Sudath Gunasekara

23 /1 2018.

An open letter to the President

Dear Mr President

Please take a look at the news item attached below under the caption as it is happening under your Government.

‘Following Governor’s objections

Govt. pressures CBSL to endorse controversial payment platform project

NPP apolitical, will promote economic growth – Harsha’

Also please draw your special attention to the Minister Harsha de Silva’s emphasis on apolitical will on economic growth.

I personally feel that it is more than enough that they have taken you along a blind allay for 3 years and almost have now fixed you against the wall  at which point at least  when you have to take a serious decision as what your mission should be.

As the news item reveals they are heading for a third CB scam as if what they have done for the past three years is not enough

At least now  the 200 million odd people in this country desperately urge you to revert back the Central Bank to the Ministry of Finance to prevent further disasters, if you are unable to dissolve the Cabinet as advised by all legal experts without waiting any further before a major political disaster takes place. You will know it better than anybody else as to what will happen if by any means Ranil replaces you as the President of this country.

Since you are the Head of the State by law, you are finally responsible for all the commissions, omissions and blunders done by your Prime Minister and his Cabinet and the entire Government

This I think this is the fourth time I am drawing your attention to this danger, although you have not cared a damn about my advice. I am making this warning as a senior and responsible citizen of this country as I love my motherland and its people more than any present day politician.

I urge you and make this fervent request to listen to the advice given by eminent lawyers regarding the dissolution of the Cabinet, at least in self-defense, even if you are not concerned about the country or the people, to take an immediate decision and dissolve the present illegal Cabinet that will enable you to get rid of the PM and avert a major calamity without hanging on to this disastrous regime.

Mr President the time is running faster than you think. Therefore take a decision before your UNP friends overtake you by surprise at any time, may be even before sun rise for tomorrow.

If you do that and arrange for an interim Government acceptable to the people you will at least remain safely as the President until your period expires in 2019.

Attached Article

Following Governor’s objections Govt. pressures CBSL to endorse controversial payment platform project NPP apolitical, will promote economic growth – Harsha

February 22, 2018, 10:55 pm

By Shamindra Ferdinando

On the instructions of Prime Minister Ranil Wickremesinghe, who is also minister of National Policies and Economic Affairs, his deputy, Dr. Harsha de Silva has initiated talks with the Governor of the Central Bank of Sri Lanka (CBSL) Dr. Indrajith Coomaraswamy to iron out differences over proposed controversial National Payment Platform (NPP).

Dr. Coomaraswamy has been called for a meeting of the Cabinet Committee on Economic Management (CCEM) on Wednesday evening at Temple Trees after The Island published his confidential letter to E. M. S. B. Ekanayake, Secretary to the Prime Minister.

In his letter, dated Feb. 15, Dr. Coomaraswamy strongly opposed proposal for a separate hybrid enterprise with the involvement of the CBSL and Information and Communication Technology Agency (ICTA) to facilitate single button transactions. Asked by The Island whether the government would go ahead with NPP against the backdrop of Treasury bond scams controversy and also in the immediate aftermath of heavy drubbing at Feb. 10 local government polls, Dr. de Silva said that he would work with ICTA and CBSL in that regard. The Deputy Minister said: “We discussed at CCEM with Governor Coomaraswamy and ICTA and agreed to come up with a possible solution shortly. I will coordinate with both sides. The objective is to create the right ecosystem for digital payments to ignite entrepreneurship in the SME sector across across the country for both domestic and export business.”

Deputy Minister de Silva stressed that the decision on NPP had been apolitical and was meant to spur growth.

Dr. Coomaraswamy succeeded Singaporean Arjuna Mahendran in June 2016 in the wake of treasury bond scams involving the Perpetual Treasuries Limited (PTL) in Feb. 2015 and March 2016.

Alleging that CBSL had been deliberately deprived of an opportunity to attend CCEM meeting on Jan. 10, 2018 at which the decision was taken, Dr. Coomaraswamy has pointed out that Sri Lanka could comfortably manage retail payment and settlement system as well as large value payment and settlement system with existing arrangements. The economist primarily opposed the project on the basis Sri Lanka with 21 mn population could manage on its own like the National Payments Corporation of India (NCCI), which catered to a staggering 1.324 bn people.

Dr. Coomaraswamy has also brought the move to the notice of President Maithripala Sirisena through Secretary to the Cabinet of Ministers, in addition to the Secretary, Ministry of National Policies and Economic Affairs, Secretary, Ministry of Telecommunications and Digital Infrastructure and the Director General, department of Project Management and Monitoring.

The CBSL comes under the purview of the Ministry of National Policies and Economic Affairs.