Courtesy The Daily Mirror

In an Extraordinary Gazette issued today, President Maithripala Sirisena moved two key institutions; the Central Bank and the Securities and Exchange Commission (SEC); which were under the National Policies and Economic Affairs Ministry headed by the Prime Minister, back to the Finance Ministry.

The Gazette Notice, which bears No: 2064/26 said the two institutions would be immediately placed under the Minister of Finance and Mass Media.

“Formulation of monetary policies and macroeconomic management in coordination with the Central Bank of Sri Lanka and monitoring revenue collection and expenditure would be carried out by the Finance Ministry,” the notice said.

Meanwhile, a number of items including the Monetary Law Act, Public Utilities Commission, Exchange Control Act, Securities and Exchange Commission, National Youth Council, Youth Corps Act, Children and Young Persons Ordinance and the National Insurance Trust Fund Act had been omitted from the Prime Minister’s Ministry.

The Monetary Law Act and the Securities and Exchange Commission had been placed under the Finance Ministry.