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Eyebrows raised as President announces Ministry subjects

23 September 2015 02:55 am - 0     - {{hitsCtrl.values.hits}}

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  •     Powers vested upon Finance Ministry further stripped off
  •     CB, SEC continue to operate under PM
  •     Certain department allocations confusing

President Maithripala Sirisena yesterday announced the subjects he had allocated to his Cabinet of Ministers through a Special 
Gazette notification.

 The highlight of the gazette notification was the further stripping off of powers vested upon the country’s Finance Ministry.  In the interim government, the Central Bank was taken out from the Finance Minister’s jurisdiction and this time it was the state banks and the Sri Lanka Insurance 
Corporation (SLIC). 

 All the state banks and their associated companies and SLIC have been placed under the newly created Cabinet portfolio—the State Enterprises 
Development Ministry.

 At the same time, SriLankan Airlines, Mihin Air, a couple of sugar companies and a few state-owned plantation companies have also been placed under this ministry.  The Central Bank and the Securities and Exchange Commission continue to operate under Prime Minister Ranil Wickremesinghe who is also the National Policy and Economic Development Minister. 

Though many speculated that Development Strategies and International Trade Ministry would be a super ministry, equal to former regime’s Economic Development Ministry, overlooking many other ministries, it appears that it is not the case. 

 The Board of Investments (BOI) and Export Development Board (EDB) have been placed under the Development Strategies and International Trade Ministry, along with the peculiar allocation of Mahapola Trust Fund. 

In fact, certain allocations of departments and other state bodies of this nature surely would raise a few eyebrows.

 For example, the Central Cultural Fund and Archaeology Department, which should have been ideally placed under Cultural Affairs Ministry, have been placed under the Education Ministry.

 The Paddy Marketing Board has been taken out from the Agricultural Ministry and has been placed under Rural Industries Ministry.

 Though many speculated that Development Strategies and International Trade Ministry would be a super ministry, equal to former regime’s Economic Development Ministry, overlooking many other ministries, it appears that it is not the case. 

 The Board of Investments (BOI) and Export Development Board (EDB) have been placed under the Development Strategies and International Trade Ministry, along with the peculiar allocation of Mahapola Trust Fund. 

In fact, certain allocations of departments and other state bodies of this nature surely would raise a few eyebrows.

 For example, the Central Cultural Fund and Archaeology Department, which should have been ideally placed under Cultural Affairs Ministry, have been placed under the Education Ministry.

 The Paddy Marketing Board has been taken out from the Agricultural Ministry and has been placed under Rural Industries Ministry.
 
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