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Commission report says Ravi’s instructions reasonable, justifiable – lawyer Commission found Ravi’s instructions to state banks reasonable & justifiable
Jan 18, 2018

Commission report says Ravi’s instructions reasonable, justifiable – lawyer Featured

The presidential commission that inquired into the Treasury bond auctions has found that Ravi Karunanayake, as the finance minister at the time, had instructed state banks in a reasonable and justifiable manner, a senior lawyer for him told 'Sri Lanka Mirror'.

The lawyer quoted from the commission’s report which says, “It was reasonable and justifiable for Hon. Ravi Karunanayake, MP, the then Minister of Finance, to wish to bring these Yield Rates down at these Treasury Bond Auctions.”

He further quoted from the report, “However, we have also earlier concluded that, there is no evidence before us which suggests that, Hon. Ravi Karunanayake, MP or the Ministry of Finance advised the CBSL that the aforesaid instruction had been given to the three State Banks.”

Giving evidence before the commission on October 04, chairmen and senior officials of the People’s Bank, Bank of Ceylon and the National Savings Bank confirmed Karunanayake’s having instructed them to bring the Yield Rates downs at the two auctions in March 2016.

Ravi was not the subject minister

The commission report also makes it clear that the CBSL had not been under Karunanayake at the time of these auctions.

The lawyer sent excerpts of the report to SLM yesterday (17), which are given below:

Bondreport Ravi

RaviKarunanayake 670px 29 08 17It is certain I will be proven not guilty, 
Ravi said announcing his resignation

Karunanayake resigned as the foreign affairs minister on August 10 following the pressure exerted by the media reports based on the revelations at the commission.

Before doing that, he told parliament that although he was innocent, he would resign in consideration of the country and the party.

Related News :

What the Bond report said about Ravi (Pics)

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