Heads of departments of Sri Lankan regulatory bodies were recently apprised by the Finance Ministry and told in no uncertain terms that chairpersons of these institutions should not interfere in its day-to-day affairs.
The Sunday Times FT reliably learns that Treasury Udaya Seneviratne on Friday, August 28 held a meeting for heads of the Securities and Exchange Commission, the Insurance Board of Sri Lanka (IBSL) and SLAASMB (an accounting regulatory body), and said that the Director General of these institutions have been provided with all powers in running these units and are empowered to do so, and that there should be no interference from their chairpersons.
This follows a dispute at the IBSL where its DG Ms Lasinee Serasinhe has complained to the board of directors (in letters to all directors) of interference by the chairman Udayasri Kariyawasam and difficulty to work because of this. In an August 9 story, the Sunday Times FT reported that the IBSL had advertised for a new Director General (DG) although Ms DG Lasinee Seresinhe has not resigned or expressed an intention to do so.
The report said that Ms Seresinhe is due for retirement. At the Finance Ministry meeting, presiding officials had been concerned by the absence of chairpersons and board directors who were also invited to attend. |
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