Auditor General H.M.Gamini Wijesinghe answered in the affirmative when President’s Counsel Nihal Fernando asked whether a primary dealer could be held responsible for a questioned decision making process that took place at the Central Bank.
Fernando PC questioned following a statement made by AG Wijesinghe regarding the basis on which he prepared the special audit report on the auction that took place on February 27,2015.
AG Wijesinghe said his special audit scrutinised if a loss has been incurred by the change to the auction method from the direct placement method and if the Central Bank has or has not raised debts for the least cost to the government.
Fernando PC asked AG Wijesena whether he thinks that a primary dealer is responsible for the outcome of this decision making to opt for direct placement instead of auction method, to which the latter answered as no. AG Wijesinghe said the special audit report was prepared considering the Central Bank’s interest.