Two faces of the same coin

Phew! How ironical life can turn out to be sometimes. One day you poke your finger in another’s eye only to get poked in both eyes.

Ever since February 2015, Prime Minister Ranil Wickremesinghe has been dogged by the accusation of being involved in the biggest bank robbery the country has ever known: the multibillion bond scam. The specific charge levelled against him was that he recommended Arjuna Mahendran to the post of Governor of the Central Bank.

But on what basis the recommendation to the president was made has been generally glossed over by Ranil’s foes once the bond scam was exposed.

To recount: Arjuna Mahendran was a Royal College old boy who had graduated from Balliol College, Oxford. He had served for ten years in the Central Bank from 1983 to 1991. Then served as the Managing Director and Chief Investment Strategist-Asia at HSBC Private Bank. He was responsible for research and analysis of markets in the Asia Pacific. He served as Chief Investment Officer-Wealth Management division at Emirates NBD. He then led the analytics team in interpreting market economics and developing investment strategies for HSBC's clients in the region. From 2001 to 2004 – during the period Ranil Wickremesinghe was Prime Minister in President Chandrika Kumaranatunge’s government -- served as Chairman and Director-General of the Board of Investment of Sri Lanka. Thereafter, he served as Chief Economist & Strategist – Asia Pacific at Credit Suisse Group AG and was its Head of Research for Asia Pacific since October 2006. He became a Singapore citizen the same year.

It was with such a CV that moved Ranil to recommend to the President that Mahendran be appointed the nation’s banker. And President Sirisena duly appointed Mahendran to the post. Who could have imagined at that hour, that Mahendran, backed with such a pedigree, would turn the Central Bank into his own piggy bank and, in three years to come, will be on the run wanted by Interpol?

After all, no crystal ball was in the prime minister’s possession or powers of clairvoyance hidden deep in President Sirisena’s psyche to foretell what the future held when the fateful appointment was made.

Once the bond scam was exposed, the President appointed a Presidential Commission of Inquiry. The Prime Minister gave evidence and was absolved of any involvement in the crime of the century. The Presidential Commission only faulted him for making the appointment and for lack of judgment in doing so. But then again, who can tell the future, who can read the mind of a man one appoints in trust? Especially when he comes armed with impeccable credentials and qualifications for the job interview? Yet, Ranil Wickremesinghe had to face a no-confidence motion against him in Parliament for that one blunder.

One month ago President Sirisena appointed a certain Dr. Mahanama, who had recently retired from his post as the Secretary of the Land Ministry, as the President’s Chief of Staff, a powerful position. If Mahendran had been the nation’s banker, Mahanama was the President’s Man Friday.

Last Thursday evening, the CID arrested him at the Taj Samudra car park counting Rs 20 million in Rs 5000 notes received as a bribe -- the first installment of Rs. 100 million -- from an Indian businessman who had an eye on investing in the defunct Kantale Sugar factory. Also arrested was his partner Dissanayake, the Chairman of the State Timber Corporation, another Sirisena appointee.

This week, the president appointed a certain Anuruddha Polgampola as the new chairman of the State Timber Corporation. But no sooner was the appointment announced it came to light that this Polgampola’s past record cast doubts on his eligibility to head such an important institution and he was sacked forthwith on Thursday. Born on May 4th. Gone on May 10th. At least it shows the Government is willing to admit its mistakes when it is brought to their notice. But that’s no excuse. The people’s trust must be discharged by those upon whom it is reposed with due diligence.

So whilst Ranil’s appointee Mahendran is on the run with Interpol searching for him, while Sirisena’s two appointees Mahanama and Dissanayake in remand custody and Sirisena’s third appointee Polgampola sent home, funny isn’t it how life can indeed be ironical? Or not what it seems to mean.

Perhaps, next time round, both Prime Minister and President should do well to consult the crystal ball in the possession of the state intelligence services before rushing in to make important appointments on the strength of the certificates the hopefuls bring with them to the casting couch or the infectious charm they carry in their countenance and smile.

Like charity begins at home, like corruption stems from public office, accountability must start from the desks at which the bucks stops. Crystal ball or no.