Government’s vistas of prosperity turned into vistas of corruption and negligence: Eran

Condemning the recent appointment of Mr. Nivard Cabraal as Governor of the Central Bank, SJB Parliamentarian Eran Wickramaratne alleged that the government's manifesto - ‘Vistas of Prosperity and Splendor’ has devolved into Vistas of Corruption and Negligence.

“This started with the swearing-in of a convicted murderer as a Member of Parliament, admittedly now on a judicial appeal. The saga continues with State minister Ratwatte allegedly threatening prisoners in state custody. Ratwatte’s appointment to high office disregarded due process where previous allegations have gone unanswered. Appointment of the present Central Bank Governor also disregards due process where Mr. Cabraal’s name has surfaced in many scandals,” MP Wickramaratne said in Parliament yesterday. 

Often such criticism is dismissed as political mudslinging without proper investigation and judicial probe. In a country where the judicial system is held in esteem , if the accused has been falsely implicated, an independent investigation followed by an impartial judicial hearing will clear the good name of the accused. If the allegations are proved to be correct, then the accused must be punished, he stressed. 

The Central Bank’s (CBSL) primary responsibility is to maintain financial system stability and economic and price stability. The founding financial architects of the CBSL believed that the foundation of the financial system is trust. “To maintain this, the individual appointed to its highest office should be trustworthy beyond question. Is Mr. Cabraal of such character?,” he asked. 

He also noted that it is well known that there were many questionable transactions that the Central Bank was involved in when Mr. Cabraal previously held office as Governor. 

“This includes investments in Greek bonds, hedging transactions of the Ceylon Petroleum Corporation, investments of the Employees Provident Fund (EPF) , issuing Treasury Bonds and its secondary market transactions,” he said.