The Presidential Commission of Inquiry investigating into the issuance of Treasury bonds requested the President to extend their term period as the commission yesterday (17) completed recording evidence which commenced on January 27,2017.

The request has been made as to continue the proceeding of the Commission, Secretary of the Commission, Sumathipala Udugamasuriya said.

Justice Chithrasiri said hearings continued for 120 days with 63 witnesses giving evidence before the Commission.

President Maithripala Sirisena appointed the Presidential Commission of Inquiry to investigate and report on the Central Bank bond issue on January 27,2017.

The Commission was headed by Supreme Court Judge, Justice K.T. Chithrasiri and comprised of two other members, namely,Supreme Court Judge P.S. Jayawardena and Rtd. Deputy Auditor General K. Velupillai.
 
The President had on January 22 announced that he would appoint a Special Presidential Commission of Inquiry to investigate the Central Bank bond issue and recommend actions.

The parliamentary debate on the report of the Committee On Public Enterprises (COPE) regarding the controversial bond issue, commenced on January 25 while it was forwarded the Attorney General the same day.
 
The special COPE report was presented to the Parliament by the Chairman of the Committee On Public Enterprises MP Sunil Handunnetti on October 28, 2016. 

The 55-page COPE report recommends that former Governor of the Central Bank Arjuna Mahendran should be held directly responsible over the bond transaction and that legal action should be taken against him and responsible individuals.  

The report also observed financial irregularities in the Central Bank bond issue and recommended to recover the losses incurred from those involved.