Bond issues: Probe Commission seeks three-month extension

A three-month extension has been sought by the Commission of Inquiry appointed by President Maithripala Sirisena to look into irregularities in respect of issuance of treasury bonds including the controversial Central Bank bond issue of February 2015.

The Commission was given three months from its date of appointment on January 27, 2017 to submit its report, setting out its findings and recommendations.

The Sunday Times learns that the Commission has, however, sought an extension of three more months to conclude its work with several key witnesses yet to give evidence. These include the Central Bank's former Governor Arjun Mahendran who is at the centre of the bond issue inquiry.

The Commission begins sittings tomorrow after the National New Year recess and three prominent witnesses have been notified to appear before it.

They are former parliamentary Committee on Public Enterprises (COPE) chairman D.E.W. Gunasekera, the current COPE Chairman Sunil Handunnetti and Deputy Foreign Minister and COPE member Harsha de Silva.

Commission Secretary Sumathipala Udugamasuriya has written to them summoning them to appear before the Commission on April 24, 25 and 26 respectively.

Mr. Gunasekera headed the first COPE committee that probed the controversial bond issue of February, 2015. However its report could not be presented to the House as Parliament was dissolved on June 26 2015 ahead of the August general elections. After the election of the new Parliament, the bond issue was probed by the COPE headed by its new chairman Handunnetti. Its report was presented to Parliament in October last year.

The Commission was subsequently appointed by President Sirisena in January to investigate and inquire into and report on the issuance of Treasury Bonds during the period between February 1, 2015 and March 31, 2016. Its members are Supreme Court Justices K.T Chitrasiri and Prasanna Sujeewa Jayawardana and retired Deputy Auditor General Kandasamy Veluppillai,.