More than 72 hours and still missing

Two important events took centre-stage this week, one being that of the warrants issued by Colombo Fort Magistrate Ranga Dissanayake for the arrest of former finance minister Ravi Karunanayake and nine others -- Central Bank’s former governor Arjuna Mahendran, Perpetual Treasures Ltd (PTL) owner Arjun Aloysius, its chief executive officer Kasun Palisena, chairman Geoffrey Aloysius and directors Chithra Ranjan Hulugalle, Muththurajah Surendran and Ajahn Gardiye Punchihewa, Central Bank Public Debt Department (PDD) officer Sangarapillai Pathumanathan and Employees Provident Fund (EPF) officer Indika Saman Kumara – in connection with the Central Bank bond scam. One of the ten wanted suspects, Muthurajah Surendran was arrested by the CID on Saturday, produced in Court and remanded till March 18. But though several CID detectives had fanned out in a search operation to arrest the remaining nine, none of them were at their known addresses.   

In this high profile case, for the first time ever in Sri Lanka, a former finance minister is among those to be arrested. The ten suspects have been charged with criminal misappropriation, profiting from insider information and market manipulation in connection with two bond auctions on March 27 and 31, 2016 having a total face value of Rs.36.98 billion.   

Court was also told that former finance minister Karunanayake had allegedly influenced the three leading State banks — the Bank of Ceylon, the People’s Bank, and the National Savings Bank — to refrain from being primary purchasers of Central Bank bonds while he is also alleged to have obtained a luxury apartment from profits received from creating an artificial market, making it possible for the first suspect PTL to profit from bond purchases.   

In the course of the hearing, the Magistrate said it was apparent from the evidence submitted in Court that the suspects had acted in a manner that would generate profits for PTL.   
The other main news item is that of the United National Party (UNP) no longer destined to remain united when the two factions, one led by party leader Ranil Wickremesinghe and the other led by deputy leader Sajith Premadasa parted ways after days, weeks and months of discussions and more discussions producing nothing but plenty of wind leaving its supporters disappointed, dejected and disconsolate at the outcome.   

The UNP, which was formed by amalgamating three right-leaning pro-dominion parties from the majority Sinhalese community and minority Tamil and Muslim communities was founded on September 6, 1946 by Don Stephen Senanayake -- a much loved personality, who left his footprints on Sri Lanka’s political landscape -- is one of the oldest political parties in this Island Nation.   

The crisis in the UNP resulted in the formation of the Samagi Jana Balavegaya (SJB) led by former duputy leader Sajith Premadasa -- the son of former Sri Lankan president and UNP leader Ranasinghe Premadasa -- in response to the millions of UNP supporters calling for a change in the leadership, which was never going to be because of the intransigence of its leader Ranil Wickremesinghe who failed to realise that nothing is forever least of all the party leadership.   

Unfortunately, Mr. Wickremesinghe let slip  the best chance of introducing reforms to the party as he promised to do on several occasions especially, in the aftermath of the October 26 conspiracy when he and his government were unceremoniously sacked by the then president Maithripala Sirisena.The conspiracy back-fired on Mr. Sirisena with Mr. Wickremesinghe riding high on a ground swell of public support with people from all walks of life standing up fearlessly for democracy and democratic values. He repeatedly assured them that the Grand Old Party would be reformed by appointing educated youngsters to high posts in the party. But lo and behold, though the crisis ended none of the promised reforms were forthcoming with the party stuck in the doldrums and defeat staring in its face.   

Meanwhile, the Samagi Jana Balawegaya (SJB) was launched on March 2, 2020 at a ceremony held at the Nelum Pokuna Theatre in the presence of a large number of UNP MPs, members of local councils and leaders of the constituent parties, despite various obstacles being strewn on its path. Its election office and headquarters was opened on Monday at No:815 E.W. Perera Mawatha, Ethul Kotte attended by a large and enthusiastic gathering of supporters.   

Be that as it may, let us as voters be alert and cautious when it comes to marking our valuable votes on April 25 by electing as our representatives educated, conscientious and punctilious men and women who will dedicate and commit themselves to serve the people and not themselves.