Former Central Bank of Sri Lanka (CBSL) Governor Ajit Nivard Cabraal was hush-hush on certain matters regarding the conflicts of interest in the transactions done by the Perpetual Treasuries (Pvt) Limited from year 2013, the Presidential Commission on the Treasury Bond Issue noted yesterday.
The Commission made the observation referring to Cabraal’s analysis titled The Bond Scam and “Conflict of Interest” which has been published in several national newspapers in July 4, 2015.
The Commission pointed out Cabraal has attempted in his analysis to establish the idea that when Cabraal’s sister Siromi Wickramasinghe was a Director of the Perpetual Capital Holdings (Pvt) Limited, there has been no conflict of interest.
The Commission pointed out that Cabraal in his analysis has only concentrated on the bids made by the PTL on treasury bonds and has gone to say that all the bids except one were rejected.
Contrary to the reasoning, the Commission observed that the PTL has also carried out transactions in the Treasury Bill market and in direct placements.
Based on that ground, the Commission said Cabraal has been silent about certain facts in his analysis and there indeed had been a conflict of interest.
The secretary to the Monetary Board H.A. Karunaratne is to appear before the Commission today.