A team of UNP representatives met President Maithripala Sirisena yesterday to discuss the President’s decision to dissolve the Boards of Directors appointed by relevant Ministers to three institutions functioning under two UNP Ministers of the Yahapalana Government, states a press release issued by the UNP Central Media unit yesterday.
The Boards of Directors of the Bank of Ceylon (BOC), People’s Bank and the Board of Investment (BoI) of Sri Lanka have been dissolved by President Maithripala Sirisena with effect from October 17 midnight.
The Bank of Ceylon and the People’s Bank function under Minister Lakshman Kiriella while the BOI functions under Minister Malik Samarawickrema
The Director Boards of the Bank of Ceylon and People’s Bank will not be immediately dissolved, but will continue to function normally until the new members to them are finalised, Public Enterprise and Kandy City Development Ministry Secretary Ravindra Hewavitharana said.
Speaking to the Daily News yesterday, he said the President has instructed Minister Lakshman Kiriella to reconstitute the Director Boards of the State Banks.
“This will be done, but there is no immediate dissolution. There must not be negative impact on the bank affairs. The current Board members will continue till the new appointments are made,” he stressed.
He also denied the claim that the President’s directive came in the light of fraud and corruption allegations.
“The three-year term of the Director Boards has lapsed and it is normal to reconstitute the Boards,” he replied.
He said the new appointments of the Boards would be done with the agreement between Minister Kiriella and President Maithripala Sirisena.
Minister Kiriella met President Sirisena on Wednesday night to discuss the restructure measures of the State Banks. The Minister had received the President’s instructions in that regard in writing. “The restructure measures are done with understanding and communication between the President and the Minister,” said the Minister’s Media Spokesman.
Add new comment