Dissolving director boards – Only subject minister can do so: Kiriella

In the wake of President Maithripala Sirisena dissolving the director boards of the two State banks, Public Enterprise Development Minister Lakshman Kiriella said it was the subject minister who had the authority to do so.

He told those gathered at the launching of the load scheme, ‘Lak Diriya’ in Kandy that he had read media reports about the director boards of People’s Bank and the Bank of Ceylon being dissolved.

“It is only the subject minister who had the authority to do so. However, the President has written to me as the subject minister requesting me to dissolve the director boards using the powers vested in me. I asked the President to submit a list of names to be included in the boards. News stories of director boards being dissolved can sully the international reputation of the banks and will have a major impact on the economy. Such news items are treacherous,” the minister said.

He said the 2019 Budget would provide the people a host of relief measures.

(Source: Daily Mirror – By Kelum Bandara)