Ranil At Bay: Not My Business If Ravi Also Ensured Massive Profits For Aloysius
The Prime Minister also dodges the Supplementary Questions
Question Number 27 is as follows-
“There is evidence before this Commission of Inquiry which suggests that, on 28th March 2016 and 30th March 2016, the then Hon. Minister of Finance met senior officers of the Bank of Ceylon, the People’s Bank and the National Savings Bank and instructed that these three Banks submit Bids at specified Rates at the Treasury Bond Auctions to be held on 29th March 2016 and 31st March 2016.
The evidence also suggests that, at these two meetings, the then Hon. Minister of Finance indicated to the officers of these Banks that, the CBSL would not accept Bids at Rates which were higher than the Rates specified by him and that, accordingly, the three Banks submitted Bids at the specified Rates. However, the evidence suggests that, in fact, when these two Treasury Bond Auctions were held, the CBSL had accepted Bids at Rates which were considerably higher than the Rates at which these Banks had placed Bids based on the instructions given by the then Hon. Minister of Finance.
Were you aware, in March or April 2016, of the aforesaid meetings and events?”
My reply is as follows-
I am unaware of the meetings referred to in paragraph 27. I suspect Ravi decided to get in on the act, having got an apartment courtesy of Mr Aloysius and seeing nothing wrong with doing on a large scale what had been done under our aegis the previous year. Since we seemed to have got away with it, having suppressed the earlier COPE report and then keeping Mr Mahendran in office, I can see the temptation. Leave alone what we were responsible for, my spirited defence of Mr Mahendran must have tempted Ravi and his cronies, and there was nothing I could do when I found out what had happened since I could not afford to find fault with something I had happily countenanced the previous year.
And we would have got away with it if the Auditor General had not been determined to do what he thinks is his job, and if Handunetti had not let us down even though I thought he could be squared which is why we put him in charge of COPE. And by the time we knew what was happening, and put Sujeewa on for damage control, things had gone too far.
Question numbers [7], [27] and [30] are as follows-
“[7] Please see Cabinet Sub-Committee on Economic Affairs Meeting Minutes of 24.02.2015 & 03.03.2015.
(a) In terms of RDA Projects the decision was that all road projects to be prioritized and implemented with available funds? A list to be prepared and finalised next week. (Vide Minutes of Meeting 24.02.2015).
Therefore, having regard to the above there was no urgent funding requirement which was discussed or agreed upon?”
“[27] In response to question No.12, you have stated that it is incorrect to state that funds for payment of contractors for roadworks was not required to be raised in February or March 2015. However, documents in evidence before this Commission, including the relevant monthly cash flows and the minutes of the meeting of the Cabinet Sub Committee on Economic Management in February 2015 indicate that there was no such requirement. The said Cabinet Sub Committee has in fact decided that these payments should be met with available funds. So, on what basis do you substantiate your position?”
“[30] The briefing note you have produced at X1 does not refer to an urgent funding requirement of Rs.15 billion for payment of contractors for roadworks nor the breakfast meeting held on 26.02.2015. It only refers to the Rs.13.5 billion which was already in the cash flow for the week ending 02.03.2015. In this background, can you explain why you have in your response to question No.12 and in your Statement in Parliament on 17.03.2015 linked the Rs.15 billion for payment of contractors for roadworks and the breakfast meeting held on 26.02.2015 with the funds raised via the treasury bond auction of 27.02.2015?”
My reply is as follows-
Although at the meeting of the Cabinet Sub Committee on Economic Affairs held on 24th February 2015 it is recorded that “All road projects to be prioritized and implemented with available funds”, I was subsequently informed by the Minister of Highways that only about Rupees One Billion was in fact available to make payments for these projects. Though this is not on record and you might think it strange that he should have discovered this so conveniently for the bond issue, I am confident that he too acted in good faith.
I requested the concerned Ministers and officials of the Treasury and CBSL to give priority to sorting out how the funds could be obtained.
Therefore when the meeting of 26th February 2015 was held they had decided that Rs. 15 Billion was urgently required.
