"In my own area, the few large private banks were brought under governance rules," Wijetilleke said.
"But some of the big banks which are enjoying more than 60 percent of the market are not under governance rules. Why is that?" he questioned.
"If there were independent directors in institutions like the CEB [state power utility], CPC [a state petroleum retailer], People's Bank and Bank of Ceylon would they have been a burden on all of us?"
Moral Hazard
Energy utilities have been forced to suffer massive losses for political popularity for years, and in the process contributed to exchange rate depreciation and macro-economic imbalances.
The Ceylon Electricity Board suffers chronic losses with sections of the political