At present, the BOI is headed by lawyer Upul Jayasuriya.

Jayasuriya, as the then Bar Association president, played a key role in the toppling of the Rajapkas regime and the formation of the present government.

However, he has so far been unable to attract any substantial investments to the country, and the BOI under him has been accused of delaying the handover of land to foreign investors.

In view of these issues, the PM has decided to appoint Mahendran to replace Jayasuriya, who will be posted to another position, the sources added.