President gazettes Central Bank & SEC under Finance Minister

Mar 28, 2018 (LBO) – President Maithripala Sirisena has gazetted Central Bank and SEC under Finance Minister, few days ahead of the no-confidence motion against Prime Minister Ranil Wickremesinghe. Accordingly, Monetary Law Act and Securities and Exchange Commission Act has been classified as additional laws to be implemented by the Finance Minister. Central Bank and Securities and Exchange Commission of Sri Lanka was under Prime Minister Ranil Wickremesinghe's National Policies & Economic Affairs Ministry. According to the gazette notification, formulation of monetary policies and macro-economic management in coordination with the Central Bank is classified under duties and functions of the Finance Minister. Apart from that, the Finance Minister has now been entrusted with the monitoring of  revenue collection and expenditure. Recent changes to the ministerial positions are also included in the extraordinary gazette notification issued today.