Powerful businessman and minister Malik Samarawickreme is putting up a stiff fight to secure a service extension for Central Bank Governor - Arjuna Mahendra, internal government reports say.

Mahendra’s tenure ends this month and according to finance legislation, only President Maithripala Sirisena is vested with powers to extend his tenure.

According to a prominent minister, Minister Malik has initiated a plan to retain Mahindran. He had met with former President Chandrika Bandaranaike Kumaratuna to justify retaining Mahendran and had also attempted to influence President Maithripala Sirisena on this regard.

Until COPE report unveiled
However, speaking before the Monetary Board yesterday (24), Mahendran said he has decided not to seek an extension of his term in office until the COPE report on the controversial Bond Issue is unveiled.

It is said that he had stated thus on the advice of Minister Malik, who had assured the former that certain COPE members are close to him regardless of their political party.

COPE, unbiased
However, speaking in Parliament yesterday COPE Chairman - Sunil Handunnetti said that the committee would remain politically unbiased at all times.

Noting that the COPE was conducting a proper probe over the Bond Issue, Handunnetti urged not to belittle or insult this process.

Shouldn’t 'import'
Meanwhile, UPFA General Secretary Mahinda Amaraweera says that there is no need to ‘import’ candidates for the post of CBSL governor and that there are many suitable individuals in the country.

The Government today backed the decision it took to support the campaign to keep Britain in the European Union (EU).

Senior State Counsel Dilan Ratnayake today told court that the CCTV footage relating to the inquiry over the murder of Ruggerite Wasim Thajudeen, has been sent to the British Columbia Laboratory- Canada for expert examination and the progress of the examination would be received by the CID by the first week of August.

Sri Lankan shares fell for a fifth straight session to a more than two-month closing low on Friday as investors turned cautious ahead of a rate announcement by the central bank and as Britons voted to leave the European Union.