Despite a news item that went out from the President's office on Wednesday (17) to the effect that the President had dissolved the Boards of the Bank of Ceylon, Peoples Bank and the Sri Lanka Board of Investment, as of last night none of the heads of these institutions had resigned from their posts, it was reported.
Unofficial sources revealed that the Chairmen and Directors of these institutions had taken a decision not to resign from their posts as ordered.
The Bank of Ceylon and Peoples Bank are entities that come under State Enterprises and Kandy Town Development Minister Lakshman Kiriella while the Board of Investment comes under Strategic Development and International Trade Minister Malik Samarawickrama. The Chairmen and Directors of these institutions had been appointed by the subject ministers and no intimation had been received from them by these officials even as late as yesterday evening telling them to resign from their posts.
Meanwhile, Secretary to the Ministry of State Enterprises and Kandy Town Development Ravindra Hewavitharana yesterday said that the President had given instructions to Minister Lakshman Kiriella to reconstitute the boards of the Bank of Ceylon and Peoples Bank as their tenure had ended.
He states further that with the concurrence of the President and the Prime Minister steps in this regard would be taken in the near future and until the changes are affected the present Boards would continue management activities without any interruption.
The Secretary to the Treasury has the power to appoint and remove the heads of the Peoples Bank and the Bank of Ceylon. (Ranjan Kasthuri)