be the end of the game as far as AM is concerned. I only hope Arjun Aloysius is still I Sri Lanka.

Why did the President not stop Arjuna’s appointment to begin with? Why did he allow the PM to make a written submission without asking him to testify in person before the commission thereby and put him above the law? These are some pertinent questions left unanswered for many moons to come.

Is the Emperor himself also naked? That would be a very pertinent question people might ponder.

Meanwhile the whole country would also like to know now as to what has happened to Mr Clean as he was once called.

Under this scenario the country expects him to honourably submit his resignation immediately not only as the Prime Minister but also from the Leadership of the UNP as the country needs to have these two Parties until a better solution is found for this country in place of this corrupt political Party system introduced by the British to ruin this country, whether we like it or not until such time these two major parties have to go on, for UNP needs to find an honourable leader of the caliber of DS to restore the lost prestige of UNP before it falls in to the dustbin of history under Ranil’s miserable leadership. In case he does not, the president should ask him to resign failing which the President will have to sack him and appoint a new interim Cabinet with a new Prime Minister, if he puts the country and the public interest before personal interests as he use to declare and pontificates all the time. He will also have to closely watch whether the AG will do the job properly as people have a reasonable suspicion on him after his pathetic performance when he led Ranil’s evidence at the Commission.

The whole country is eagerly watching and waiting to see as to what the NATO President Sirisena will do within the next few days to come. His entire political future will depend on how he acts on this issue rather than chasing after Rajapaksas for personal reasons. The whole country knows it was the UNP block vote that made him the President. But trying to save Ranil at this juncture will end up in political disaster for him. Now that, having appointed him unconstitutionally and illegally on Jan 2015 and tolerated him as PM for three years is more than enough gratitude for agreeing for your candidacy as the Common Candidate, not because he loved you but simply because he had no confidence in himself.

All culprits involved in this national crime should be immediately arrested and action taken against them to give them the maximum punishment ending up in confiscation of  all their assets both here and abroad and removing their civil rights for life if public hanging is not possible. Then it will remain a classic example of Yahapalanaya in this country for ever.

8 Responses to “The Commission Report says the Prime Minister should not have appointed Arjuna Mahendran as the Governor of the Central Bank.”

  1. NeelaMahaYoda Says:

    By looking back at the whole episode of the Bond Scam drama, it is obvious that first plan was hatched in Singapore before the Presidential elections in Jan 2015. Since Ranil and his party needed money for the general election. It is apparent that he got Arjuna Mahendran to rob the central bank after appointed him as the Governor of the central bank knowing very well that Sri Lankans can’t take any legal action against him since he is a foreign citizen.

    That is why Arjun Mahendran was appointed against the wishes of the President on the insistence of Ranil.When Arjuna’s actions were questioned in Parliaments Prime Minster defended him. Prime Minister also got the Central Bank under him where as it was all the time under the Ministry of Finance from the inception.

    Now it is up to the people of Sri Lanka to change the government at its earliest practical time scale , bring this again in more elaborate investigative court of law with real judicial powers to prosecute them and recover the losses incurred, send the perpetrators to rot in the jail for rest of their lives.

    I sincerely hope, the day will not be far away for us to wait to see Ranil W and the clique in white jumpers at Welikada government residence Colombo. Postal Code. 10600.

  2. Dilrook Says:

    The president takes overall responsibility. Appointing foreign citizens to important roles must stop. This is a nasty trend that developed in the last decade. A foreign citizen cannot become a MP. This restriction must be extended to other important posts as well. All important roles must be filled by Sri Lankan-only citizens.

    There are dozens of presidential commission reports released recently. Report by former High Court judge Soorasena is also very significant.

    People await punishment of all crooks irrespective of political parties. What Sri Lanka needs is a brand new set of leaders. Things will become clearer in the coming months when all reports of presidential commissions and FCID reach AG department and arrests are made. If that happens, people and the nation win at last.

  3. Christie Says:

    Sirisena signed the appointment Arjuna Mahendran. He should take full responsibility.What is I got to do with Rani.? He signed, He should RESIGN.

  4. Christie Says:

    සිරිසේන වේට්ටිය උඩ්ටම උස්සගෙන එයා පත්කරපු කොමිසන් වාර්තාව ගැන අපිට උජාරු.

    මෙයාමනෙ අර්ජුන පත්කිරීමට අත්සන ගැහැව්වෙත්.

    කොමිසන් වාර්තාව පෙන්නනව සිරිසේන පත්කරපු අර්ජුන කරපු වන්චාව හා රටටම කරපු පාඩුව.

    සිරිසේන මුලුවගකීම බාරගන්න ඕනි.

    රනිල්ට, රවිට හා වෙනත් අයට වගකීම පවරන්න බැහැ.

    සිරිසෙනගේ කඩුතලය මතට ඔහුම වැටිය යුතුය.

    Sirisena is carrying on about the Commission he appointed and its report on the biggest financial fraud in the country..

    He is the one who finally appointed Arjuna Mahendran by signing the documents of Arjuna’s apoointment.

    The Commission Report details the fraud, amount lost to the nation by sirisena’s appointment.

    Sirisena should take full responsibility for the appointment of Arjuna Mahendran.

    He cannot pass the responsibility to Ranil or Ravi or anyone else.

    Sirisena Should fall on his own sword.

  5. Sarath W Says:

    Ranil in his evidence to the commission said, long before the planned robbery, he told Mahendren, Aloysius should resign from the board of Perpetual Treasures. This is proof that the robbery was pre planned to recover the election spending and a foreigner was brought in so that he can escape without any punishment.

  6. Ancient Sinhalaya Says:

    Sinhala modayas where is your brain? It is traitor chief die hard catholic token Buddhist Mega Thakkadiya Mega
    Thief Bay Gal Karaya Batalande Wadakaya Lajja Baya Nathi Aga Matta Pol Pot r@nil wickrama Sinhala killer’s
    catholic mafia. All die hard catholic token Buddhist r@nil’s catholic mafia robbing the central bank and getting away
    with Rs5585 billion. Still Sinhala modayas think something will happen. Traitor low lives needed a escape goat.
    So the gang of thieves chose karunkaya. This sort of thing is nothing new to karunkaya. So talking about karunkaya
    skining alive will buy them time. After few months Sinhala modayas going to forget. Then give the modayas a big lie
    like 4 million jobs or volkswagen co or 10,000 Rs increase, the modayas will vote with their feet!

  7. NAK Says:

    Ranil is the great bank robber. Period.
    He planned it, executed it and collected the loot. He now shamelessly betrays all his accomplices to save his own skin.
    He might do until Sirisena is dethroned and once that is done Sirisena too should be made to face the music as he is no innocent bystander in this crime against the nation.

  8. Susantha Wijesinghe Says:



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