Cabinet, P’ment should question CB over economy: Bandula

29 November 2022 08:44 am - 19 - {{hitsCtrl.values.hits}}

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Both Cabinet and Parliament should question Central Bank officials about the recent decisions they have made with regards to the economy, Minister Bandula Gunawardena told Parliament yesterday.

“We will be able to question the decisions which Central Bank officials have made during the recent past if they are summoned to Parliament and the cabinet,” the Minister said.

“It was the Central Bank which made decisions on issuing bonds, on exchange rates and interest rates. However, the MPs of this House had to pay the price by having their houses attacked,” he said.

“Finances seem to be controlled by the Central Bank though powers are vested with the legislature as per the constitution,” he added.

“Importation of essential goods has become an uphill task after the decision made to declare that Sri Lanka is in a default status. Foreign banks no longer accept letters of credit granted by local banks after the declaration of default status,” he said.

The Minister also questioned the high interest rates which are around 30 percent currently. (Yohan Perera and Ajith Siriwardana)

Comments - 19

Nilmini Welivita Tuesday, 29 November 2022 09:06 AM

Bandula sir is such a wise man, just like the Rajapaksas. Hope he can steer the country to prosperity.

BuffaloaCitizen Tuesday, 29 November 2022 09:13 AM

When thousands of Tamil Houses were burnt down in 1977 and 1983 by Sinhalese using State support, why not a single investigation made? Now when you bastards houses get burnt, you feel the pain and pinch and even get State compensation. When Tamil houses were burnt, not one rupee of compensation of assistance from the State.

Mahila Tuesday, 29 November 2022 12:59 PM

Reflects the super state of democracy and governance in SL!!?? One law for minorities, another for majority (Burning of their houses) and third best for only politicians!!!!??? What a joke by charlatan?? Bandura’s KANDULU!!!??? CROCODILES PUT TO SHAME!!?? What were you doing when Prof Luxman, Cabaal were experimenting with "NEW MONETARY THEORY", PRINTING MONEY and selling the "HOME SILVER" - AKA CBSL Reserves in billions of $, to prop the Rupee!!?? You are only qualified to tutor rural o' level students not even A level on economics!!!??? Parliament is not the Panacea for all ills!!?? What do you want to question CBSL officers?? How they accomplish their 'MORNING ABLUSIONS'??? Perhaps MARGINALLY QUALIFIED TO DO!!!???

Jude Tuesday, 29 November 2022 09:21 AM

More than CB officials people should question the 225 scumbags,!! Yeah!!

Sokrates Tuesday, 29 November 2022 09:31 AM

A central bank in a developed and democratic country must be completely independent in its decisions, such as the US FED or the European Central Bank. It does not have to explain or justify its decisions to the head of state, the cabinet or the parliament. Central bank governors are elected by various designated bodies in in the different countries, but these are independent of the state legislature and executive. So there is no danger of fools and amateurs like Bandula interfering in monetary policy.

rbh Tuesday, 29 November 2022 09:35 AM

Past year PM read the budget for 3hrs is presented to Parliament each year; it enacts the proposals for taxation and after 3 Years the country is in bankrupt there is no role of scrutinize the work of the Treasury direction to unethical

saber Tuesday, 29 November 2022 09:54 AM

As citizens we'd like to question the decisions taken by the thieving crooks who call them parliamentarians. Go ask those questions from your fellow crooks Ravi and Basil hora

Seqi Tuesday, 29 November 2022 09:59 AM

Sir, with respect, you wouldn't understand.

Reformist Tuesday, 29 November 2022 09:59 AM

What is your solution big mouth? You'd be better off doing tuition classes than holding Ministerial posts. SL should be glad at least this Governor was willing to accept this job in a lawless, corrupt country. No other distinguished professional (a real independent one) would have accepted that in this wonderland governed by a bunch of lunatics (since independence, mind you). We should call British back and ask them to rule this country. What has the patriotism achieved for SLankans after independence. A rogue state?

Kusum Tuesday, 29 November 2022 10:15 AM

Tuition Master, you should be questioning your former boss; Ali Baba

Siku silva Tuesday, 29 November 2022 10:21 AM

Permanent Head Damage - People should stop voting for these idiots if it was not for the current decisions from the CB governor and CB Sec. they dollar would had gone up to 500 LKR or more.

Mama rata yanva Wednesday, 30 November 2022 07:56 AM

Exporters believe dollar worth more than 700 rupee. They stopped bringing in their dollars when the first fix was done last year at 200. Central Bank with the mad exchange control, no allowing dollars out, and also having dollar rate fixed means, exporters keeping 10s of billions of dollars out of sri lanka each year until proper long term float happens again. Same with middle east housemaid, and driver, most going keep their earning in the banks there for as long as possible, like beyond 2024 until exchange rate improves. With inflation running at 70%, interest rate of only 30% means money in bank can't keep up with inflation. Country is in total hell hold with Central Bank exchange controls, fixed dollar and high interest rates.

Man Tuesday, 29 November 2022 10:33 AM

Thank you CB governor for stopping, falling to the abyss with wise decisions, by considering the priorities of the common man though the UNP and the SLPP wanted to get rid of him, for a repeat scam that prevailed from 2003.

Roshanaly Tuesday, 29 November 2022 11:13 AM

Its seems that they don't like the present CB Governor and get rid of him to start their game again.

Jacob Tuesday, 29 November 2022 11:26 AM

Very soon CB governor will resign. Sri Lanka economy will again hang in misery for some more months. Very sad.

Asanga Tuesday, 29 November 2022 11:34 AM

It was politicians who politicized the CBSL with political appointments to the CBSL governorship and in the monetary board. You people ruined the country may be beyond repairable in near future. It takes what it takes for true economists to repair the damage. You yourself made statements to the effect saying that your "Tikiri" brain cannot comprehend what's happening in the economy and a way out of it. Please retire without making things far worse.

Ars Tuesday, 29 November 2022 11:59 AM

Wow was this guy an economics teacher, they ruined the country and now try to blame the central bank governor, they r trying to get rid of CB governor, who I believe is one of the few good government official in the country, problem is he is not dancing to their tune

Buddhist Tuesday, 29 November 2022 05:31 PM

As per the Constitution, the Parliament is responsible for the finances of the country, in that case, Parliament MPs and especially the Cabinet of Ministers must take total responsibility for not taking timely action against the Central Bank's decisions.

J.Sourjah Tuesday, 29 November 2022 08:38 PM

Elections are nearing and now the ball passing start - these idiots keep shaming themselves each time they open their mouth

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Cabinet, P’ment should question CB over economy: Bandula

Comments - 19

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