Bond Commission report and PRECIFAC report to parliament today

The final report of the Presidential Commission of Inquiry (PCoI) into the Bond Issuance of the Central Bank of Sri Lanka and the report of the Presidential Commission of Inquiry to Inquire and Investigate into Serious Acts of Fraud and Corruption (PRECIFAC) will be handed over to the Secretary-General of Parliament today.

The Secretary to the President Austin Fernando had recently promised that these reports would be forwarded to Parliament in response to a request made by the Speaker Karu Jayasuriya on 9th January.

Speaker Karu Jayasuriya on the request of party leaders asked the President to submit the final report prior to the debate in parliament on 10th January. However, due to lack of time, the report was not handed over to the parliament for debate when a special session of the parliament convened on the 10th resulting in protests by opposition parties in parliament.

The final report of the Bond Commission was handed over to the President Sirisena on 27 December.

The President has directed the report to the Attorney General on 2nd January instructing him to take immediate action.

Attorney General Jayantha Jayasuriya PC has appointed a four-member committee comprising a Senior Additional Solicitor General, two Deputy Solicitor Generals, and a Senior State Counsel to conduct a legal study of the Bond Commission report.

The team will study the commission’s recommendations and pay attention to the initial steps to be taken in this regard by the Attorney General’s Department.

Copies of the Treasury Bond Commission report were also forwarded to the Central Bank and the Commission to Investigate Allegations of Bribery or Corruption.

President Sirisena by a gazette notification on 10 March 2015 established the Presidential Commission of Inquiry to Inquire and Investigate into Serious Acts of Fraud and Corruption (PRECIFAC) to investigate fraud and corruption as well as the misuse of power that took place during the former president Rajapaksa’s term 10 January 2010 to 10th January 2015.

The Commission comprised Chairman Justice K.T. Chitrasiri, Justice P.S. Jayawardena and retired Deputy Auditor General V. Kandasamy.

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